Patent ID: 6970836
Filing Date: 2005-11-29
Classification: G06Q,G07F

Abstract:
1. A method for securely storing data for an owner, comprising: storing the data for the owner consisting at least in part of information relating to the owner's estate by entering the data on a virtual wallet application for the owner, the virtual wallet application having a local aspect residing on a terminal of the owner and a remote aspect residing on a server of a trusted third party coupled to the terminal via a network, the virtual wallet application also having a virtual executor function, and the virtual wallet application also being configured at least in part for storing data representing at least one of a payment mechanism and electronic funds; automatically assigning a primary aspect of a secret access device for the virtual wallet application to the owner by the virtual wallet application for accessing the stored data; automatically escrowing a secondary aspect of the secret access device for the virtual wallet application by the virtual executor function conditioned on the occurrence of an event that renders the owner incapable of acting on the owner's own behalf; periodically updating the remote aspect of the virtual wallet application with the data stored on the local aspect by a virtual archivist function of the virtual wallet application via the network; periodically reformatting the data stored on the remote aspect of the virtual wallet application by the virtual archivist function to conform to succeeding methods of accessing the stored data; receiving verification of the occurrence of the event by the trusted third party from a personal representative of the owner upon the occurrence of the event; and accessing the stored data by the trusted third party on behalf of the owner's personal representative with the escrowed secret access device.