Legacy Locker - Press
Legacy Locker Solves the Problem of What Happens to Your Online Accounts After You Die
Legacy Locker is launching a new service for consumers and estate planners to securely transfer a user's digital assets in the event of death or incapacitation
March 10, 2009 - San Francisco, CA -- Legacy Locker, the safe and secure way to pass online accounts to friends and loved ones, announced their upcoming service today. Legacy Locker is similar to an online safety deposit box that people use to store important online information, and allow beneficiaries to retrieve content in the event of a user's death or incapacitation.
“We see Legacy Locker filling a serious unmet need considering the modern, digital lifestyle,” says Jeremy Toeman, Founder of Legacy Locker. “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 Flickr, my multiple email addresses, and my PayPal account, they have real, significant value to me and to my family.”
Legacy Locker is simple to use, and can be easily updated and accessed from anywhere in the world. Users enter online account information in their locker, such as email addresses or photo sharing sites (and nearly everything else that requires a login). 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.
Conceptually the site is similar to an electronic will, but specific to digital information rather than physical assets. Account holders add multiple assets and create as many beneficiaries as they like. Additionally, a user can create “Legacy Letters”, the contents of which are automatically emailed to loved ones, friends, or colleagues when a death is reported.
“Legacy Locker fills a growing void in the Estate Planning industry,” says Heather Stoneman, Esq., a leading Trusts & Estates attorney in San Francisco, CA. “As families implement wills and trusts to ensure the proper passing of their physical assets, there are virtually no provisions for estate planners to help their clients plan for the future of their digital assets. It is very difficult to convince Web-based companies to release account access to the family and loved ones of a deceased user.”
The company offers its service direct to consumers, but also works with professional estate planners to help make online accounts an included part of the estate planning process. There are over 12 million households with children in the United States that have established wills using estate planners or through downloaded software. The service will launch in April 2009 and includes free trial accounts as well as $29.99/year and $299.99/lifetime paid options.
About Legacy Locker
Legacy Locker (www.legacylocker.com) is the safe, secure way to pass online accounts to friends and loved ones. Founded in 2008 by Jeremy Toeman and Adam Burg, LegacyLocker Inc. is a privately held company based in San Francisco, CA. In April, 2009, the company's service launches direct to consumers and professional Estate planners to include digital assets as an effective part of estate planning.
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