If you own valuable domain names and you have spent a serious amount of money buying domain names, it is important for your significant other or family to know what to do in case something happens to you. Because domain investing is my job, my wife hears about my business every day, and she has a pretty good idea about who I trust, where I do business, and how the business works.
One thing I have done to help my wife and family in the event something unexpected happens to me is I created an emergency contacts list that I update once or twice a year with important contact information. These are the people who can help my wife and family secure control of my business assets and strategize on go-forward operations should something happen to me.
I want to share what types of contacts I have on my list because other investors should consider doing the same thing.
My emergency contacts list includes:
- Domain registrar account managers and executives
- IP attorneys
- Business attorney
- Business bankers
- Trusted friends
On this contacts list, I include titles, company names, email addresses, phone numbers, and other business relationship information that would be helpful.
As I have learned over the years, when someone dies unexpectedly, people seem to come out of the woodwork to offer support. I am sure most of these people are offering assistance because they knew the person who passed away and genuinely want to help the family as best as they can. A small minority of people seem to want to help – themselves to that person’s domain names at a fire sale discount as if the family needs money urgently.
While it is important for my family to know my domain registrar and service provider contacts, it is equally important for them to know a handful of my trusted friends who would assist in any way possible, as I would do if something happened to any of them. My wife knows there are probably more friends who would offer assistance, but sometimes having more people involved makes things more complicated.
Creating a list with the names of business contacts can make things easier for family should there be a crisis.