What is Webacy exactly?
Webacy is an online platform that helps you protect your digital assets for the unexpected. Webacy allows you to decide what you want to have happen to your social media accounts and your digital assets (like cryptocurrency and NFT’s). You’re able to use the tool to pick a set of beneficiaries (that we call your Inner Circle), decide on how you want your accounts to continue on, and to whom you’d like your crypto to be distributed to. You can even leave messages and valuable memories and files behind for your loved ones.Webacy also provides additional tools in our Crypto product to help you secure your assets, including assigning a backup wallet, and more. Some of these features will be useful to you while you’re still alive.
You aren’t. Webacy adopts a no-access policy, which means that we don’t hold your passwords anywhere. We don’t generally recommend it for our users primarily because we offer a more user-centric way to pass along data (you get to choose what you want to leave behind), vs leaving accounts open for others to access. If you’d truly like to pass along your passwords, we recommend using a password management service like LastPass or 1Password. Even in Crypto, we don’t ask for keys or backup phrases. No one accesses your wallet but you.
No. We are definitely not a law firm and do not have any powers that are associated with an attorney relationship. We are an online tool that allows you to create your directives and to create an addendum document to your will (for your accounts). On the Crypto side, we allow you to create an automated will that will carry out on your death. All legal and tax ramifications for both these tools should be discussed with your appropriate legal counsel.We’ve worked closely with estate and tax attorneys to create a process that works well with traditional instruments (like your “offline” will) - but we can’t guarantee that there won’t be additional clarity needed that you’ll need to discuss with your lawyer.
By e-signing your user services agreement with Webacy, we are going to be provided the status of “designated beneficiary” under the RUFADAA (Revised Uniform Fiduciary Access to Digital Assets Act) as enacted in your respective state. As of now, it is unclear if this supersedes the preferences you’ve set under the Facebook Legacy contact function. We recommend that you set both your Legacy and Inactive Account manager preferences to be the same as what you’ve stated in Webacy, to avoid confusion.
As stated in the RUFADAA in your state, your preferences in your Will or Trust will be subordinate to preferences you state in any online tool. As long as you have your identity verified within Webacy, your preferences will stand until you revoke them or delete your Webacy account.
Your Inner Circle members are your beneficiaries to your digital accounts. They can also view messages you’ve left behind, and have access to your Shoebox. You may unilaterally revoke Inner Circle status at any time using our interface. Similarly, someone in your Inner Circle may choose to remove themselves from the responsibilities that they may have previously accepted. In that event, you will be notified.
When someone in your inner circle accepts your invitation, it is a requirement for them to be a basic user of Webacy. This means that they too, enable their “pulse checker” and also have their own Inner Circle to report any deaths via our online portal.
Shoebox is a digital version of what it sounds like - a Shoebox for you to leave behind photos, videos, or files. These are any important memories and files that you’d like to make sure your Inner Circle can access after your death. These files are archived and will be securely stored. Eventually, Shoebox will evolve to become an automated archive for social media posts you choose to leave behind.
Your state, unfortunately, has not enacted the RUFADAA bill that 47 states have already enacted. You can contact your local representative to check on the status of it. We do know that Massachusetts is already working more clarity given the recent judgment passed by Ajemian v. Yahoo.