Online Services Offer Estate Planning for Digital Assets

Once upon a time, when life was less complicated, the key to a safe deposit box was all loved ones needed to unlock the secrets of a life recently ended. Today, many aspects of our lives -- both financial and personal -- are lived in places accessible only by password. We have e-mail addresses, Facebook and MySpace profiles, and accounts with PayPal, eBay, and online brokerages and banks. In addition, many people communicate regularly with people they know only through game or social networking sites.



When a person dies, access to these accounts and contacts can be lost or extremely difficult to retrieve. As a result, a small online industry has sprung up to help people pass on the digital keys to their online lives should they die or become disabled. Call it "digital estate planning" or creating a "virtual executor."



On a typical site, users sign up and pay an annual fee to upload everything from crucial online passwords to gym locker combinations into a private account. Upon the user's death or disability, the individuals they have designated to receive this private information are notified about how to open the account and access the information. These people may also receive final wishes and a farewell e-mail from the deceased. Some sites even allow users to store estate planning documents like wills and advance directives.



For example, AssetLock (formerly YouDeparted.com) offers a "secure safe deposit box" to hold such things as digital copies of important documents, final messages for family and friends, passwords, hidden accounts, and lock combinations. Once a minimum number (set by the owner) of recipients sign in and confirm the owner's death, the account is unlocked after a time delay (which also can be set by the owner). Similar services are offered by Deathswitch , LegacyLocker and Slightly Morbid



Other services focus on assisting people in sending important messages to loved ones. GreatGoodbye allows users to store e-mails, photos and videos that will be sent to those closest to them in the event of their confirmed death. Similar services are offered by EternityMessage and Last Post.



You can read more about these services in articles in USA Today , PCWorld and the Everyday Estate Planning Blog.