Latest news with #Trust&Will
Miami Herald
07-07-2025
- Business
- Miami Herald
Haven't made a will yet? startup has new AI tool to help
In 2017, Cody Barbo told a room of investors that he was getting married in a month. His friend asked him this question: "Hey man, you're getting married. Do you have a will?" Barbo froze, threw out a mild swear word and answered, "I should probably have one." Barbo is the CEO of Trust & Will, a San Diego company that simplifies the creation of estate planning documents by drafting documents with its lawyer-vetted software. Eight years later, Barbo is married and his family has grown. So has his company. Trust & Will, based in San Diego's Bankers Hill, has helped more than 1 million families make estate plans, Barbo said in an interview from his Dallas home office. "Normally you pay thousands of dollars up front to do this with an attorney, or hundreds to thousands of dollars for those updates, for that ongoing guidance," he said. "This is the democratization of estate planning." It has raised more than $80 million from venture capital and corporate investors including Moderne Ventures, American Express, AARP and Northwestern Mutual. Last year, the company became "cash-flow positive," startup speak for hitting profitability, and then secured a Series C round of capital this year. It employs around 110 people, up from around 80 in 2023. And last week, it announced the launch of a new AI-powered platform called EstateOS, which Barbo says will make estate planning even easier, more efficient, more personalized and more broadly accessible. It also turns Trust & Will - one of several companies that digitally create estate plans - into what Barbo says is "the first company to launch an AI-integrated estate planning platform at scale, specifically designed for both consumers and financial professionals. While others may be experimenting with AI, EstateOS is the first comprehensive system combining Trust & Will's proprietary estate planning software with embedded OpenAI-powered tools to streamline creation, review, and updates of estate plans." New tools, an AI boost Using proprietary software and OpenAI, EstateOS delivers four features that are "intelligent upgrades of previously manual or slower processes," Barbo said, who co-founded the company with Daniel Goldstein and Brian Lamb. Some of the new features will appeal to U.S. consumers - only 31% of which have a will, according to a company survey of 10,000 people - and others will appeal to the company's industry targets: financial planners, life insurance agents, nonprofits and attorneys, he added. One feature, called PlanScore, does what its name suggests: It "scores" estate plans with a rating system that helps customers find blind spots and figure out where their estate plan needs buttressing. Another is an AI assistant that lets users ask questions and have the answer served instantly. Instead of digging around to find out who was named as a guardian, Barbo said, you can ask who the guardian is and get reminded that it is your mother-in-law. A third feature is document extraction, which will summarize and mine user-submitted documents for useful or actionable data and workflows. This could be especially useful for people who have drawn estate plans that are "just sitting in a box in the closet." The last feature streamlines communication - and client prospecting. The "Connected Networks" tool brings together parties connected to an account, including executors, beneficiaries, attorneys and financial advisers, into a shared platform. That can make deed transfers and notarized transactions run more smoothly, and also make it easier for those professionals to build their contact lists. Down the line, Barbo said a fifth service will keep track of life's seismic events, the kind where an estate plan update could make sense, such as marriage, divorce, a new baby, a home purchase - and alert users when they should amend something. Pricing to create a will or trust remains the same. An individual's will-based plan starts at $199 and a trust-based plan starts at $499. Couples are charged an extra $100, and updates cost extra. Optional memberships at different pricing tiers give access to the EstateOS and other features. Attorney support is included in some plans or can be purchased as an add-on. The estate planning startup's plans For its first eight years, Trust & Will was one of several in a crowded digital legal document and estate planning marketplace, all of which turned estate planning from a costly investment to something that could be scratched off one's to-do list with a few clicks and a spare hour. LegalZoom and Rocket Lawyer are the bigger names, but there's also and the company that would win wittiest estate planning domain name, if that were a thing - The National Council on Aging recommends these online tools, saying "If an attorney isn't in your budget, an online will-making service can be a good alternative." Among the five companies it recommends, Trust & Will is crowned "most user-friendly." In estate planning, the use of AI is a topic of interest for attorneys, according to the American College of Trust and Estate Counsel. A free video series explores practical and ethical issues around generative AI in estate planning. "Resistance to the coming of AI is futile," one speaker, a law professor, said last year. Lawyers, he added, "should keep abreast of the changes in the law and its practice, including the benefits and risks associated with relevant technology. So accordingly, you have an obligation to yourself, your clients, and the profession to become acquainted with and proficient with the use of AI in your estate planning practice." Barbo's 2017 pitch to investors succeeded: His company won $5,000 in seed money. Today he is eyeing the biggest prize for a startup - to take the company public. Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Yahoo
24-06-2025
- Business
- Yahoo
Trust & Will Unveils EstateOS™, the First Intelligent Platform for Modern Legacy Planning -- and Announces Inaugural Generations Conference
SAN DIEGO, June 24, 2025 /PRNewswire/ -- Trust & Will, the leading digital estate planning platform, today announced the launch of EstateOS™, the nation's first intelligent platform engineered to modernize how legacies are planned, managed, and preserved. Powered by the industry's most comprehensive first-party estate planning data, EstateOS transforms static documents into dynamic, connected, and continuously guided legacy plans that evolve with life. Designed for families, financial advisors, attorneys, nonprofits, and institutions, the platform delivers personalized insights and seamless coordination to ensure every plan stays aligned with life's changes. "EstateOS is more than a product, it's an intelligent system that is redefining how the estate planning industry is served," said Cody Barbo, Co-Founder & CEO of Trust & Will. "It currently supports over one million users, 20,000+ financial advisors, and 200+ institutional partners, tracking $200B+ in self-reported estate assets and 20,000+ planned charitable bequests. It's built to help families keep their plans current through every life stage and deliver value to all stakeholders involved in the legacy journey." For too long, estate planning has relied on static paperwork, infrequent updates, and disconnected professionals. The traditional process ends with a signature; often leaving families vulnerable to outdated plans, fragmented advice, and preventable risk. EstateOS is the next chapter: an intelligent, AI-powered platform that transforms estate planning into a dynamic, connected system for modern legacy management. Flagship features of EstateOS include: Plan Score™ – A dynamic rating system that surfaces personalized opportunities to help individuals understand, strengthen, and optimize their estate plans. Connected Networks – Connects key stakeholders, including beneficiaries, executors, advisors, and attorneys, while facilitating essential services like deed transfers and notaries. Intelligent Assistants – Embedded AI tools offering personalized, actionable guidance for families and professionals alike. Document Extraction & Summarization – Transforms uploaded documents into structured insights to accelerate plan creation and professional workflows. And coming later this year: a steady release of groundbreaking features including the Life Event Engine, the industry's first alert system that proactively notifies users of critical updates needed after life changes like marriage, relocation, birth, or death, bulk document ingestion for professionals, tax strategy simulations, tax and distribution insights, multi-beneficiary scenarios, and open API, MCP, and SDKs for enterprise integration. Introducing Generations: The Future of Planning, Together To celebrate and accelerate this next chapter in estate planning, Trust & Will is also announcing the launch of its inaugural event: Generations. Debuting in October 2025, Generations will convene financial advisors, attorneys, nonprofit leaders, innovators, and policymakers for a landmark summit on the future of wealth, family, and legacy planning. Held on the heels of EstateOS's debut, the conference will showcase the platform's continuous feature rollouts and provide exclusive access to the tools, insights, and partnerships driving the industry's transformation. Generations is more than a gathering; it's a rallying point for innovators, advisors, attorneys, nonprofits, and industry leaders redefining how families plan, protect, and pass on what matters most. A Platform Designed for Every Stakeholder EstateOS is the infrastructure driving Trust & Will's transformation into a lifelong partner in multi-generational wealth planning. For FamiliesEstateOS turns static paperwork into a dynamic, digital legacy plan. Families get one secure place to manage their wishes, track updates in real time, and stay organized through life's milestones. It helps prevent disputes and ensures peace, clarity, and continuity across generations. For Financial Advisors & Wealth ManagersEstateOS equips financial advisors and wealth managers with real-time visibility into client estate plans and AI-powered tools to streamline planning workflows at scale. It helps deepen relationships, strengthen retention, and turn estate planning into a strategic growth driver. With upcoming features like life event intelligence and expanded automation, advisors can stay proactive, connected, and indispensable across generations. For AttorneysEstateOS modernizes estate law practices with intelligent tools like AI-generated summaries, bulk document ingestion, and real-time collaboration with clients and partners. Attorneys can streamline operations, enhance referrals, and stay aligned with clients throughout life's changes. With life event intelligence and additional professional features on the horizon, EstateOS helps legal teams focus more on advising and legacy preservation, and less on administrative lift. For NonprofitsEstateOS brings clarity and insight to planned giving. Nonprofits gain visibility into donor intent, legacy commitments, and stewardship opportunities; surfacing bequests that might otherwise remain hidden. As AI tooling and life event alerts (including posthumous donor triggers) come online, organizations will be empowered to proactively engage supporters, secure legacy gifts, and maximize impact. For Partners & InstitutionsEstateOS enables banks, financial institutions, and wealth firms to integrate estate planning into client experiences. With open APIs, branded tools, and enterprise infrastructure, partners can scale services, deepen engagement, and build generational loyalty. As trillions in wealth change hands, EstateOS puts Trust & Will and its partners at the center of modern legacy planning. AvailabilityEstateOS is live for families, advisors, attorneys, nonprofits, and enterprise partners. To learn more, visit To stay informed about the upcoming Generations conference, visit About Trust & WillFounded in 2017, Trust & Will is the leading digital estate planning platform in the U.S., trusted by over one million individuals and families. Our simple, secure, and attorney-approved online solutions help Americans easily create wills, trusts, healthcare directives, and other essential estate planning documents tailored to state-specific laws. With a focus on easy access and a guided experience, we're transforming how families plan for the future and protect their legacies. Our platform supports 20,000+ registered financial advisors, along with 200+ enterprise partners and financial institutions, including AARP, Fifth Third Bank, LPL Financial, UBS, and USAA. We empower professionals to integrate estate planning into their client services, enabling multi-generational wealth planning. With more than one million users and $200+ billion in self-reported estate assets, Trust & Will is redefining estate planning as a relationship-deepening driver of financial wellness. Recognized for innovation and leadership, Trust & Will has earned spots on the CNBC Disruptor 50, Inc. 5000, and Deloitte Technology Fast 500™ lists. Learn more at View original content to download multimedia: SOURCE Trust & Will
CNBC
11-06-2025
- Business
- CNBC
Only one in four Americans has a will. But writing one is easier than you think
Dying without a will can leave a knotty financial mess for your loved ones to unravel. But only one in four Americans has a valid will, according to a new survey from Western & Southern Life Insurance. Barely half of respondents (53%) reported being confident that they understood their spouses' wishes. Even fewer (48%) could say the same about their parents. Nearly a third of those surveyed (30%) admitted they've never discussed end-of-life financial plans with their family members. Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent willmaker Trust & Will offers an easy-to-follow question-and-answer format and access to attorneys who can provide a line-by-line review or advise on estate and tax planning topics. You can print your documents or have them shipped to you.$199 for an individual will, $299 for a joint will; $499 for an individual trust, $599 for a joint trustQuicken WillMaker & Trust allows users to create wills, health care directives and living trusts, both online and through downloadable software. Its all-access plan includes a digital storage vault through Everplans.$109 to $219, ($39 per year to make changes after the first year) 'People don't want to talk about a will for emotional reasons," Mary Clements Evans, a certified financial planner and president of Evans Wealth Strategies, told CNBC Select. "They don't want to think about their death or their spouse's death." Over half (54%) of respondents admitted discomfort kept them from broaching the topic. But the silence around estate planning can have devastating consequences: Most Americans struggle financially when a family member dies and they're left grappling with both funeral costs and the loss of income. While many count on life insurance to cover expenses, a quarter of respondents said they faced difficulty accessing death benefits or other critical funds. Close to 40% turn to credit cards and personal loans to close the gap, according to the report. Without a will, your estate could be tied up in a lengthy probate process, Evans said, "and the state gets to decide who gets your assets." State intestacy laws have specific rules for spouses, children and siblings that might not align with your interests. The advent of online will-makers has made estate planning much easier and more affordable. Users follow simple prompts and can have a legally binding document recognized in all 50 states in one afternoon. Since launching in 2017, Trust & Will has helped over a million Americans codify their end-of-life plans, with basic wills starting at $199 and trusts starting at $499. "Talking about end-of-life planning can feel heavy, but it doesn't have to be," Trust & Will CEO Cody Barbo told CNBC Select in an email. "Creating a will online removes much of the fear, cost and complexity that have historically held people back." You're not legally required to have a will. Without one, however, you won't have control over who inherits your assets or becomes guardian to your children. In addition, a will allows you to appoint an executor and can greatly simplify the probate process. An online will is an affordable solution for many people, especially those who are hesitant about the time commitment and expense involved in traditional estate planning or are uncomfortable discussing end-of-life topics with strangers. However, people with large estates, complex family dynamics or minor children may need personalized care from a qualified estate planning attorney. And even if you choose an online option, you should still consult family members and experts about your wishes. As long as it meets all of your state's legal requirements, an online will is as binding as one prepared by an attorney. In many cases, you'll need to print the will and sign it in front of two witnesses who are not beneficiaries. In some states, the relevant parties can sign electronically. In others, it needs to be in ink and notarized. You should review and update your will every three to five years, according to AARP. You may also want to revisit it in the wake of life changes, like the birth of a child, a marriage or divorce, or a move to a new state. We work with experts who have specialized knowledge and authority based on relevant training and/or experience. For this story, we interviewed certified financial planner Mary Clements Evans, the president of Evans Wealth Strategies, a wealth-management firm in Emmaus, Pennsylvania. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every personal finance article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Malaysian Reserve
09-06-2025
- Business
- Malaysian Reserve
Newlyweds Say 'I Do' to Love, But 'I Don't' to Estate Planning: 42% of Couples Haven't Created One
New Survey from Trust & Will Finds Marriage Sparks Conversations About Legacy—But Many Delay Estate Planning for a Decade or More SAN DIEGO, June 9, 2025 /PRNewswire/ — Love is in the air this wedding season, but financial protection isn't. A new report from Trust & Will exposes a critical disconnect between love, life milestones, and long-term planning. Despite saying 'till death do us part,' 42% of married Americans have no estate plan whatsoever – leaving their spouses and families financially vulnerable. With over two million weddings expected for 2025 – with 225,000 expected in June alone and well over 600,000 in summer1 – the timing couldn't be more critical. Yet, the survey reveals that even marriage, one of life's most significant milestones, fails to prompt immediate action on estate planning. 'When I got married, my wife and I realized we had no will, no healthcare directive, nothing. It was a wake-up call,' said Cody Barbo, Co-founder and CEO of Trust & Will. 'That realization inspired the very foundation of this company. Marriage is about building a life together, and an estate plan is part of securing that life.' The national survey of 750 Americans (evenly split among single, engaged, and married respondents) uncovered deep gaps in awareness, confidence, and estate planning behavior. The Procrastination Problem: While married individuals are nearly 4x more likely than engaged couples to have a will (44% vs. 12%), nearly half still have no estate plan at all. Of those who do plan, 30% waited 9 years or more after marriage to act; 38% of engaged respondents say marriage motivated them to consider estate planning. Only 19% of married couples create an estate plan within their first four years together. Overcoming the Engagement Disconnect: 38% of engaged couples say marriage motivates them to consider estate planning, but only 12% actually have a will. 50% admit they lack basic estate planning knowledge. Only 15% have a healthcare directive, and 9% don't know what one is. 37% haven't even considered naming an executor or trustee for their estate. The Gender and Generational Divide Millennials and Gen Z show strong intent (40%+ plan to create estate plans within 5 years) but they face barriers like cost, time, and lack of understanding. Men are 3x more likely to have a trust than women. Women are more likely to feel overwhelmed by estate planning and 38% more likely to feel financially insecure. Despite 67% of respondents citing 'being overwhelmed' as their primary barrier, estate planning can be completed in hours. Without planning, surviving spouses can face: A lengthy and expensive probate process. Inability to make critical medical decisions. Freezing of financial accounts. Disputes among family members over assets. Potential tax issues. 'A wedding is more than a celebration, it's a pledge to protect one another,' said Barbo. 'Creating an estate plan is one of the most meaningful expressions of love. It offers your partner peace of mind, security, and the clarity that comes from knowing your wishes are understood and honored.' To read the full report, please visit: About Trust & WillFounded in 2017, Trust & Will is the leading digital estate planning platform in the U.S., trusted by over one million individuals and families. Our simple, secure, and attorney-approved online solutions help Americans easily create wills, trusts, healthcare directives, and other essential estate planning documents tailored to state-specific laws. With a focus on easy access and a guided experience, we're transforming how families plan for the future and protect their legacies. Our platform supports 20,000+ financial advisors, along with 150+ enterprise partners and financial institutions — including AARP, Fifth Third Bank, LPL Financial, UBS, and USAA. We empower professionals to integrate estate planning into their client services, enabling multi-generational wealth planning. With more than one million users and $100+ billion in self-reported estate assets, Trust & Will is redefining estate planning as a relationship-deepening driver of financial wellness. Recognized for innovation and leadership, Trust & Will has earned spots on the CNBC Disruptor 50, Inc. 5000, and Deloitte Technology Fast 500™ lists. Learn more at Media Contact: Mark LoCastro, Trust & Willpress@ 1 'Here Comes … A Lot of Couples Getting Married,' National Jeweler, June 29, 2022 [source URL]
Yahoo
20-05-2025
- Business
- Yahoo
Fifth Third gives customers free access to wills
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Fifth Third is offering its customers the ability to create wills at no charge, beginning Monday, through an expansion of the bank's partnership with digital estate planning platform Trust & Will. The Cincinnati-based regional lender, which says it's the first bank to offer the service for free, has partnered with Trust & Will for about six years. The move reflects the bank's aims to both bolster the benefits it offers customers and do more with its fintech partners to differentiate among competitors. 'We see a need in the space, and it's sort of a niche space, because it's not like an everyday banking thing,' said Erin Crawford, head of consumer digital – payments and money management at Fifth Third. In her role, Crawford is particularly focused on customers' financial wellness; she pointed to other bank products and services enabling Fifth Third's customers to get paid early or save for their goals. In considering 'the whole picture of the customer,' the $212 billion-asset bank is 'constantly thinking about, what's that extra benefit that's going to boost the foundation of our product?' she said. Crawford declined to comment on what kind of cost the bank is bearing to offer the service to customers at no charge. But amid intense competition for customers and deposits, the service is another bid to draw in and fortify ties with clients, she said. 'The benefit for us is building and deepening relationships with customers,' she said. 'We're really focused on trying to deepen and protect, and I think this is another lever that helps us do that.' In the first quarter, Fifth Third reported core deposits were stable, supported by 2% total household growth, compared to the first quarter of 2024, and 5% growth in the Southeast, where it's making a concerted push to expand. The bank is an investor in Trust & Will, and the partnership between the two has allowed Fifth Third customers to access trust and will services at a discount since 2020. Since data have indicated there can be a cost barrier to creating a will, making the service free seemed like a natural move to help more people draft wills, regardless of their asset class or demographic, Crawford said. 'Over the course of our partnership with Trust & Will, we've been able to get a better understanding of why some customers don't take advantage of the discount. We concluded that cost may be a barrier to entry so began developing the free offer,' she said. The bank is expecting thousands of customers will initially take advantage of the new offer. 'The more customers engage with this service, the more feedback we gain which can drive new opportunities for our partnership with Trust & Will.' Crawford noted other partnerships the bank has, such as with TurboTax to help customers during tax season. 'We're constantly thinking about, if there's partnerships with different companies, to be able to reduce costs for our customers,' she said. Beginning Monday, Fifth Third customers can draft an individual or couple's will at no charge, or can apply a $299 credit toward a single or joint trust, with the will included in that trust plan, a bank spokesperson said. Additionally, the bank seeks to push the limits of its fintech partnerships, to find out what else the lender can offer customers, she said. 'There's a lot of fintech partnerships where we're trying to push on our partners and say, what can you do with us, to make us a differentiator?' she said. Fifth Third is working on more in the financial wellness space, Crawford noted, including offering better visualization of customers' spending so they can manage it more easily, and 'experiences' to help customers in delinquency stay on top and pay off their debt. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
