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The Inescapable Dilemma...

by Allan Rich
3 replies
After years of building your online empire and developing a thriving online business, you finally get to sit back and enjoy life

My question is something that I've yet to figure out and really haven't seen talked about.

I'm still fairly young but 30 is creeping around the corner. I always try to stay on my toes when it comes to preparing for the future... life insurance, investments etc.

...But, What happens to all my hard work and my online business when that time comes; You know... when the Big man comes knocking at your door?

If your like me, your the go-to guy when it comes to computers etc. No one in my family knows a thing about online business/internet. So how does someone prepare for the inevitable?

Do your let your websites/online business die off? How do you switch ownership/payment information to a family member when your not alive. Or how could a family member sell your online assets when they don't even know the value of your online properties, where to sell and the process itself?

Anyone have any input? B/c I'm scratching my head
#dilemma #inescapable
  • Profile picture of the author webapex
    That is an all too common state of affairs, a less severe case being disabled with some medical setback can have a similar outcome.

    At least have your passwords and the names of some site brokers written down somewhere so relatives have some chance of making something of your assets.
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    “An expert is a person who has made all the mistakes that can be made in a very narrow field” Niels Bohr

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  • Profile picture of the author Mike Hill
    It's called a Will... Go see a lawyer and get one put together. I drafted a contingency plan for my business and included that as part of the will. In fact I just saw my lawyer the other day and got my will completed. It took about 1 week and 2 appointments that were both about 2 hours.

    Then I put my will in my safety deposit box at the bank and let my family know were it is so when I die they will know were to go to get my will.
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  • Profile picture of the author auradev
    I've made a camtasia screen recording with me talking about how to run stuff so that I could give it to someone. A lot of my income is recurring so it would pay out for a couple years or more.
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