discuss Inheritance in domain name?

[abstractdomainer]

Suppose I own a domain name, which may be really valuable.
However, if something happens to me, is it possible for my kids to inherit the domain name?

I mean, what if they don't know that I own such a valuable name, since they do not know the domain name industry as a whole.

Who takes care of the domain name, after me? If they do not know, they can't renew and a decent property may expire. I have read stories of certain good domainers, helping the family of deceased, get the domain name transferred. But these were exceptional cases.

How does this whole thing work in general?
Has anyone been able to solve this yet?

 

[blockhead]

I'm no lawyer or estate planner, but I would say:

Put it in your will (along with the relevant details for accessing it).

& keep it renewed for many years (should be standard for any truly valuable domains).

You could also write up a document explaining what to do with the domain, why it's valuable, how much it's worth, how and where to sell it, etc.

 

[ixex]

Appoint someone to transfer (posthumous) the domains into your pre-prepared kids' domain accounts.

 

[abstractdomainer]

I'm no lawyer or estate planner, but I would say:

Put it in your will (along with the relevant details for accessing it).

& keep it renewed for many years (should be standard for any truly valuable domains).

You could also write up a document explaining what to do with the domain, why it's valuable, how much it's worth, how and where to sell it, etc.

Do we have stories around this where someone lost their domains?

Any other way? More inputs on this?

 

[noneisnone]

interesting subject never thought about it thanks for bringing it up

 

[werejack]

I read a similar thread and it was mentioned that epik have a service where a client can request for their domain portfolio to be handled by epik in line with their wishes in case they are incapacitated or pass on. I am not sure if others in the domain industry offer such a service or not.
Also as mentioned in an earlier response, it is advisable to leave instructions for administrator or next of kin passwords and how to access your domains.

 

[lock]

I have domainestatebroker and inhered dot com

 

[bmugford]

Even if someone inherits your domains, they will likely have no clue what to do with them. They are just an expense unless they have any idea how to monetize them.

I think it is a good idea to explain to a family member or a friend a little about your business model and how things works. It would make it a lot easier if something happened.

Brad

 

[bmugford]

Do we have stories around this where someone lost their domains?

Sadly, it happens daily. Many valuable (and more not so valuable) domains are lost this way.

Brad

 

[abstractdomainer]

I read a similar thread and it was mentioned that epik have a service where a client can request for their domain portfolio to be handled by epik in line with their wishes in case they are incapacitated or pass on. I am not sure if others in the domain industry offer such a service or not.
Also as mentioned in an earlier response, it is advisable to leave instructions for administrator or next of kin passwords and how to access your domains.

That's great! If Epik has this, they have thought everything end-to-end!

Even if someone inherits your domains, they will likely have no clue what to do with them. They are just an expense unless they have any idea how to monetize them.

I think it is a good idea to explain to a family member or a friend a little about your business model and how things works. It would make it a lot easier if something happened.

Brad

I wish they understood my business :D

 

[seank]

how does epik know that the client has deceased ? and to whom to pass the details?
I heard about putting in will with account details suggested by someone in the past, but they will also need access to your email account supposedly. GoDaddy have a delegate option.

 

[xbank]

Do we have stories around this where someone lost their domains?

Any other way? More inputs on this?

People died and lost names .. when you are dead these things don't matter .. the Kids make their own destiny and the internet evolves .. as everything does!!

 

[abstractdomainer]

People died and lost names .. when you are dead these things don't matter .. the Kids make their own destiny and the internet evolves .. as everything does!!

Right, I agree! But it is better that they own the $100,000 in domain names you might own, than not owning that.

 

[xbank]

Sure,

Right, I agree! But it is better that they own the $100,000 in domain names you might own, than not owning that.

Sure, I think some sort of blockchain technology in domaining will do that thing.

 

[xbank]

Because the blockchain cannot be modified and it will keep the track of the real owner (if you doing the hand reg) and also if you did not sell the name and keep it your end.

 

[Mytz.com]

That's a good question

 

[werejack]

GoDaddy have a delegate option

That is a useful feature indeed.