How can writers set up their earnings to pass onto their families when they pass on
Ok we are earning money from writing now. So what happens to our earning when we die. Is there a guaranteed way to have our earning pass onto our family when we die. Not just for hubs but for any site we write for.
How can we set it up so it is legal
What a superb question, this is something which has actually been on my mind for quite some time now. I don't know if perhaps login details could be included in a will to allow someone to take over the accounts after we are gone or something but I feel that this is an important topic for all of us hubbers to consider.
Hi Eileen, I don't have an answer for you but wanted to follow this question as it is something I have wondered about too.
I guess with Adsense that whomever you wanted to pass the income to would have to set up an adsense account and get it authorised and then use that in place of yours. Same with Amazon. I imagine that you would have to specify in your will which web properties you would want to go to whom.
In the case of websites, these could easily be transferred to a different person. but all the relevant account details, passwords and hosting would have to be recorded for someone else to use.
Give your loved ones all of the websites you are on with the logins and passwords. The earnings should go to a bank account that is in both names so that the earnings continue.
That is a question I've wondered about as well. I think it's something worth discussing with your estate attorney. my_girl_sara had a great suggestion about leaving logins and such with others so that it can be accessed. If you publish a hub on this, I'd be anxious to read it.
Great question! I hope someone knows the answer because I do not. I'm going to follow this too.
Wouldn't our earnings be transferred to our paypal account? And wouldn't our paypal account be linked to our bank account? So, all that needs to be done is to have the bank balance and account details passed on to our loved ones..
Again, I am saying this from the perspective of hubpages and paypal account, specifically for India. I am not certain, if this applies to other countries or for that matter other accounts. So long as the question is limited to hubpages, the answer is pretty simple.
Great question! wow! I wonder if you need to assign an heir to your earnings in your will. If so (and consult your tax adviser) then the worth of the income would be calculated and included in your taxable estate. and then the new owner would be the owner of income to come.
This is not the best solutions. I liked the one where joint ownership is assigned to it BEFORE a writer passes on, so there aren't complications and additional taxes inside the estate tax laws.
What I am concerned about it the fact that when we started writing way back then we never thought about this. I believe that when we die or pass on that our bank accounts will be closed. Unless of course they are joint accounts. So it is a worry.
I have got it setup to give my son all my login info. for all my writing sites and all my social sites.
I only see one problem who is going to update and promote the articles. I can't train him. He lives 2000 miles away.
Your question is a very good question, Eileen. My suggestion to you is to include, in your will, exactly what you want to have done with your resources, all resources, material resources (which include cash, bank accounts and other resources, houses and lands, etc), and also, any "potential" resources that are due to you in the future. This way, your family will have documented proof showing how you wanted you possessions passed on to your family or whomever.
Whenever any writer opens up his account with any of the web site like hubpages.com etc., he should mention the nomination of his next of kin or legal heirs like spouse, children and if unmarried the details of parents should be filled up. In case of any eventuality, the earnings can be remitted only to the NOK/legal heir or family of the deceased writer.
An update. I actually closed my ad sense account as when you are a pensioner and you earn anything at all in Australia you have to declare any earnings even as a very rude woman stated to me that means even if you earn 1 cent.
So I just could not be bothered going back and forth and often finding that my husbands pension was stopped because he did not keep going in and telling them that he was not earning anything. They were not interested just because I earn $5 a month he was penalized.
I sold some of my articles on another site. And just started writing for another friend and write on her account. If any money is earned she has it. I just like writing and was not bothered about the money any more even though it would be good to earn, the small amount was not worth the hassles.
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