In case you have forgotten, here is a gentle reminder: you are going to die someday. Maybe not today, this week, or even in two to ten years’ time. However, at some point, inevitably, the reappear will come knocking.
Is your house in order? Have you drafted the necessary plans? Do you have your estate plan already?
Death can be horrible. Not to reduce the significance of permanent lose, but it can also be very inconvenient for individuals left in the wake of the deceased. To take away the uncertainty, you should probably create an estate plan.
What is an estate plan?
Estate planning is the act of preparing for the transfer of an individual’s asset and wealth to designated beneficiaries after his or her death. Assets, pensions, real estate, life insurance, cars, personal belongings, including debts are among one’s estate. An estate plan must be written, signed, and notarized by the estate owner.
After your death, your will, a significant component of your estate plan, will dictate how your assets is to be managed and shared. If you die without a will, it is said that you died intestate. In that case, your state will step in.
Having understood what estate planning is, let us shift our focus to the main purpose of this article.
Trust and wills Raises $6M Series A
With headquarter in San Diego, Trust and Will is trying to create an online legal document generation service which defines the category of estate planning. To boost its business and build out its service offerings, the company announced that it has raised $6 million in Series A funding. Link Ventures was at the forefront of the deal, which saw commitment from former investors Revolution’s Rose of The Rest Seed Fund, Western Technology Investment, Techstars Ventures, Luma Launch, Halogen Ventures, including multiple angel investors who were a part of former investments in the company.
The deal brings Trust and Will’s entire funding to a whopping $8 million. According to cofounder and CEO Cody Barbo, Trust and Will achieved an internal revenue milestone which validated the company’s business model and resulted in the fundraising. He didn’t reveal what, exactly, that milestone was. However, the company did reveal some of its other metrics.
Trust and wills has signed more than 60,000 customer since it began its operation in April 2018. Collectively, its customers report more than $15.1 billion in reported assets, $2.7 billion in reported life insurance policies, and that they have committed $137 million to charities with the aid of its services.
Trust and wills offers a plethora of options to individuals planning their estate. Parents of minor children can choose a guardian starting at $39. Individuals with some assets can draft a will starting at $69, which lets them designate who will cater to their minor children and how they want their assets to be shared. People with more assets who want to bypass the complex probate court can set up a trust-based estate plan starting at $399. The company’s services also comes with a yearly maintenance fee.
Trust and Wills says it has plans to enlarge its service offerings in the future so it can better serve clientele with more specialized estate-planning needs. The company has about 11 employers, 8 of whom are parents. Trust and Wills is hiring across its product, marketing, including sales team.
Need and Estate Planning Lawyer?
Estate planning has been made easy with the introduction of several online estate planning platforms. However, not all types of estate can be planned with these online platforms. For instance, if your estate is a complex one, you will need to contact an experienced estate planning attorney.
We boast of the best estate planning attorneys and can help plan your estate according to your wish. We can help create the necessary estate planning documents and update your estate plan when needed. Contact our office to speak with our attorney.