Trust & Will

Software For Estate Planning

Company Information

Website:

https://trustandwill.com/

Sector:

Collaboration & Project Management Software

Location:

San Diego, CA

Trust & Will has created what it calls “TurboTax for estate plans.”

Its software enables users to create trusts, wills, and guardianship plans for loved ones.

The company has already raised more than $2 million in funding from notable investors including TechStars, Halogen Ventures, and Tech Coast Angels.

Trust & Will is modernizing the $170 billion Trust and Estate Planning industry, targeting the 250 million eligible adults in the U.S. Of this group, only 40% have created an estate plan.

Traditional estate planning is expensive and time-consuming. Attorneys charge an average of $400 to set up an individual will, and creating a trust can cost more than $2,000. Meanwhile, current online solutions aren’t focused on long-term estate planning.

Trust & Will’s software is an end-to-end solution for creating, storing, and updating estate plans.

The company offers three unique products to accommodate people at any life stage. These include:

Trusts: Designed for the protection and transfer of a person’s most important assets.

Wills: Plans for a person’s assets in the event of their death.

Guardians: Plans for who will look after a couple’s children in the event of death.

Users answer a series of questions online, and then receive their printed documents in the mail. All they have to do is review and sign them.

Documents are securely stored with bank-level encryption, and users can access and update their documents from any device. In addition, users can chat directly with Trust & Will’s support team, all of whom are knowledgable about estate planning and how the company’s products work.

Trust & Will’s process was designed and vetted by estate planning attorneys with decades of experience, and each product can be custom tailored to users based on their situation.

Costs for its products are as follows:

Trusts cost $399 for an individual or $499 for a married couple, plus an annual subscription cost to allow for updates.

Wills cost $69 for an individual or $129 for a married couple, plus annual subscription costs.

And Guardianships cost $39 for an individual or $49 for a married couple, plus annual subscription costs.

In addition, Trust & Will helps promote products and services from its partners in industries including insurance, wealth management, real estate, and banking. This provides the company with an additional revenue source.

For example, the company has partnered with insurance companies including MassMutual, Haven Life, and Policygenius.

Trust & Will launched in April 2018, and its user base has grown each month since. The company has more than 11,000 users and is available in 49 states and Washington D.C.

Moving forward, the company expects to grow thanks to a number of trends related to estate planning. For example, laws are changing state by state to allow estate plans to be completed digitally, and millennial wealth, driven by inheritances, is projected to soon surpass $30 trillion.

Team Background

Cody Barbo - Co-Founder & CEO

Cody has significant experience building and launching software platforms.

For example, he founded Industry, a networking and hiring platform targeting the service and hospitality industry.

In addition, he co-founded Niche, a mobile application for photo sharing.

Cody previously served on the Board of Directors of the San Diego State University Research Foundation, and was CEO of the school’s Associated Students, a student government organization.

He earned a Bachelor’s degree in Communication from San Diego State University.

Daniel Goldstein - Co-Founder & COO

For four years, Daniel was an advisor for Pursuit Sales Solutions, a company helping businesses in the healthcare and pharmaceutical industries increase revenue.

He was previously Director of Strategy and Business Development for Seamgen, a software company focused on developing mobile and web-based applications. In addition, he served as Director of Business Development for Punchkick Interactive, a custom software company based in Chicago.

He earned a degree in Business and Finance from Baylor University.

Brian Lamb - Co-Founder & Head of Product

Prior to starting Trust & Will, Brian worked with Daniel at Seamgen.

While there, he served as Vice President of User Experience, leading a team of designers to build mobile and web-based applications.

He was a senior interactive designer for Ninthlink, a company creating digital campaigns for web and mobile-focused point-of-sale systems.

Brian spent six years as a senior designer for LJG Partners, an interactive design studio.

He earned a Bachelor’s degree in Art and Graphic Design from San Diego State University.

Co-Investors

Halogen Ventures

Early-stage venture capital fund founded by Jesse Draper and focused on female-founded companies. Portfolio includes HopSkipDrive (service that helps parents transport their kids to activities) and Laurel & Wolf (interior design company).

Right Side Capital

Quantitative-based early-stage fund. Investments include Jawfish Games, Zagster, and Hostspot.

Tech Coast Angels

Largest angel investor group in the U.S.

TechStars

Prominent accelerator for tech companies. Investments include Uber, ClassPass and Twilio.

Western Technology Investment

Venture capital firm focused on investing in technology-related companies. Portfolio includes Facebook, Stitch Fix, and General Assembly.

Wolfpack Ventures

Venture capital firm investing in technology, real estate, and consumer services startups. Portfolio includes Abe’s Market (online marketplace for natural food products acquired by DirectEats) and Fireblade (website security company acquired by StackPath)