But...my parents left all passwords to all accounts including their LJ in their papers for me to receive on their passing, with the EXPECTATION that I would do with the accounts as I chose. Including, as I have, leave them up but monitor them for respectful usage, in the case of their LiveJournal accounts.

Why shouldn't that be an option?

If the date is needed, surely existing ones could be grandfathered in with the date the change was made?