What Happens to Your Online Accounts After You Die?

2009-03-12

"Legacy Locker is the safe, secure way to pass online accounts to friends and loved ones."

In a press release published on March 10th, Legacy Locker announces the launch of its new services directed to consumers and professional Estate planners to include digital assets as an effective part of estate planning.

Jeremy Toeman, Founder of Legacy Locker, states "We see Legacy Locker filling a serious unmet need considering the modern, digital lifestyle. It's not fun to think about, but the reality is most Web-based companies have no provision for managing your account in the event of your passing. Further, when I think of the assets we create online these days like Flikr, my multiple email addresses, and my PayPal account, they have real, significant value to me and my family."

How does it work?

For every account they store, users assign a beneficiary, someone to whom they want to entrust their digital assets. In the event of the user's passing, the assets are electronically delivered to the designated beneficiaries.

Legacy Locker also allows users to create "Legacy Letters", a letter that will be automatically emailed to loved ones, friends, or colleagues when a death is reported.

Rafe Needleman, CNET News, calls Legacy Locker 'morbid, but smart'. The service costs $29.99 a year or $299.99 for a lifetime subscription. You can read more about Legacy Locker at their website: Legacylocker.com.