In a move that could considerably reshape the estate planning landscape, Trust & Will has successfully secured $25 million in its Series C funding round. Based in San Diego, this forward-thinking legal technology firm, which impressively ranked No. 41 on CNBC’s Disruptor 50 list, has now amassed a total of $75 million in funding. The company’s mission is clear: to demystify the gained complexities of estate planning, making vital wealth preservation services accessible to families who may otherwise feel confined by an opaque and outdated system. The legal industry, particularly in the domain of estate planning, has often been characterized by significant barriers to entry, such as exorbitant costs and convoluted processes. Trust & Will stands out by leveraging a mix of technology and human oversight, producing valid legal documents that meet stringent state regulations.
A Solid Investment in Innovation
Key to understanding Trust & Will’s ambitions is their commitment to harnessing artificial intelligence. Cody Barbo, co-founder and CEO, articulated this vision in a recent statement, asserting that AI will empower families and financial advisors alike, enabling them to plan with clarity and confidence. This investment in technology reflects a growing trend among startups that seek to solve traditional problems through innovative solutions. The current funding round was led by Moderne Ventures, with additional support from other notable firms like Northwestern Mutual Future Ventures and UBS Next. Trust & Will’s most recent valuation hints at an impressive leap, having increased significantly since its last round in 2020, though specific figures remain undisclosed beyond the claim of now being worth hundreds of millions.
Bridging the Planning Gap
Despite the noticeable gap between the perceived importance of estate planning and its actual execution, Trust & Will’s findings from a recent report illuminate a paradox: while a staggering 83% of Americans recognize the necessity of estate planning, a mere 31% have executed a will. The data underscores both a pressing need and a troubling reality: more than half of Americans lack any form of legacy plan. Trust & Will emerges as a beacon of hope, having facilitated the creation of estate plans for hundreds of thousands of families. Their platform is unique, being specifically tailored to individual needs instead of offering one-size-fits-all solutions found in generic online templates.
Strategic Partnerships: A Winning Approach
Another pillar of Trust & Will’s strategy is forming partnerships with established financial institutions. Collaborations with major players such as Bank of America and USAA demonstrate a smart alignment with organizations already equipped to guide consumers in navigating financial uncertainty. These partnerships aid in amplifying Trust & Will’s visibility and credibility in the market, reaching families who may have previously been unaware of accessible estate planning options. Additionally, the company’s marketing strategy recently evolved to include celebrity endorsements, with Super Bowl Champion Matthew Stafford and his wife, podcaster Kelly Stafford, serving as brand ambassadors. Their involvement aims to personalize the estate planning experience, making it more relatable and less intimidating for the general public.
Empowering Families: The Mission Forward
At the heart of Trust & Will’s mission is a strong belief in equity and accessibility in estate planning. Barbo’s assertion that “every family deserves access to estate planning” resonates deeply in a society where financial planning is often seen as privilege rather than a right. The narrative surrounding estate planning is shifting, increasingly acknowledging that secure, well-structured legacy planning is not just for the wealthy, but for all families who want to ensure their loved ones are protected and provided for. By combining cutting-edge technology with a genuine human approach, Trust & Will promises to alter the way families perceive and tackle estate planning, fostering a sense of empowerment rather than apprehension.
As Trust & Will embarks on this exciting journey, its focus on innovation, collaboration, and community engagement signals a hopeful new era for estate planning—one where clarity, confidence, and compassion are at the forefront.