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What if you died today!

Discussion in 'BlackHat Lounge' started by jdog37, Oct 3, 2010.

  1. jdog37

    jdog37 Power Member

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    It just crossed my mind a few minutes ago to wonder what would happen if I died today. What would happen to the income I make online.

    I only make about $800 a month from IM. About $500 comes from checks and $300 goes to paypal.

    My family only has the knowledge that I am somehow making money online but not the slightest clue of how or where the money comes from.

    I use mostly free sites like ezine, squidoo, and hubpages. Pretty much ranking well and no maintenance required.

    So what would happen if I died today?...I have no will so all my assets would go to my family. But what about future income from these sites I have going?
    Checks from clickbank to a dead person!...Can my family cash them? What about my paypal account and the steady stream of income going to it each month?

    Have any of you guys thought about this?....If so, what have you done to make sure your family gets your earnings?

    I assume setting up an llc would take care of the future earnings issue since you would be passing your business on to your heirs. Any future earnings would be passed on through the business (along with tax obligations)...Anyone feel free to correct me as I am only assuming.

    Even with an llc the business would die eventually with noone running it. What about account login info?...Do you keep these written down?...Would someone else know what to do with them?...What about domain and hosting renewal?

    I don't plan on dying anytime soon but you never know. Now that I think about it, keeping a detailed record of everything you do would not be a bad idea.

    All thoughts, ideas, and opinions are appreciated.
     
  2. hateandbreak

    hateandbreak Supreme Member

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    I Wouldn't be able to Be in the Next biggest Metal band! And that I'm serious!
     
  3. giansim

    giansim Registered Member

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    Hi,

    So you need to invest your online income to offline business and investments =) Stocks, real estate, and maybe invest some of it to startup companies =)

    Gian Sim
     
  4. jdog37

    jdog37 Power Member

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    Well in my post I was more concerned about my family losing the fruits of my labor.
    In your case the entire world would miss out so you got me there bro!
     
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  5. jdog37

    jdog37 Power Member

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    Don't make enuff for that...Just wondering what happens to my residual income after I am dead. How to ensure my family gets the income earned through clickbank, adcend, and CJ if I get hit by a bus tomorrow.
     
  6. manudevil20

    manudevil20 Jr. VIP Jr. VIP Premium Member

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    I am only 22 but i worry about that sometimes. I just opened up a joint checking account with my GF that i have been with forever. Everything i have is direct deposit so i will just leave her everything i have. Ther are alos other ways to do it but i do not know too much about them.
     
  7. hateandbreak

    hateandbreak Supreme Member

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    Btw once you die It's all good your Free No more Worries about anything....Just don't think about it now Because your alive ad It's a privilege! ;)
     
  8. giansim

    giansim Registered Member

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    Hi,

    I see. Well maybe, you can give instruct one of your most trusted family members what to do whenever that happens? A screenshot pdf perhaps? =) Do you outsource your work or you do it all yourself? Then maybe setup a company and make your family members as shareholders =)

    Gian Sim
     
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  9. hhr111

    hhr111 Newbie

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    If you are in the USA, then at least buy a term life product. Depends on your health in regards to prices. If your healthy, a term life policy will be affordable. If you die your beneficiary will get paid. They will probably need the money.

    There are also life policies available if you have diabetes, are fat or are 60 years old or older. Don't die without life insurance, especially if you have dependents!
     
  10. bobbys

    bobbys Regular Member

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    I always worried that if I died today, someone from my family would one day go through my computer looking for photos and memories and mistakenly stumble upon my porn collection.
     
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  11. jdog37

    jdog37 Power Member

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    Yeah but I would roll over in my grave if gaypal or clickbank got to seize my cash cause it was not claimed....Would rather pay it in taxes or burn it all in one big pile :rolleyes:

    Was giving this some thought...A video tutorial would be best for my family.....thanks given.

    Not worried about that so much as worrying about my IM legacy dying with me....sorta like buying life insurance and let your retirement plan revert back to the bastards you worked with for 40 years.
     
  12. hateandbreak

    hateandbreak Supreme Member

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    You Didn't understand! Once you die It's over! No more! lol Forget about it :)
     
  13. tacopalypse

    tacopalypse Executive VIP Jr. VIP Premium Member

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    if i died today my bank account would just continue to accumulate money for at least a few months. i don't even receive checks, just direct deposit into the exact same account that's funding all my advertising campaigns, so the money would just keep flowing in and out potentially indefinitely. it's kind of hilarious in a morbid sort of way.

    if you wanted your family to get the earnings, you could probably just set up a joint bank account or something, and then give them all the passwords to your websites with instructions on how to maintain them.

    i think there's quite a few online services that will deliver messages to your relatives in the event of your death.
     
  14. jdog37

    jdog37 Power Member

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    Is why I don't download porn and delete my browsing history.
    I do sometimes miss the sticky splatters on my monitor but can always pawn them off as sneeze residue during the allergy season. :D
     
  15. jdog37

    jdog37 Power Member

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    Is why I don't download porn and delete my browsing history.
    I do sometimes miss the sticky splatters on my monitor but can always pawn them off as sneeze residue during the allergy season. :D
     
  16. Hunwarrior

    Hunwarrior Jr. VIP Jr. VIP Premium Member

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    My little brother just got married.

    After the wedding i have gave them (well, of course a after the real gifting) a list of all accesses to all my online accounts, and a short description, what should be done in case if i just dont wake up the next morning.

    My situation is unique, cos i am "resident" in 3 countries, so tax offices are not really aware of my income.

    So if i just die tommorrow, my brother will have a tax free income for a while , arriving on my name into various bank accounts. ;)
     
  17. teeniegenie

    teeniegenie Supreme Member

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    Start teaching your wife/gf what you do so the chances of that $800/mo continuing to come in after you die increases...
     
  18. Sanitarium

    Sanitarium Regular Member

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    I guess making love to your eyes since you're read
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    In your mind.
    A month after your death, your earnings would probably move from $800 to $2000 or you'd be banned for dying.
    Ironic?
     
  19. Delboy2424

    Delboy2424 Regular Member

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    wouldnt be here to worry about it so wouldnt care!!!
     
  20. angelas111

    angelas111 Jr. VIP Jr. VIP Premium Member

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    i thought about this too. i was thinking of making a detailed notebook of my websites and passwords and account info in the event something happens. its morbid and i hate to think about it but it would be irresponsible not to plan ahead.