Estate Planning for Domain Names Guide (With Examples & Template)
By Michael Cyger & Aline Carriere , Instructors of DNAcademy
If you died tomorrow would your family inherit your domain names or would they expire and benefit third parties like registrars, drop-catching services, and other investors?
If you died tomorrow would your family inherit your domain names or would they expire and benefit third parties like registrars, drop-catching services, and other investors? The answer depends on you. Stay tuned and I’ll tell you what you can do about it.
Hey everyone! My name is Michael Cyger, and I’m the founder and lead instructor of DNAcademy.
If you don’t make any plans for your domain names after you die, they will eventually expire and be auctioned off or dropped.
And you know who benefits? Not your family or your beneficiaries. The winners will be third parties like registrars, drop-catching services, and other investors.
And it’s a shame. We spend a ton of time learning about, investing in, and holding valuable domain name assets for appreciation.
Our friends and family see our passion, but don’t really have any idea what we’re doing or what value our domain names have.
So it’s not surprising that if an untimely death happens, that the assets expire.
In February 2013, for example, a domain name industry visionary named Igal Lichtman passed away without a domain name estate plan in place. After his death, in the course of just one week, three domain names from his company, Mrs Jello LLC, were auctioned off because renewal fees weren’t paid. Those three names alone — out of a large portfolio of domain names — sold for approximately $75,000 in the wholesale domain name market. That likely would have been five to 10 times higher in the retail domain name market.
Now, if you have only a handful of domain name that aren’t valuable, then allowing them to expire is likely inconsequential and may be the easiest course of action.
But, if you own a large portfolio, valuable domain names, or domain names with significant traffic, then it makes sense to leave them to someone who can benefit financially from them.
Fellow DNAcademy instructor, Aline Carriere, and I wanted to make sure that happens.
So we spent months writing, editing and designing the “Estate Planning for Domain Names” guide, and we’re giving it away for free to you — because we don’t want to see your hard earned and valuable assets benefit someone else.
In the free guide, we present a framework that will make it easier for you to understand what to do. We also provide a template that you can download and modify, as well as show you what a good estate plan might look like for two fictitious investors.
I hope you find this free guide helpful. And — just so you know — this is exactly the kind of information you can expect to find inside DNAcademy. We help you think more strategically, act more tactically, and achieve better results faster than if you went it alone. Please consider signing up for DNAcademy. I’d love to see you on the inside.
If DNAcademy is not for you but you want to show your appreciation for the benefit that this free guide has provided, I encourage you to make a small donation to Camp Korey — a summer camp built for kids who have life-altering medical conditions that miss out on the joy and adventure of childhood because of their physical limitations, their treatments, and their regular medical appointments. It’s 100% tax deductible, and you can learn more about Camp Korey and my NYC Marathon to support them at Mike.run. Just click on the “Sponsor Mike” button to learn more.
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