FAQ

What will happen to my account after my death?

When your account is activated and the safety delay has been met, all of your data fields are locked and no more information can be added or removed. Access to your account information is sent to your designated Trustees.

The contents of your account can be stored with us for up to two years after the account is activated.

How will LegacyVault know that I have died or become incapacitated?

Through our Account Activation system. You designate Activators who notify LegacyVault about your status. In the event that your information is to be released, Activators must login to their LegacyVault accounts and alert us. When your Activators have done so, and after a time delay has passed (allowing you to cancel the activation), your information will be sent out to Trustees that you specify.

How do I update my personal information?

Log into your LegacyVault account.

Click your name at the top of the page to open up a dropdown menu.

Click "Account Info".

Update your account information on the corresponding popup.

What if I forget my password?

Click the Forgot Password link. Enter your email address and you will receive an email with the steps that are required for you to obtain a new password.

What happens if I lose my password and cannot recover it?

Please notify LegacyVault. If you are unable to recover your password, we may have to perform an account reset which could risk losing important data.

What if my account is activated in error?

When your account is activated, the safety delay time period begins. None of your information is released until the time period has passed. You can set a safety delay of up to 14 days when you set up your activation system process. The delay is the number of days you want LegacyVault to wait between the account activation and sending the information to your Account Trustees. The safety delay safeguards your information in the event of a false activation.

During this time period, you can log into your account and stop the activation process.

You can also choose to require multiple activators to activate your account instead of one individual. This reduces the risk of accidental or malicious activation.

What is the Account Activation system?

The Account Activation system is how LegacyVault releases your important data to the people you specify. The Activators you elect notify LegacyVault that you have passed or become incapacitated. You may specify how many Activators it takes to send out your information. After a safety delay, which allows you to cancel your activation, your important data is sent out to the designated Trustees.

What is an Account Activator?

Account Activators are the people you have asked to help you activate your LegacyVault account in the event that something happens to you. You should have several Account Activators to ensure your information is properly released.

When you designate an Account Activator, we send them an email request asking them to accept the responsibility and confirm their role.

What is an Account Trustee?

An Account Trustee is a person you designate to receive the information you preserve in your account. Making someone a Trustee of your LegacyVault account does not make the person a trustee in the legal sense. A LegacyVault Account Trustee is not a legal appointment.

Can an Account Activator see my data?

No, Account Activators cannot see any of your information. Activators are there to notify LegacyVault if something were to happen to you and to help you reset your password, if needed.

Can an Activator Trustee see my data?

Yes and no, Trustees cannot see your information until after the activation safety delay period has expired. Your Trustees will not be allowed to edit or delete information once they have access to your account. They can only view or download your data.

Can an Account Trustee also be an Account Activator?

Yes, you can have an individual be both a Trustee and an Activator at the same time.

What is a will?

A document in which a person specifies the method to be applied in the management and distribution of their estate after their death. See http://legal-dictionary.thefreedictionary.com/will for details

Is an audio or video will valid?

This will depend on the laws and requirements of the state in which you live. In some states, they are not valid on their own, but are useful as a supplement to your written will. A video can become useful to prove you actually signed your will with a proper witness, without being under any duress - reducing the possibility of people contesting the will.

I have a will from NY and I live in Texas, is the NY will valid in Texas?

It depends, while your will may still be valid after you move, certain parts of it may become unenforceable or may require changes due to the unique laws of your new state. Consult an attorney in your new state to ensure your will is still valid as a whole.

Is LegacyVault a will?

LegacyVault is not a will. However, you can upload your legally formed will onto your LegacyVault account.

What is a "Living Will or "Health Care Directive"?

A “living will" or "health care directive” specifies what actions should be taken in the event you are no longer able to make decisions, due to illness or incapacitation, particularly with regard to the administration of life-prolonging measures.

What is a DNR?

A "do not resuscitate" (DNR) document, often called a “living will,” is a binding legal document that states that resuscitation should not be attempted if a person suffers cardiac or respiratory arrest.

What is a trustee, in the legal sense?

A trustee (different from LV’s Account Trustee) is a legal term referring to an individual named by the maker of a trust. This person is given powers over the administration of property in a trust with legal obligation to manage exclusively for the purposes that were specified. In other words, this person holds property, authority, or a position of trust or accountability for the benefit of another. A trustee can be held legally responsible to the beneficiaries of the trust if he/she invests the assets of the trust in a reckless fashion.

What is an executor?

An executor is a legal term referring to a person named by the maker of a will to carry out the directions of the will. Typically, the executor is the person responsible for offering the will for probate, although it is not required that he or she fulfill this responsibility.

The executor's duties also include disbursing property to the beneficiaries as designated in the will, obtaining information of potential heirs, collecting and arranging for payment of estate debts and approving or disapproving creditors' claims. An executor will make sure estate taxes are calculated, necessary forms are filed, and tax payments are made. They will also assist the attorney with the estate.

Additionally, the executor acts as a legal conveyor who designates where donations will be sent by using information left in bequests that leave gifts for charities or other organizations. In most circumstances, the executor is the representative of the estate for all purposes, and has the ability to sue or be sued on behalf of the estate. The executor holds legal title to the estate property, but may not use the title or property for his or her own benefit, unless permitted by the terms of the will.

Typically, your executor will also be one of your LegacyVault Account Trustees.

What is an estate plan?

An estate plan is a plan that typically attempts to reduce taxes and expenses to eliminate uncertainties over the administration of your estate. Your LegacyVault helps you compile, organize and protect all of the assets of your estate. By providing extensive LegacyVault reports to the correct people, you help reduce the cost and trouble of your heirs having to hire people to search and find your assets and debts.

What is probate?

Probate is the court-supervised process of gathering a deceased person's assets and distributing them to creditors and inheritors. Probate can get very expensive and take a significantly longer time to complete if you die without a will.

What is the probate process?

When you die, it is recommended that your heirs hire a lawyer to file your will at the local courthouse. The will is then taken before a judge. The judge reviews the will to determine if it is valid. The judge then signs an order granting power to the executor named in your will.

The executor is the person you choose to carry out the directions of the will, so be sure to pick someone you trust to be capable of handling your affairs properly.

What does it mean to "die intestate"?

A person is said to have died intestate when there is no will. (“Intestate” means “without testimony.”) Without a will, your heirs may not know of your wishes or instructions for funeral arrangements, distribution of property, guardians for your children, and so forth. Without a will, there is no executor in the legal sense. The court appoints an administrator for your estate. This person may or may not be the executor you would want, and is paid by the estate for their services at rates that are approved by the probate court.

LegacyVault helps you clarify your instructions and wishes so that you can provide your heirs with all of the legal, financial and personal guidance they will need.

What is the difference between a trustee and an executor?

An executor is essentially a liquidator. His/her role is to conclude the business that you conducted during your life. An executor also has the highest duty of care in administering the estate for the benefit of the estate’s beneficiaries.

A trustee is essentially a manager that is responsible for investing and administering the assets of the trust. A trustee has the highest duty of care to administer the assets of the trust for the benefit of the trust’s beneficiaries.

An executor and a trustee are comparable in that they both have a duty of absolute care to the beneficiaries of the estate/trust, but their roles are quite different.

Why should I subscribe to LegacyVault?

With LegacyVault you can preserve and protect what cannot be replaced.

Use our convenient and all-in-one dashboard to streamline your day to day activities. Keep track of all your financials, log your thoughts into the Journal, upload memories and important documents, and even stay up to date with each and every appointment and key date.

In addition, most of us work all of our lives to protect and provide for our families. Yet so many of us forget to make plans to protect them after we are gone.

Unfortunately, after a parent has passed away, brothers and sisters are often left with conflicting views concerning many of the details not covered by the will. Having your information organized and your wishes clearly stated will help to eliminate the confusion. You can also reduce the amount of disputes that arise from emotional distress by leaving a few videos for guidance.

You never have to worry about your hard drive crashing or your computer getting damaged or stolen. You also never have to worry about your photo’s being ruined in a fire or other natural disaster.

Our service is accessible 24 hours a day, 365 days a year, from any location in the world.

What is LegacyVault?

LegacyVault is an encrypted, legacy management platform designed to organize virtually every aspect of your life. This versatile tool has everything you need for effortless access to your documents, photos, videos, finances, calendar, and contacts. Users can also share these memories, documents, and last wishes with their Trustees, when the time comes. All of this under one guiding principle – Our users privacy and security is number one. LegacyVault has encrypted the site so that the data cannot be accessed or viewed by anybody but the user, including our staff at LegacyVault.

As a society, we are increasingly moving our banking, record keeping, and correspondence into the digital realm. The paper trail we have always relied upon is quickly disappearing. Along with traditional assets (such as wills, deeds, and end-of-life instructions), LegacyVault can safeguard your account IDs and passwords. Think of us as your online filing cabinet.

I already have a will. Why would I need LegacyVault?

We know it can be hard to face the facts of loss and death. That’s why it is so important to plan ahead, and why we encourage families to prepare.

By providing your family with all of the information they will need in times of crisis, you will also be providing them with peace of mind. You can help them through the transition by providing personal messages and instructions to add clarity to the property distribution described in your will. Your personal photos and final words can be a source of comfort in a time of grief. And your forethought in organizing, curating and preserving your family legacy saves your loved ones from the hassle and frustration of trying to piece it all together after you are gone.

How do I know LegacyVault will still be around in twenty years?

We have been in business for several years and many of the companies that we partner with have been in business for decades. Our respective families have owned and operated several businesses for over 100 years and our commitment to LegacyVault is long term. We invested years of development before we launched LegacyVault and we have assembled a strong and vibrant management team that brings tremendous experience to our business.

We also pre-pay for some of our services for several years to ensure continued operations.

What can I preserve in my LegacyVault account?

People. Provide the names and contact information for your children, grandchildren, children’s designated guardians, dependents, business partners, doctors, financial advisors, lawyers, and other important people. We even have a place for you to record information about your pets.

Possessions. Create and store detailed lists of assets and liabilities that are often not listed in a will. This helps your executor locate and settle your estate.Document storage. Preserve copies of important documents such as wills, deeds, appraisals, insurance policies, mortgages, DNRs, living wills, and durable power of attorneys.

Document locations. Provide your heirs with the locations of the paper copies of your legal documents, including the executed original of your wills and codicils.

Account access. Provide account numbers and passwords to allow your heirs access to your bank accounts, safe deposit boxes, social media accounts, credit cards, association memberships, travel clubs, and other services.

Multimedia storage. Store audio files, pictures and videos. With the advent of social media and consistently changing forms of media, it’s much simpler to have just one place to store everything from scanned copies of your grandparent’s wedding pictures to the happy birthday video your granddaughter sent you from a glacier in Argentina.

Family treasures. Preserve a video of your mother’s special recipes, jokes, family legends, stories, and other elements of your family legacy -- the moments and traditions that make your family unique.

Do you keep all my email addresses private?

The only email address LegacyVault is able to access associated with your account is the email address used to login. LegacyVault does not share this email address with anybody.

Is my information private and secure?

Of course! Your information is yours and only yours -- until your account is activated and the information is released to your Trustees. Your information is not only confidential, but encrypted as well. We are not able to decrypt your information nor are we able to see it. Your privacy and security are the cornerstone of our business. For more information, please visit our Privacy Policy https://www.legacyvault.com/legal

Will anyone else be able to view my information?

No. Nobody else can see any personal information, documents, videos or any other content within your account.

Your Trustees are the only people with access to your account after your account has been activated and the safety delay has been met.

Is my data safe from theft, flood, and fire?

Yes. Your information is kept in several secure data centers in multiple locations. All of our systems are backed up regularly.

Does LegacyVault give legal or accounting advice?

No, LegacyVault does not give any legal or accounting advice.

Does LegacyVault recommend any of the service providers on the site?

All of the service providers shown on LegacyVault are advertisers. LegacyVault does not give any advice or make any recommendations as to what vendor you should use. For more information, please visit our Terms and Conditions page https://www.legacyvault.com/legal.

Can I advertise my service on LegacyVault?

Please contact us to discuss advertising. https://www.legacyvault.com/affiliates.

Can I use my LegacyVault account as a will, testament or codicil?

No. Your LegacyVault account provides secure, private and safe storage for important documents such as wills and codicils. LegacyVault is not a substitute for legal documents.

A will or testament is a legal declaration in which you name one or more persons to manage your estate and provide for the transfer of your property at death. A codicil is an addition or supplement that amends the terms of the will or testament. Wills, testaments and codicils must be in writing, and they require signatures and witnesses. Audio and video wills and codicils are not valid.

Countries, states, provinces and regions often have different legal requirements for wills, testaments and codicils. For example, there are differences in the number of required witnesses, whether oral or handwritten documents are acceptable, and whether only certain family members can inherit land.

Can I upload an executed copy of my will, testament or codicils to my LegacyVault account?

Yes. This is exactly the type of important document that we developed LegacyVault to protect. We keep your documents safe and private. When your account is activated, only the Account Trustees will receive copies.

Is LegacyVault HIPAA compliant?

No. LegacyVault is not designed for HIPAA-compliant storage of medical records.

How much does it cost?

LegacyVault is free for a basic account or $14.99 billed monthly for a premium account.

How will I know that my subscription is about to expire?

We will notify you one month before your account is up for renewal. After you renew, we confirm your payment and we will send you a receipt for your records. If there are any problems with the billing you will be immediately notified by email.

You can also sign up to have LegacyVault automatically renew on an annual basis.

What is the refund or cancellation policy?

You may cancel your account for any reason, and at any time, from your account Dashboard. Full refunds are available if you cancel your account within seven (7) days of opening your account. No refunds of any kind are made after that point.

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