"It's simple, smart, and unique backup service" - that's how Jeremy Toeman described "Legacy Locker," which he introduced on Tuesday. Toeman stated that Legacy Locker is a new backup and storage service aimed to serve the customers who want their digital properties to be transferred to their loved ones, after they die.

San Francisco based Legacy Locker will work like an online locker, where the customers will be able to store digital assets. It will be an online repository for passwords, access codes and digital assets. The service will backs up and store its customers' digital assets; it will back up the passwords and access codes to its customers' online accounts, and the service will transfer its customers' electronic information to the people chosen by its customers, after their demise.

According to Jeremy Toeman, Internet has become a popular place to create digital archives; people commonly store their photo albums, documents, correspondence, and video clips on Internet, but when someone dies, it becomes difficult for the person's loved ones to access the dead person's digital assets; sometimes it requires lawyers' intervention, and sometimes become impossible because of a web site's Terms of Service.

In a statement, Jeremy Toeman, founder of Legacy Locker, said, "We see Legacy Locker filling a serious unmet need considering the modern, digital lifestyle. It's not fun to think about, but the reality is most Web-based companies have no provision for managing your accounts in the event of your passing." According to the founder of the service, Legacy Locker will attract the people who are interested in protecting their digital assets.

On the Legacy Locker site, the customers will get accounts that will work like online lockers, where they will be able to store their user ids and passwords, e-mail addresses, online photo albums, and log-in credentials associated with social networking sites, PayPal, etc. A customer will assign a beneficiary, who will be able to access the account after the death of the customer. The company will transfer the electronic assets of a dead customer to the beneficiary named by him/her.

Legacy Locker, which is presently in its beta stage, is primarily preparig to accommodate 12 millions American households. The service, which will offer a free demo to test out the interface, will be available for $30/year and for $300/lifetime.