DAN.com

What will happen to our Domains when we die?

Labeled as discuss in General Domain Discussion, started by Fortnite, Dec 8, 2019

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  1. Fortnite

    Fortnite Patience is the key to success and big money

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    As we all know death is inevitable, most of us dont like talking about it..But let's get back down to earth, face reality and have a thought about what will happen to our Precious Domains when one day we pass away?

    Imagine if we have a portfolio of Millions of USD at stake? Have you ever thought about it?

    Imagine all the amounts we spent on Domains going to expire and someone can easily "Backorder/Dropcatch/Snap etc...

    Do we mention it in our will, for someone to inherit it?
    Will it just expire when the deadline comes?

    What are your thoughts about it and what steps would you take?🤔
     
    Last edited: Dec 8, 2019
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  2. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP

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    There are some folks providing domain estate planning service as part of planned management agreements. Here is an overview of ours:

    https://www.epik.com/manage/

    For folks going in for major surgery or who have reason to believe that their mental faculties might be in some rapid decline, it might be a good option to plan ahead.

    Alternatively, you can keep a Power of Attorney letter on file with some trusted party who will present this in the event of your incapacitation. We don't prefer that because it means validating the letter.

    See related ICYMI:

    https://www.namepros.com/threads/so...t-do-domain-names-have-to-do-with-it.1161411/

    And I agree with you here:

    upload_2019-12-8_11-16-41.png
     
  3. johnn

    johnn WeSellName.com VIP ★★★★★★★★★★

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    When will you stop SPAMING by promoting your business in every single thread?
     
  4. Fortnite

    Fortnite Patience is the key to success and big money

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    Thanks Rob for the input, I will have a look at the given sources..
    I think its important that we should understand this and know what to do before an emergency arises. That would help protect our assets and who knows, our future generations might benefit from it.
     
  5. NameDeck

    NameDeck NotElected.com VIP

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    I disagree with you on this one. Although he's linking to his own company I didn't know they offer this service and it's something worth looking into, perfectly in line with OPs thread.

    For some it might just be the perfect solution. I hold some names as an asset that are meant to be passed on to my kid when she turns 18. I covered it myself but at first glance the service offered is interesting.
     
  6. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP

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    The feature is actually a hidden feature. We only talk about it upon request. It is a sort of "Domain Consiglieri" service.

    As for the comment from @johnn, this was a dead thread with 6 hours of zero engagement. As you can see, I sort of fixed that problem.
     
  7. xynames

    xynames XYNames.com PRO VIP

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    A whole six hours with no post?
     
  8. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP

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    From what I have observed, if there is no engagement on a thread within a few hours, it is pretty much a dead thread. Until today I did not follow the OP so I am not even sure why his post showed up in my alerts.
     
  9. Cal2

    Cal2 Established Member

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    It's so hidden you didn't mention it when I was messaging you about one's domain names and what to do in the event of death. : )

    Thanks for mentioning it as another option.
     
  10. manpreet

    manpreet Top Contributor VIP ★★★★★★★★★★

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    Thanks for sharing this feature.
     
  11. HotKey

    HotKey Made in Canada VIP

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    I don't know about that Rob, sounds like you've caught the millennial bug or something..:) What's the rush? Some dishes taste better when marinated and cooked for a few hours. I'd rather see some folks sit and stew on their responses rather then serving them out right aways, could save some grief in the long run.

    **
    Personally, as far as preparing for the inevitable, it sucks to think about. But I've got dependents, and they know where to look in terms of accessing my DN accounts. What they will do with, is a different story. I don't think we can expect our loved ones to know how to manage our business, unless they've been trained. The best we can do, is not burden them with liquidating the domains themselves, as there is already enough stress to deal with on bricks and mortar, tangibles. Leave them a trusted contact who knows DNs and do the liquidation on behalf of the family.

    Yes they will just expire, if no one other than yourself has access to the accounts. If mentioned in will, you would also have to provide access details, passwords etc.

    There's been some related discussions on this:

    https://www.namepros.com/threads/wh...to-do-with-your-domains.1124841/#post-7133950
    https://www.namepros.com/threads/do-you-teach-your-kids-to-domain.1152954/#post-7386157
     
  12. JB Lions

    JB Lions Top Contributor VIP ★★★★★★★★★★

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    It was 8 in the morning on a Sunday, plus there are numerous threads on the subject already, even recent ones.
     
  13. NameDeck

    NameDeck NotElected.com VIP

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    Cool. We're blaming millennials again :)

    SAVETHEMILLENIALS.ORG ... Taken.
     
  14. HotKey

    HotKey Made in Canada VIP

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    But HelpUsAll.org is avail..
     
  15. NameDeck

    NameDeck NotElected.com VIP

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    Don't tempt me!
     
  16. Cal2

    Cal2 Established Member

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    Since it's a 'hidden feature', would someone like the executor of an estate have to bring it up with you directly? Or is there Epik staff who can handle it?
     
  17. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP

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    The "Domain Consiglieri" capability is not deliberately hidden. It is just not featured. It needs to be linked back into the top navigation. It is a speciality feature that comes up because someone contacts us about going in for major surgery, or someone notifies us that their domainer spouse passed, and now they have no clue what to do next to maximize value, or they need to liquidate to fund unexpected expense.

    @Ala Dadan
     
  18. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP

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    Fair point though I think the topic needs more discussion. It is actually relevant as I am dealing with multiple cases in December 2019 of portfolios where the domain owner has passed or is incapacitated. The domain owner had no succession plan in place. Yes, Epik has some capability in this area, but the bigger point is that I would venture to say that most domainers are still playing fast and loose with their succession plans, including guys with huge portfolios that I know for sure are in and out of the hospital with this or that.
     
  19. Fortnite

    Fortnite Patience is the key to success and big money

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    Yes Unfortunately, it had some views tho..but apparently nobody wanted to discuss this sensitive topic or just didnt bother responding or didnt have a clue about what I'm talking until @Rob Monster joined in.
     
  20. Fortnite

    Fortnite Patience is the key to success and big money

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    Nice info in those threads..In the case of Petra, he had a trusted friend with whom he could share his personal information. But what if someone is solo in the game and dont have any successors?can he donate his entire portfolio as charity in case of his passing or being incapacitated?
     
  21. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO VIP

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    Sure, just leave instructions with whoever has Power of Attorney. We don't charge a fixed fee for that service. It is just a set of additional instructions that can be formalized via Power of Attorney if the registrant wishes, but otherwise it is just a documentation of the succession plan by the verified account holder.
     
  22. ak1985

    ak1985 Established Member

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    of course the domains would expire. Even if you make a will and give those domains to someone, that person still needs to renew them on time.:)
     
  23. Fortnite

    Fortnite Patience is the key to success and big money

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    Can this be done worldwide?or does the person have to be a resident of a certain country?
     
  24. MapleDots

    MapleDots Top Contributor VIP

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    My 12 year old boy is already domaining and he is itching to take over my portfolio :xf.laugh::xf.laugh:
     
  25. Fortnite

    Fortnite Patience is the key to success and big money

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    I'm sure he will be an awesome Domainer by the time he reaches manhood😊
     

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