Estate Planning

Sharon Gaudin has written an article, published online on ComputerWorld, which asks the questions: When people plan for their death, they make sure their homes, cars and money are left to someone. But what about their Facebook page? A San Francisco company, Legacy Locker, is slated to launch their digital estate planning service in April.

"We see Legacy Locker filling a serious unmet need considering the modern, digital lifestyle," said Jeremy Toeman, founder of Legacy Locker. "[M]ost Web-based companies have no provision for managing your account in the event of your passing." He further suggests that the assets we create online these days like Flickr, multiple email addresses, and PayPal accounts, have real, significant value to the user and the user's family."

Social networks continue to grow in the US and around the world, resulting in a lot of personal pages out there that will have to be dealt with someday.

According to Nielsen Online, social networks, like Facebook and Myspace, have replaced e-mail as the fourth most popular online product. Social networking sites now are used by two-thirds of all online users worldwide.

Toeman launched Legacy Locker, which will work directly with consumers or with estate planners, after the death of his grandmother, an avid e-mailer and online Bridge player. The family found that it had no way to access her accounts or respond to her emails.

"Users enter online account information, like logins and passwords to e-mail, photo sharing accounts or social networking sites, into their 'locker' and then assign each one a beneficiary. When the user dies, the information is digitally delivered to the appropriate beneficiary.

Users also are able to leave what the company calls Legacy Letters, which will be sent to friends, family or co-workers upon their death."

The service is scheduled to launch in April. Free trial accounts will be available, while paid programs will cost US$29.99 per year or US$299.99 for a lifetime.

SOURCE FOR POST: ComputerWorld