Do your next-of-kin know your portfolio details?

[Lucky Luke]

I'm just picking up on the death of Matt (devolution) and that some of his domains have dropped.

My family haven't the foggiest about my domain portfolio and how to protect it if I should step under a bus or whatever. I'll put that straight this weekend.

 

[Americar]

I'm just picking up on the death of Matt (devolution) and that some of his domains have dropped.

My family haven't the foggiest about my domain portfolio and how to protect it if I should step under a bus or whatever. I'll put that straight this weekend.

Thats the case with many/most domainers .. most family members have no interest and are not capable of carrying on when we pass on unless of course you had something of extrordinary value then they might take some notice if told about it, if not the name drops and recycles within the domain community as is the case with most of the higher profile more valuable names that drop .. thats probably the way it should be ..

 

[Lucky Luke]

Thats the case with many/most domainers .. most family members have no interest and are not capable of carrying on when we pass on unless of course you had something of extrordinary value then they might take some notice if told about it, if not the name drops and recycles within the domain community as is the case with most of the higher profile more valuable names that drop .. thats probably the way it should be ..

Hi Americar,

That's an interesting point of view.

Cheers, Luke

 

[Edwin]

That's also why, if you're sitting on a really strong portfolio, it's probably worth taking a bit of money out of domains and diversifying into something the people you care about can easily understand (like stocks and shares, cash in the bank, property etc.)

It's all very well sitting on domains worth millions - but even if they really are worth that much, if you're the only person who knows how to unlock their value and you go under a bus tomorrow, there's in practical terms nothing left for those you leave behind. In less than 2 years, all those domains will drop - much less, unless you always make it a practice to stay way ahead with renewals.

One random example: if you've got a large, strong domain portfolio and a big mortgage then why not "make do" with a slightly smaller domain portfolio and no mortgage?

 

[HariSeldon]

My family haven't the foggiest about my domain portfolio and how to protect it if I should step under a bus or whatever. I'll put that straight this weekend.

Good point, now added to my ToDo list for this weekend, thanks.

One random example: if you've got a large, strong domain portfolio and a big mortgage then why not "make do" with a slightly smaller domain portfolio and no mortgage?

Very sensible advice; with many domainers quite happy to sit on premium domains for years to get their ideal price, it can be quite shocking to realise how much interest you'll pay on a large mortgage over the same period.

 

[HariSeldon]

thats probably the way it should be ..

I don't agree with that at all.

If someone has worked hard to build up a domain portfolio then their family and loved ones should benefit from their hard work the same as if it was any other business.

 

[Lucky Luke]

Hi Hari,

I'm with you on this one.

In the event of my untimely demise, I am entirely certain that I would want my wife & daughters to benefit from the sale of my domains rather than the dropcatchers, nice as they are

Edwin's point is well made and I will consider offloading some domains that I know are valuable but have done nothing with. The question is about an end user sale (where I'd get better value) or selling to the resellers.

What I would like is for 123-reg to have auto-renew on direct debit rather than credit card - then I could auto renew out of our joint account without worrying about credit card details expirying.

cheers, Luke

 

[Americar]

I don't agree with that at all.

If someone has worked hard to build up a domain portfolio then their family and loved ones should benefit from their hard work the same as if it was any other business.

**I don't agree with that at all.**

**I'm with you on this one.

In the event of my untimely demise, I am entirely certain that I would want my wife & daughters to benefit from the sale of my domains rather than the dropcatchers, nice as they are

Edwin's point is well made and I will consider offloading some domains that I know are valuable but have done nothing with. The question is about an end user sale (where I'd get better value) or selling to the resellers.

What I would like is for 123-reg to have auto-renew on direct debit rather than credit card - then I could auto renew out of our joint account without worrying about credit card details expirying. **


Well thats the way it is, that is what the drops are all about, it's not about dropped names that are worthless, those names drop every day.

If there was no drop system the registrars would keep all of the names that had any value and or traffic .. if you dont have a legal system in place to take care of your name business then your names will drop ... as for having auto renew on a debit or credit card after you have gone that card is null & void the minute that the person has passed on ... legal nightmare perhaps ..
2 years is the maximum that anyone can reg a .co.uk name, 10 years for .com ...

The drop system recycles domain names, they dont disappear into cyber space never to be seen again, the drops keep people in the industry gainfully employed, so it all serves a purpose in the end ...

So if you have valuable domain names take measures to protect those names and make sure that whoever does is capable of capitalising on them , it wont do much good if they are mentioned in a will as probate can take a very long time, plus some lawyer or the probate courts wont have a clue what to do with the names, they could turn out to be more of a liability than an asset to a grieving family ...

.

 

[Lucky Luke]

Hi Americar,

I guess your pitch is that if you or your family don't have a failsafe way of renewing, then the names get recycled.

It reminds me a bit of adversary possession of land (before the law was recently changed). So that land does get used, if someone has used a piece of land for more than 12 years without being challenged by anyone else then they can claim it as theirs. The legal object of this was to keep land in use.

Your views are not dissimilar and have a legal parallel.

(The law did change for adversary possession, but I can't recall in what way at this time of night.)

Cheers, luke

 

[stormin]

For The Family After

Hi All..

If one of you guys fell below that bus, did you ever think of how your family would get info on your domains that you own, never mind how to sell them on, I think some of us need to sit down and write a few words on paper with some sort of instructions or at less keep a up to date list of domains and values££

 

[Americar]

Hi All..

If one of you guys fell below that bus, did you ever think of how your family would get info on your domains that you own, never mind how to sell them on, I think some of us need to sit down and write a few words on paper with some sort of instructions or at less keep a up to date list of domains and values££

What are ya gonna do .. get a portfolio appraised at unrealistic end-user value and let your family believe that they can take that to the bank ...

Doesn't work .. it just leaves the family with your liabilities, hopes and dreams and disappointment in the end ..

Only if you have truely premium names that can be cashed out should anybody involve family members in something that they have no interest in or understanding of .. they have enough to worry about with a loved one passing ...

 

[newguy]

Not at this time, but rceent events have certainly given me pause for thought. if I was unlucky enough to pop my clogs, I'm all but certain that the domains I own would just drop, and that no family and friends would ever be the wiser. I think I'll write out a list steps to be taken should something happen to me.

Taking Americar's comments into account I would perhaps list sensible prices that they should sell at, rather than let my family imagine that they are sitting on a goldmine. Either that or perhpaps even suggest that they are all placed on domainlore with a link being placed here to alert people t what has occured, and that the domains are going to be auctined off. Prices would likely not be as high as waiting it out, but it would at least ensure that the process was simple for them.

 

[pugyrob]

A will and also a trusted couple of contacts they could go to to help realise a decent value on the domains. My wife knows two people she should go to if the worst happens (on this forum) who can be trusted to do the right thing.

Scares the hell out of me that she would have to deal with the names/sites/JV's on her own as i barely manage it!!