If you died tomorrow, what would happen to your empire?

ROTFLMAO!!!

No way... The Lagavulin, the Cookies, and the Empire are all going into the coffin with me!!!
(And I plan to be buried at sea, in the Ferrari)

If the kids want an empire, they can go build their own!

This is a subject I deal with every day. I have an Estate Planning company based in the UK and we draft Wills and Trusts for business people all the time.
Most people who build up a business want to leave a legacy to their family and want to protect all their hard work.
Internet Marketing should be run as a "Business" and I believe that most people doing IM dont do this properly.

The simplest way to protect everything is to set up a lifetime trust and write a will leaving your business assets to the trust. In the UK certain assets qualify for Business property relief so fall outside of the estate for Inheritance tax purposes as long as you have owned them for more than two years.

Alongside the trust you can write a letter of wishes that directs what you want the trustees to do with the business assets. This can be re written at anytime in your life.

I would recommend that you document all the details about your sites, password and payment accounts etc and store it somewhere safe where your family can find it. Then appoint someone you trust such as your accountant as one of your trustees to manage the trust fund. Appoint other family members as trustees.

To bring the Trust to life all you need to do is pin a £10 note to it, sign it and have a minutes of a meeting drawn up with you as the settlor and your trustees and sign and date this at the same time.

If you have sites or products that make money online just because you die these sites or products will still carry on making money so you should really sort out where this money is going to go and who is going to benefit from it.

If any one in the UK wants free advice on all this just PM me and I will get in touch and talk you through everything.

Cheers
Mark

Me too, but in my case it'll be a canoe.

Ron

Same here, all will go with me in my grave.

Makes me think btw, as there are many people who lose their empire there must also be a lot of domains that won't get re-registered that are up for grabs. Whole empires of money making sites must go down every day. Now how do we find them

Impossible! You can;t do that absolutely. I believe it. based on the fact.

I use a program called 'The Brain'

Its rather like a database for your mind, I also sync it online to 'TheWebBrain' .

It syncs my wesites,membersites and just about anything else I use online and offline.
You can also list all of your future ideas, it's input is limited only by your imagintion.

It also allows you to find what you listed in 'Your Brain' by a simple keyword search, so you never lose anything.

Well you have another chance in Decmeber 2012, We are all gunna die.... I already have the popcorn ready and the "2012 is the end" T-shirts ready.

Cant wait..... *gulp* :rolleyes:

I like this solution the best.

This is another important consideration.


With all these topics in the thread, it definitely seems like someone needs to build the biz to handle this!