Are you prepaired for this?

by Michael Mayo

Posted: 18 years ago 16 replies

INTERNET MARKETING

Hi Warriors,

After the recent passing of my mother, I've been working hard on making
sure that all my ducks are in a row and numbered in case something bad
were to happen to me.

I wanted to be sure my family has a detailed plan to follow that will walk
them through the entire ordeal. Not just a Will but rather a set of
instructions including contact info account numbers and all other
necessary info they may need to take care of my affairs.

I don't want them to have to deal with it for any longer than they have
to so that they can get on with their life's.

Today, I am still dealing with issues from my mothers passing.
Things she never thought to include in her notes.

When I am finished with this project, My family will know exactly
Who,What,When,Where,Why and How to get the Job Done Quickly.

Now for the Question(s):

Are you prepared for the worst case scenario?

Better yet, Do you have your Family a plan if something were to happen
to you?

Could they find all the required info they need to settle all your affairs
including your Online Businesses?

Just something for each of us to think about while we are still able to do
so. This is the one of the things that you could do now to help your
family through the tough times in the future.

Just some Food for thought!

Wishing each of you a long and fruitful life,
Have a Great Day!
Michael

#death #part #questions #till

Jesus Perez 18 years ago

Sorry for the loss, Michael. I've had this in the back of my mind for some time. I definitely need to get something together.
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- Michael Mayo 18 years ago
  
  Thanks for the reply Blue...
  
  I thought by posting this thread it might plant the idea into a few warriors
  minds allowing them to take action now in order to help prevent their
  loved ones from having to go through what I have these past few months.
  
  Have a Great Day/Night!
  Michael
  
  Originally Posted by BlueSquares
  
  Sorry for the loss, Michael. I've had this in the back of my mind for some time. I definitely need to get something together.
  
  Thanks
  
  1 reply
  
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  BTCollins 18 years ago
  
  You know, now that you mention it, I don't have a plan in case of a worst case scenario as you put it.
  
  I need to update things like that.
  
  Thanks for the good advice.
  
  Thanks
  
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Lynn Stivers 18 years ago

I've thought about that a lot and I do need to get the info together so my kids will have the links and log-ins to all of my sites and admin areas - PayPal and Clickbank accounts - bank accounts online - etc. etc.

The off-line stuff won't be too hard for them to deal with but if I was to go right now they wouldn't have a clue about what to do to access anything I do online.

My husband and I used to always talk about how we were going to live forever - and it felt like we could - but then he got cancer and passed on a few years ago. That really drove home for me just how short life really is and you just don't know when your family will have to deal with losing you.

The one thing I do want to make sure I have outlined for them is everything they'll need to know about my stuff online - that would be the hardest for them to figure out on their own.

Lynn
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- MarkR 18 years ago
  
  Michael,
  
  You bring up a point that nobody likes to talk about, but must be dealt with eventually. There also seems to be a few threads with this thought going on right now. It's certainly easier for everyone involved to deal with before it becomes a necessity.
  
  My thoughts are that it would be great if there was a template to "fill in the blanks" so to speak for IMrs. Domain names, account names at various services, IDs, passwords, FTP details, monetization sources, where the money comes from, listing of products for sale, where they are stored, etc. etc. My RoboForm USB stick has most of my world on it, but it's only a small view into how and where I make money. Nobody could easily run with it and pick up where I leave off.
  
  I would prefer it be in a somewhat universal, exportable format that "most" people have or can read such as Excel or Word, (CSV or plain text) being a little too limited) so most IMrs/Warriors could use it. I don't like the idea of putting it in a software program that your family would have to learn how to use, with a proprietary, non-exportable database, etc.
  
  WSO idea? Maybe so. I'll be the first buyer if it's done right!
  
  Mark
  
  Thanks
  
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LB 18 years ago

The reality is that it would not be easy for anyone, even the most trained, to simply grab another person's online business and keep it running as usual.

The best thing you can do is invest some of those internet profits you're generating into a healthy life insurance policy for your loved ones.
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Lynn Stivers

18 years ago

LB,

What about PayPal accounts and things like that? I think it's important for them to have a way to access things.

And the business stuff might be helpful - depending on how much a family member knows and how simple your business is. My kids are teenagers and they could take mine over if they wanted to - all they need is the info.

If someone didn't know anything about marketing they could probably sell the business on Sitepoint or ebay if they had the info needed to do that. In some cases that could give them as much as cashing in a life insurance policy.

Lynn

Thanks
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18 years ago

Originally Posted by Lynn Stivers

I understand your points, I'm just stating that rather than logins and such it would be sufficient to provide a list of accounts so they could be located.

A will would determine who gets what and a legal framework for dividing said assets would make sense.

If your business is successful enough to be worth selling, then I would hope you would have purchased a life insurance policy at some point with the profits. It would not put me at ease knowing that to "cash out" my wife would have to sell my assets on ebay...

I think we are on the same track here, just pointing out that there is a certain solace knowing that surviving family will have a check coming to them should the worst happen.

I don't think anyone would be at fault for preparing more than is needed.

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Audrey Harvey 18 years ago

So sorry to hear about your Mum, Michael.

I was just this weekend thinking about exactly that. My husband has no idea about IM or in fact, about any of our household finances, and if anything happened to me, he'd be completely sunk. Need to fix that up - thanks for the reminder.

Audrey
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jayden.fellze 18 years ago

It should have come as a rude shock to you when your mother passed away. Yes, we are indeed prepared for the worst case scenario and have listed everything that our only son should know in case of an eventuality to us (either single or both together, who knows what would happen). We have prepared a list of what he has to do and who to approach, etc. I think that should be more than enough for him to handle. Rest, he will have to manage as the situation demands. Let us hope our nearest ones do not suffer much to set things right.
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Christie Love 18 years ago

So sorry to hear about the loss of your Mother. My prayers are with you and your family.

As for me? Everything goes to my parents.
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Lynn Stivers 18 years ago

LB,

When you put it that way I agree.

And to be quite honest I wish my husband would have had an insurance policy - it would have made things a lot easier. Of course at the time I would have hated it because collecting on life insurance is a terrible way to get money but no matter what happens in life there's still bills to pay.

In addition to getting my online info together in one place I guess I'd better look into getting a policy on me for my family too - the longer you wait the more the payments will cost each month.

Thanks LB.

Lynn
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Don Schenk 18 years ago

Michael, my thoughts and prayers go out to you. It's difficult facing the loss of a parent.

Years ago my father did something that will forever make me grateful. He pre-purchase and completely planned the funerals for my mother and himself.

They both lived into their very late eighties, and passed on within weeks of each other. I'm an only child, so it all fell on my shoulders. Fortunately I had wonderful support from my wife and her family.

But dad's prearranging the funerals took away what could have been a difficult decision at a difficult time.

He also did what you suggested and had everything and all his paperwork outlined and reviewed by his attorney.

It made a tough time be a lot easier to handle.

Don
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UcheO 18 years ago

Sorry for your loss.

I haven't put much time into setting out a plan for what I would do if something might happen. Thats really a sobering thought.
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Rod Cortez 18 years ago

Michael, sorry to hear about your loss. You bring up a topic that many people avoid or procrastinate on. As a former financial planner I've seen how this affects people. It's critical that people invest some time understanding the difference between a trust and a will, what probate is, and to establish some kind of continuity plan for their business (even if its just to trust it over to a charity and/or family). There are so many issues to discuss that it's important that people handle this sooner much rather than later.

Your post reminded me that I need to update my own business continuity plan.

God Bless,

RoD
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warriorprocessing 18 years ago

I've prepared. made a last will and testament including account info. It's a good idea to get a power of attorney for whoever you designate to handle affairs when you are gone. It will eliminate headaches for access should the need arise.

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