Do you have a process for a successor license holder?

[Kilt]

This is like an estate planning question.

Do you have a process for someone else to automatically take over as the legal license holder in the event the originating license holder dies? This could be a co-owner or joint owner process, as for real property and bank accounts. Or it could be a beneficiary designated in advance process, as for insurance policies, 401k plans, pensions, and in-trust bank accounts.

This is a real world problem that can be avoided by proper and flexible planning. The first administrator of our VB forum suddenly died, and saving the forum was a legal and lengthy nightmare because the license was tied up in the decedent's estate. The potential XF administrator is going to be another old guy -- a Scottish lawyer.

 

[Kilt]

A corporation is not required. It could be you, your wife, and mother-in-law that have account access.

I guess I'm not dropping out yet.

GW2, I'm not trying to debate, but my comment about liking the way you used a corporation for asset succession planning was in response to your earlier post that said: "Our XF license is set up under admin in the name of our nonprofit corporation . . . ." So, I assumed you have have a nonprofit corporation because you said so.

Of course, no one has to use a corporation, nonprofit or otherwise, for asset succession. It's just one way to do it. And I was suggesting that it would be a complicated way to do it for a non-lawyer or lay person without a lawyer, because I thought (perhaps wrongly) that Brogan was suggesting it wasn't complicated.

lFireflyl, thanks for that screen shot of the Xenforo purchase form. Pardon my ignorance about Xenforo's purchasing forms and business practices, but are you (or Brogan) suggesting that a buyer can literally just put "Admin" in the Your Full Name field?

 

[GW2]

GW2, I'm not trying to debate, but my comment about liking the way you used a corporation for asset succession planning was in response to your earlier post that said: "Our XF license is set up under admin in the name of our nonprofit corporation . . . ." So, I assumed you have have a nonprofit corporation because you said so.

Of course, no one has to use a corporation, nonprofit or otherwise, for asset succession. It's just one way to do it. And I was suggesting that it would be a complicated way to do it for a non-lawyer or lay person without a lawyer, because I thought (perhaps wrongly) that Brogan was suggesting it wasn't complicated.

Your assumption is correct. The forum I administer is as a volunteer for a nonprofit corporation. However, a corporation is not required to setup a similar arrangement. It could be family members, friends, a hobby club, or whatever. It's just a matter of how you set up the account.

 

[Kilt]

GW2, it seems we're talking about corporations in two different contexts. As I now understand it, you happen to be the admin of a forum for a non-profit corporation, but that corporation is not set up to function as an asset succession mechanism in the case of your death.

My whole topic in this thread is about a mechanism for an XF license automatically to invest in another person upon my death.

One way for that to happen would be for Xenforo to allow the named purchaser to be "Kilt and Eve, jointly with survivorship". Brogan says Xenforo doesn't do that. A second method of succession upon death would be to use a corporation, as I've described. There are other ways.

However, I am now more interested in the answer to the question lFireflyl prompted: Can a XF buyer literally just put "Admin", and not an actual real name, in the Your Full Name field?

 

[IFireflyl]

I'm pretty sure the only reason for they ask for the name would be to use it as a security question. Meaning you could put CEO/COO/President of [Business Name] if you wanted to. Also, they aren't verifying identities. If I put my first and last name as Mike Oxsmall (heh heh) they would have no idea that isn't my name, nor would they care aside from it possibly being used as a security question if I needed to recover my account or something. @Brogan or @Kier, feel free to correct me if I am providing misinformation.

 

[AndrewSimm]

The company should be setup in a way to define who owns the domains, data, licenses, etc in time of death. The XF license is the cheapest thing to replace.

 

[GW2]

The company should be setup in a way to define who owns the domains, data, licenses, etc in time of death. The XF license is the cheapest thing to replace.

I agree. In estate planning, bequeathing your Xenforo license in your will to a corporation or a relative is of minimal value. Your inheritors could simply purchase another license. The disposition of domains and related data that are you "own" may be considered to be personal property. You can direct the administrator of your estate how dispose of your personal property...depending on the laws of what state and country in which you reside.