LegacyLocker: The passing of your Digital (Accounts) Assets to your loved ones

We’re all bound to pass away in this life at some point that’s why in our offline lives we have wills and trusts to ensure that our assets will be passed on to the next person that we would’ve wanted to give it to. But how about our online lives? In a nutshell, Legacy locker allows the secure transfer of email, social network, paypal, etc… accounts to beneficiaries that we wanted to pass it on to. What’s great about it…

… is the concept itself which is really unique, where ‘digital will‘ has not been seen by many (As web 2.0 is not so old) as a necessity until this website emerged. There’s a similar website which I’ve covered before which is called FarAwayFish, but this only allows messages to be sent to loved ones as opposed to digital accounts (which LegacyLocker also allows). What I also like about it is that it ensures security of your transfer by the use of 512-bit hash keys which is really tough to crack. The user interface is also really nicely designed with a clear message and relaxing fonts.

How it works is by the user assigning a trusted person to be able to receive which digital assets that he/she owns, it is also that trusted person that would report “the passing” of the user to the system to enable them to get access to the digital assets that was left for them by the user. The best thing about it is that it is a freemium service, where you could get a free account but is limited to 3 digital assets (to pass on), 1 Beneficiary, and 1 Legacy letter. There are also paid accounts like Annual Plans which costs $29.99 where everything is unlimited. Or if you’re looking for a one time payment then $299.99 will give you all unlimited for however long you want to use it.

What I really admire is their monetization strategy, as the expenses are low especially with the web hosting (mostly text files) and it could be bundled up with other services (like estate planners). The online / offline tandem is really excellent as for a low fee of $299.99, planners could sell it easily with their funeral plans (bundled). It will also guarantee that the website will continue to exist for a very long time with a low overhead expense with its operations.

Overall, I love the plain basic concept of this website. It’s simple and easy to understand the moment you land on their web page. The niche is also untapped which gives this website a great head start into the market. I admire the concept and it’s monetization and it would be interesting what other competitors will do to enter the market.