In a significant move that underscores the burgeoning intersection of technology and personal finance, Trust & Will, a pioneering legal tech firm based in San Diego, has successfully raised $25 million in its Series C funding round. With a cumulative total of $75 million raised since its inception, the company is poised to disrupt the conventional estate planning market, where historically, families were often burdened with complex processes and exorbitant costs. This infusion of capital is not just a financial triumph; it symbolizes a crucial step toward making estate planning accessible and user-friendly for all.
Why Trust & Will Stands Out
The impetus behind Trust & Will’s foundation was a simple yet profound realization: while bank accounts, insurance policies, and numerous financial services have transitioned online, creating a will remained a cumbersome task riddled with costs and complexities. Co-founders Cody Barbo and his associate recognized that a significant gap existed in the online estate planning landscape. They sought to bridge that gap by offering a platform that combines technological efficiency with personal touch, enabling families to establish their legacies without the traditional high stakes of legal fees or the confusion often associated with outdated paperwork.
Technically, Trust & Will stands apart from competitors like LegalZoom and Rocket Lawyer. While those platforms offer a broad array of legal services, Trust & Will focuses specifically on estate planning, directly catering to families’ needs in this particular domain. Their documented approach emphasizes both technological reliability and necessary human compassion—a combination designed to ease the burden of what is often a stressful topic for many families.
Embracing the Power of AI
With an unequivocal commitment to integrating artificial intelligence into their platform, Trust & Will aims to facilitate clearer and more confident planning for families and advisors alike. “AI enables families and advisors to plan with greater clarity and confidence,” said co-founder Barbo in the wake of the funding announcement, echoing a growing consensus in the industry: technology can play a transformative role in personal planning. By leveraging AI, Trust & Will aims to customize the user experience without sacrificing the legal robustness of the documents generated. This shift not only modernizes traditional estate planning methods but also democratizes access to these essential services.
The backing from notable investors, including Moderne Ventures, Northwestern Mutual Future Ventures, UBS Next, and Erie Insurance, indicates a strong vote of confidence in Trust & Will’s vision. Notably, the valuation of the company has skyrocketed by over five times since its last funding round in 2020, positioning it firmly within the realm of established tech enterprises.
Addressing the Estate Planning Crisis
Despite the vast majority of Americans recognizing the importance of having a plan in place for their estates, there remains a stark contradiction: as of recent surveys, only 31% of adults have a will, while 55% have no estate planning strategy whatsoever. Trust & Will’s mission revolves around addressing this alarming disconnect through innovative solutions that foster family discussions about legacy planning.
The platform’s success is evidenced by the hundreds of thousands of families it has already assisted in creating wills and setting up estate plans. Such achievements are not mere statistics; they represent real families empowered to plan for the future—a stark contrast to the past where legal documentation was often a barrier rather than a bridge to peace of mind.
Innovative Marketing Strategies and Industry Partnerships
To further broaden its reach, Trust & Will has recently enlisted high-profile brand ambassadors—Super Bowl Champion Matthew Stafford and podcaster Kelly Stafford—who can resonate with everyday families while sharing their own estate planning journeys. This strategic marketing approach, coupled with partnerships with financial institutions like Bank of America, USAA, and Navy Federal, positions Trust & Will to penetrate deeper into the market, spreading its message far and wide.
Additionally, by associating with professional sports teams such as the Los Angeles Kings and San Diego Wave, Trust & Will effectively connects its mission with communities and audiences that may not have considered estate planning essential. This level of community engagement is crucial as it normalizes the conversation around planning for the future.
The Fundamental Truth: Estate Planning is for Everyone
As Trust & Will continues to innovate and expand, Barbo’s assertion that “every family deserves access to estate planning” resonates deeply in a world where uncertainty is the only guarantee. In a landscape where financial stability and personal peace are paramount, initiatives that seek to make estate planning simple, accessible, and customizable are not just welcome; they are necessary. By tackling the complexities of legal documentation with technology’s efficiencies and a compassionate approach, Trust & Will is not only reshaping how families plan but is fundamentally enhancing the quality and peace of life for countless individuals navigating one of life’s most delicate subjects.