In case it’s slipped from your mind, here’s a reminder: you are going to die. Someday. Probably not today, or this year. But at some point, inevitably, the reaper will come knocking.
Is your house in order?
Death can be tragic. Not to minimize the significance of permanent loss, but it can also be incredibly inconvenient for the people left in the wake of the deceased. To take away the ambiguity, you should probably have an estate plan.
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Headquartered in San Diego, Trust & Will is attempting to build an online legal document generation service which defines the category of estate planning. To scale up its business and build out its service offerings, the company announced that it’s raised $6 million in Series A funding. Link Ventures led the deal, which saw participation from prior investors Revolution’s Rise Of The Rest Seed Fund, Western Technology Investment, Techstars Ventures, Luma Launch, Halogen Ventures, and several angel investors who followed on their prior investments in the company.
The deal brings Trust & Will’s total funding to $8 million.
According to cofounder and CEO Cody Barbo, Trust & Will achieved an internal revenue milestone which validated the company’s business model and prompted the fundraise. He did not disclose what, exactly, that milestone was, but the company did disclose some of its other metrics.
Trust & Will has signed up over 60,000 customers since it launched its service back in April 2018. Collectively, its customers report over $15.1 billion in reported assets, $2.7 billion in reported life insurance policies, and that they’ve committed $137 million to charities using its services.
The company offers a range of options to people planning their estates. Parents of minor children can nominate a guardian starting at $39. People with some assets can create a will starting at $69, which lets them specify who will take care of minor children and how their assets should be divided. People with more assets who want to avoid probate court can set up a trust-based estate plan starting at $399. The company’s services come with an annual maintenance fee.
Trust & Will says it plans to expand its service offerings in 2020 so it can better serve clientele with more specialized estate-planning needs.
The company currently employs 11 people, 8 of whom are parents. Trust & Will is currently hiring across its product, marketing, and sales teams.
Illustration: Li-Anne Dias