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selena

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#1

So what if you die?

01-02-2006, 01:53 PM

With the new year, and all that, I'm trying to figure out the best way to make provisions for my business stuff in the event of my death.

My 18 year old knows what I do, so that helps.

I know I should have a hard copy of all my passwords and such.

What are some other things a person should have in a tidy informational package?

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#2

01-02-2006, 01:54 PM

if I die, my sites die... except for one.

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RedShoe

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#3

01-02-2006, 01:55 PM

How about a living trust? Do you have a corp setup yet? life insurance? I doubt a single list of passwords will help.

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#4

01-02-2006, 01:57 PM

Don't forget a living will and health care power of attorney so you can DIE if you're a vegetable.

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#5

01-02-2006, 01:59 PM

I actually have a notebook with my business plans for the next 6 years and i'm always adding to it. i also have trained my wife how to do most of the stuff needed to keep things up and running. I have a seperate notebook with all my passwords and financial info. So things should go on for a long time after i'm gone.

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#6

01-02-2006, 02:07 PM

Originally posted by xclusive

I actually have a notebook with my business plans for the next 6 years and i'm always adding to it. i also have trained my wife how to do most of the stuff needed to keep things up and running. I have a seperate notebook with all my passwords and financial info. So things should go on for a long time after i'm gone.

What if you die in a house fire?

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#7

01-02-2006, 02:13 PM

Originally posted by RedShoe

What if you die in a house fire?

stop watching those movies
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#8

01-02-2006, 02:17 PM

Originally posted by ffmihai

stop watching those movies

What movies? I'm just commenting that he keeps it all written in a notebook, well... what if his notebooks burn up and he dies in a fire? Is there a movie based on that?

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#9

01-02-2006, 03:00 PM

Originally posted by NichePay - StuartD

if I die, my sites die... except for one.

What about residual income?

You have any rebilling accounts out there?

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#10

01-02-2006, 03:02 PM

register domains for 10 years
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selena

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#11

01-02-2006, 03:02 PM

Originally posted by RedShoe

How about a living trust? Do you have a corp setup yet? life insurance? I doubt a single list of passwords will help.

You are right, there are things much more important than passwords, and some of them I indeed need to set up. A corp comes this year, after I can figure out if that or an LLC is best.

That aside, the passes can be important in terms of allowing him to see where funds should still be coming from. ie, knowing what CCBill is, and how to log into it. Knowing how to get into my stats program as well, to give him other sponsor names.

Not to mention he needs the phone number of either JaYMan or 3xlinks.

For someone as old as I am, I'm just starting to grow up and take care of some of this stuff.

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#12

01-02-2006, 03:05 PM

My wife is 50% of the business, so she knows my passwords, and how to run things. I have a life insurance policy, and she will take the cash. I am working on getting a second one, that way she gets paid more.

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selena

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#13

01-02-2006, 03:05 PM

Originally posted by RedShoe

What if you die in a house fire?

Safety deposit box would take care of that.

I'm renting one next trip to the bank.

The pain in the ass thing about that would be updating the shit you have in the deposit box.

I'm thinking of buying an external hard drive this month, and using it for a backup. I want to store it out of the house, so I can have a better chance of disaster recovery should the house burn.

But that means I have to go to the bank, bring it home, backup, and take it back to the bank.

Doesn't sound like much, unless you are like me, and studiously avoid trips into the 3D world. ;)

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selena

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#14

01-02-2006, 03:06 PM

Originally posted by Love Sex

register domains for 10 years

That is another thing, thank you!

A list of domains, and where they are registered, and for how long.

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#15

01-02-2006, 03:10 PM

The reality of life: We are all gonna die. But what matters most is how well we live.

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#16

01-02-2006, 03:12 PM

I did not read the whole post, in a rush. The best thing you can do if you care about the 18 year olds future or the future of other loved ones that know you have this business is to train them. If I left you instructions on something that you had no idea how to deal with such as how to run my automotive performance company do you think you can step in tomorrow and run it as well as I am now? Probably not. You would have to trust the people i have in place that work for and with me, and they have every chance to take advantage of you if you do not know the ins and outs enough to know what is bullshit and what is not.

Train a protege and get something legal made where if others in your organization screw over the benifactors of your estate they are in legal trouble and hope that that keeps them honest.

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#17

01-02-2006, 03:16 PM

If I die, my sites die!

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#18

01-02-2006, 03:16 PM

Originally posted by pornguy

My wife is 50% of the business, so she knows my passwords, and how to run things. I have a life insurance policy, and she will take the cash. I am working on getting a second one, that way she gets paid more.

If your wife is asian like mine is, (or any other non-caucasian) then you'd be better off giving her 51%. We set up our LLC with my wife as 51% owner. She's a woman and a minority. It's great for getting money from banks and I think we get a tax break as well (but I'll have to double check with my CPA)

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#19

01-02-2006, 03:20 PM

Originally posted by selena

Safety deposit box would take care of that.

I'm renting one next trip to the bank.

The pain in the ass thing about that would be updating the shit you have in the deposit box.

I'm thinking of buying an external hard drive this month, and using it for a backup. I want to store it out of the house, so I can have a better chance of disaster recovery should the house burn.

But that means I have to go to the bank, bring it home, backup, and take it back to the bank.

Doesn't sound like much, unless you are like me, and studiously avoid trips into the 3D world. ;)

The alternative to this is to get that remote desktop software then set up an external HD on a family members computer or some other computer you have off site. So like if you have an office somewhere link it to your home PC or if you have a relative you can trust not to fuck with it or whatever. then using remote software you can login and back it up off site.

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#20

01-02-2006, 03:23 PM

It all goes with me for the most part.

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#21

01-02-2006, 03:43 PM

If I die.. my hubby will be rich and no need for him to run any sites..give my shit away and burn me on a platform on top a mt. somewhere.
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#22

01-02-2006, 04:13 PM

Originally posted by selena

What about residual income?

You have any rebilling accounts out there?

nope... I wouldn't make a penny after I die.

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selena

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#23

01-03-2006, 04:55 AM

Originally posted by RedShoe

The alternative to this is to get that remote desktop software then set up an external HD on a family members computer or some other computer you have off site. So like if you have an office somewhere link it to your home PC or if you have a relative you can trust not to fuck with it or whatever. then using remote software you can login and back it up off site.

That's a nice suggestion. I will give it some thought. Thanks!

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