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May 18th, 2009, 09:48 AM #1What happens to your accounts if you die....
This service sounds like it is in its infancy, and that security and such may still need to be addressed more, but certainly food for thought.
May 18th, 2009, 10:29 AM #2
- Join Date
- May 14th, 2009
Definitely should be considered.
At the very least, keep an excel schedule with all the relevant info. Password protect it and write the password/file location on a piece of paper and keep it with your will.
If you want different things to go to different people, set up different files and use different passwords (one file per person). Write down the passwords/file locations/who gets what info and give it to your attorney. Write a note and keep it with your will that there is info with (name attorney).
May 18th, 2009, 12:58 PM #3
- Join Date
- January 18th, 2005
While I don't think that an online service is needed for this, planning for the future is important. (I used to be an estate-planning attorney, but this is NOT legal advice, just some practical considerations.)
Everybody worries about death but for most folks under 65, the real worry should be disability, which is much more common (and likely much more expensive). Depending on the nature of a disability, you might still be able to communicate instructions (indeed, some "disabilities" might have only a minor impact on your online work), but if not (think of traumatic head injury or coma), someone needs to be able to access your accounts.
The first step, for your online "assets" and accounts, is to make sure that your loved ones have access to your account and password list (in theory, they can reset passwords for most accounts, except that they need password access to your primary email account in order to read the password-reset emails).
Another important issue is "funding" for your online flow of activities: at death, your credit-card accounts may be closed, which might impact one or five or 30 different accounts with ISPs, domain registrars, etc. Even if the accounts aren't closed, they may quickly hit your account limits, if payment arrangements aren't made. Likewise, if your bank account is closed, all those auto-deposits will fail.
It would also be wise to make sure that your spouse or heirs understand the nature of your online business activities, especially the "fluidity" and constant change. This is crucial for anyone spending money on PPC search -- we all know that a PPC search account left running on "auto-pilot" is extremely likely to swing from profit to loss in a very short time. Make sure your heirs can turn off the spigot -- and don't rely on just disabling the credit card! But even ignoring PPC costs, your heirs should understand that there is a constant "churn" in your business (as merchants close their affiliate programs or disable tracking), and thus leaving your web sites running on "auto-pilot" will almost certainly not work for very long.
Of course, it's interesting to note that in many cases, your "online life" may continue for many months after you die (or become incapacitated), especially if you've set up auto-deposit and auto-payment arrangements. Long after you're gone, your auto-deposits might continue to flow into your checking account, which your credit card companies would access via auto-payment, while your hosting and other accounts continue to automatically charge fees to your credit card.
By CelticOneDesign in forum WhenUReplies: 16Last Post: October 6th, 2002, 07:14 PM