Do you know what will happen when you die? Although preparing end-of-life plans is the last thing you want to think about, Trust & Will can make the task bearable.
The service streamlines the creation of a will, trust, and minor guardian appointment. Not only should those legal documents be part of your estate plan, but they’re essential for taking care of your family after you’re gone.
Instead of leaving your final wishes to chance, the platform can put your preferences in writing. And they can do it for a great price.
If you’re ready to get your affairs in order, let’s dive into this Trust & Will review to see if it’s right for you.
Trust & Will Review: Who is Trust & Will?
Trust & Will is an estate planning service that provides legal forms and information. The company is modernizing estate planning through technology to make the process more accessible and affordable for the average family.
They were founded in 2017, and the office is in San Diego, California. Trust & Will is accredited by the Better Business Bureau. The company has good ratings, with an A rating from the BBB and five out of five stars from reviewers on Trustpilot.
The platform can create your end-of-life documents in less than 20 minutes. It might sound too good to be true, but their process covers a range of legal documents that are backed by experienced attorneys.
What is Estate Planning?
To understand estate planning, you must first know what an “estate” is. Believe it or not, nearly everyone has an estate.
Everything you own – your cars, house, investments, bank accounts, and personal property – are all part of your estate. And you know what they say, you can’t take that stuff with you when you die.
Estate planning is nothing more than making a plan for your estate. Basically, you put in writing what you want to happen to your belongings when you pass away.
It can involve several types of legal documents, such as:
- Living trust
- Last will and testament
- Pour over will
- Living will
- Power of attorney
- Guardian appointment
Estate planning is a personal process. The legal documents you need depend on your situation. For example, if you’re married and have kids, you’ll need a different estate plan than if you were a single parent.
Luckily, Trust & Will has a questionnaire to help you decide which documents are best for your situation.
You’ll get custom recommendations after answering a few simple questions.
If you feel like you shouldn't proceed because you're young and healthy, please know that dying without a will can be a disaster. Estate planning is for everyone: for the young and the old, the wealthy and the not-yet-wealthy!
Legal Documents from Trust & Will
With estate planning, not everyone needs the same documents. The best estate plan is customized to fit your situation. Although, anyone who has kids should nominate a guardian to care for them if something happens.
From there, you decide whether you want a trust-based or a will-based estate plan. One isn’t better than the other – it depends on your needs.
A will is less involved than a trust and requires some probate process after you pass away. With a will, you can:
- Name a guardian for your kids
- Specify where your assets and belongings go
- Plan your final arrangements
A trust is more complex to set up but can sometimes avoid probate altogether. A trust:
- Gives greater control over how and when your belongings are distributed
- Has several forms and types
- Requires you to fund it by transferring ownership of assets to the trust
If you already know which type of documents you need, you can jump straight to the wills, trusts, or guardian section of Trust & Will to get started. If you’re not sure – don’t worry. The site can ask you a few quick questions to help you decide which documents are best.
Trust & Will Review: How Trust & Will Works
The service Trust & Will offers is extremely important. More than half of Americans don’t have a will, according to a Gallup poll. Without a will, the state gets to decide how your property is handled after your death.
And state law might not distribute your belongings the way you intended.
Trust & Will offers legal forms and information to help you put a cost-effective estate plan in place. No matter which product you choose, you’ll get an estate planning package to put your affairs in order.
Trust-Based Estate Plans
With a trust-based estate plan, you’ll walk away with a:
- Revocable living trust
- Schedule of assets
- Pour over will
- HIPAA authorization
- Living will
- Power of attorney
Will-Based Estate Plans
If you have a simple estate, you could opt for a will-based estate plan. It includes:
- Last will and testament
- HIPAA authorization
- Living will
- Power of attorney
For families with minor children, a nomination of a guardian is a must-have. Trust & Will puts together a customized document to name a guardian to care for your minor children if something should happen to you.
To create the documents, you’ll enter your personal information and the platform takes care of the rest. The legal documents are specific to your state, and you don’t need to be an attorney or consult with one to create your plan.
Trust & Will streamlines the entire process. It shouldn’t take over 15 or 20 minutes to complete your estate plan.
One important thing to note is that your documents aren’t legal until you sign them. The requirements to validate your estate plan can vary by state, but it’s usually as simple as:
- Signing the document
- Having two witnesses sign
- Including a notary
You’ll get easy-to-follow instructions on how to sign your documents. The company can also mail you a hard copy version of your documents at no extra cost to you.
Best Features of Trust & Will
If you think estate planning is complicated and expensive, you’re in for a surprise. Trust & Will makes estate planning easy and affordable.
Affordable Estate Planning
Pricing an estate plan isn’t as easy as finding a great deal on new sneakers. The cost of hiring an estate planning attorney can vary. Some charge a flat fee to create your documents while others might bill by the hour.
When you hire an attorney, paying up to $1,000 or more is common even for a simple estate plan.
Using Trust & Will can keep more money in your pocket. The costs range from $159 to $699 to get the documents you need for you as an individual or if you have a spouse.
State-Specific Estate Planning
Most people don’t know that estate law is determined at the state level. That means the rules, procedures, and legal language you use is very important.
For example, states often have different procedures depending on the size of the estate. States can also calculate the value of real estate differently, which can impact the estate’s value.
But you don’t have to be a legal expert to create an estate plan. The team of lawyers behind Trust & Will makes sure you get the right documents based on where you live. Your plan also includes state-specific information on how to make your documents legally binding and whether witnesses and notarized signatures are required.
Updates to Your Documents
Life can change when we least expect it. If you get married or divorced, have another child, or experience other life changes, you should review your estate plan.
Trust & Will stores all of your documents online for easy access. Instead of calling an attorney, making an appointment, and paying high rates to make changes, you can log into your online account to update any section of your estate plan.
Your purchase includes unlimited updates for the first year. After that, you pay a low annual subscription fee to make as many changes as you’d like.
Digital and Hard Copies
Digital copies of your trust, will, or guardian appointment are kept in your online account. You can view and download a PDF copy of your documents at any time.
If you don’t have a printer, don’t worry. Trust & Will provides a hard copy at no extra cost to you. Request them to ship your files and they’ll send them to you in the mail.
Having digital access to your files is convenient, but keep in mind that you must sign a physical copy of each document for it to be legally binding.
Trust & Will’s 1% Pledge
Trust & Will believes people from all economic classes should have the ability to get their final affairs in order. For that reason, the company is part of the global Pledge 1% movement to encourage corporate philanthropy.
That means 1% of the company’s revenue is put toward equal access to affordable estate planning documents. If you buy a plan from Trust & Will, you’re supporting access to those who couldn’t otherwise afford an estate plan.
Trust & Will now offers support during the probate process. Wills are settled using the probate process, and that can be difficult. Trust & Will understands and wants to offer support.
Currently, you can choose three different options:
- Self-guided support ($600) – Access a tool to help keep you organized as you move through the probate process.
- Concierge support ($1750) – Get personalized support and guidance during probate.
- Attorney support ($5000) – Turn things over to a licensed attorney with this full-service probate plan.
You can also schedule a free, 30-minute consultation to see which probate offering best fits your situation.
One of the best things we discovered with our Trust & Will review is their money-back guarantee! Trust & Will wants to help you leave a legacy for your family through proper estate planning documents. They don’t ask for any money upfront. You create an account, enter your personal information, and preview your documents before they ask for payment.
The company stands behind its product and wants you to be 100% satisfied with your experience. That’s why they offer a money-back guarantee.
To get a refund, email firstname.lastname@example.org within 30 days of your purchase. Include your name, email address, date of purchase, receipt number, and the reason you want a refund.
Help When You Need It
If you have a question about the service or get stuck filling out your documents, reach out to the customer service team.
A chatbox is found in the bottom left corner of the website. A customer service representative is available Monday through Friday from 9 a.m. to 5 p.m. PST. Help is also available by email at email@example.com, through Facebook Messenger, and on Twitter.
There’s also an extensive learning center. If you’re curious about how estate planning works, how to disinherit someone in your will, or how to fund a trust, the learning center has answers to all of that and more.
Trust & Will Review: Where Trust & Will Falls Short
If you’re looking for a straightforward way to create an estate plan, Trust & Will is an excellent option. It’s fast and easy to create a will or trust through the online platform.
Plus, you can relax knowing the legal documents meet the requirements of the state law where you live.
However, there are a few downsides we have to disclose in our Trust & Will review before you purchase legal documents from Trust & Will.
While any parent should consider the nomination of the guardian plan, you must choose between the trust and will products. Since both packages have living wills, HIPAA authorizations, and a power of attorney, it makes little sense to purchase them both.
Choosing whether to go with a trust or a will is a complex legal decision. Trust & Will can make recommendations based on your situation, but the company can’t offer legal advice.
You may also incur additional costs. Your purchase includes unlimited access and changes for one year. Any modifications after that require you to pay a $19 annual fee. But even if you pay 40 years of annual fees, it’s cheaper than hiring an attorney.
The platform to create your documents is driven by technology. If you prefer human interaction and one-on-one legal advice, Trust & Will might not be your thing.
Trust & Will Review: Who Should Use Trust & Will
An estate plan is something most people put off, saying “someday, I’ll do that.” But tomorrow isn’t guaranteed. The time to create an estate plan is now.
If you’re wondering who should use Trust & Will to get their final affairs in order, the answer is simple: Almost everyone could benefit from a trust or will from this company.
And if you have a family, there’s no question about it. You must have a plan in place. After all, who will raise your minor children if the worst should happen?
The care of your children isn’t a decision you want to let the state decide.
The same goes for the disbursement of your belongings. Every state handles estates without a will or trust differently. How your property is divided can depend on if you’re married or single, if you have children, and whether your spouse is the legal parent or step-parent of your children.
Using Trust & Will to help make your estate plan creates a legal record of how you want your estate distributed when you die.
If you’re young or old, married or single, have kids, or are just thinking about starting a family, it could be the solution you’re looking for to put your final wishes in place.
Trust & Will Review: Who Shouldn’t Use Trust & Will
While everyone needs an estate plan, the products from Trust & Will aren’t perfect for every situation.
For complex family situations, you’re better off paying an attorney to draft your legal documents. It will cost a lot more upfront but could save your loved ones from legal setbacks after you pass away.
Trust & Will might not be the best option for high-net-worth individuals, either. Estates that include real estate, investments, or other property of significant value can require additional tax planning provisions that you won’t get from this service.
How Much Does Trust & Will Cost?
One thing that stands out with Trust & Will is their transparent pricing. You never have to wonder how much your legal documents will cost because the prices are easy to understand.
Here’s how it works:
- You have 2 different packages to choose from
- You pay a set price for each, depending on your needs
- There’s an additional discounted fee to add documents for your spouse
- You pay a small annual fee for unlimited updates after the first year
Trust & Will Product Overview
|Product||Individual Cost||Cost for Both Spouses||Where to Find More Information|
Each product includes unlimited updates for a year after your purchase. Log in to your account to access your documents if you change your mind about how you want your assets to be distributed or want to update the person you nominated as a guardian.
After the first year, paying an annual fee will allow you an additional year of unlimited updates to your legal documents. The annual fee ranges from $19 to $39.
Trust & Will is passionate about equal access to estate planning. The company encourages you to reach out if the price is an obstacle for you.
Getting Started with Trust & Will
Trust & Will guides you through each step of putting together your legal documents. However, before sitting down to create your estate plan, there are a few things to consider to make the process as smooth as possible.
Focus on the Future
First, ask the person you want to name as the guardian of your minor children if they’re willing to take on that role. Raising someone else’s kids is a big responsibility and you want to make sure they’re up to the task.
Then, consider who you might want to have your belongings such as jewelry, artwork, family heirlooms, and real estate. Next, determine what happens to your social media accounts. Make a list of usernames and passwords with instructions for each platform.
Finally, think about what kind of final arrangements you want.
- Do you want to be buried or cremated?
- Do you want to set up a scholarship fund or designate a charity instead of flowers or gifts for your family?
Set Up a Trust & Will Account
After you have a good idea of how you want your affairs handled, create an account with Trust & Will. You can use your email or sign in with your Google or Facebook account.
You will answer general questions about your family and assets so the program can guide you toward the right product. The platform will walk you through the entire process, and you’ll fill in your personal information as you go.
If you have questions, open the live chat to talk with a customer service representative. You can preview your completed documents before entering payment information. Then, you can print the forms yourself or have Trust & Will ship them to your house for free.
Remember: the documents aren’t legally binding until you sign them. Often, signing requires two witnesses and a notary, so follow the instructions to make sure your documents are fully legal.
Final Thoughts on Trust & Will Review
Just like life insurance, an emergency fund, and investment accounts, an estate plan is a key part of your overall financial plan. Trust & Will offers an easy-to-use solution to create legal documents for your will or trust.
The cost is significantly less than hiring an attorney. Create your estate plan with Trust & Will and you’ll have peace of mind knowing you’ve taken care of your final affairs. Hopefully, this Trust & Will review helped you see how this company can make estate planning simple and effective for you!
Do you have a will set up to protect your family? What other questions do you have about our Trust & Will review?
Please let us know in the comments below.