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Trust & Will Review 2021

This post may contain affiliate links. Please read my disclosure for more info.

For most people, preparing final wish documents is not a very pleasant task. However, Trust & Will is an online service that will make it a bit easier and a lot more budget-friendly.

With this website, you are able to prepare documents such as a simple guardianship, will, or trust for a low fee.

These documents are designed based on your state laws. Simply provide your information and the documents will be generated and reviewed.

This Trust & Will review covers how it works, pros, cons, how to do your own Will online, and how much it costs.

About Trust & Will

Trust & Will is based in San Diego, California. It was launched in 2017 as an online service offering legal information and forms. All of these documents have been created and evaluated by attorneys with estate planning experience.

Since most people have not made legal provisions for their assets and dependents upon their deaths, this is a valuable service.

Simply visit the site, enter your information and you will be provided legal documents that are specific to the state you live in.

There is no legal experience or representation required. This is ideal for those who don’t have the time to visit or the money to pay an attorney.

Since circumstances are likely to change through the years, you have the ability to make changes to your documents as needed.

How Does Trust & Will Work?

There are three main products offered by Trust & Will:

  • Guardian
  • Will
  • Trust

Each has a specific purpose, and you can use the ones that you need.

Features & Benefits of Trust & Will

Trust & Will offers several features and benefits, including:

Document review: estate planning experts will review documents (with the exception of guardianship arrangements)

Attorney support: unlimited support from an attorney (for an additional fee), providing you with advice on your documents, as well as helping you understand estate laws in your state. Only available in certain states: CA, TX, MI, NY, OH, and PA.

Share Documents: virtually share documents with loved ones, financial advisors, and other professionals as needed.

Customer Support: support is available via live chat and email, Monday- Friday, 9 AM to 5 PM PST.

Account Security: bank-level security is used to protect/encrypt all information and they promise to not sell/share your information without permission.

Document Creation: documents can be created within a few minutes with unlimited updates within the first year. Future updates require an annual subscription. You receive documents specific to your state, built by an experienced legal team.

Documents can be reviewed before being finalized and signed. Once signed, you receive a copy for your records, plus they will be stored online for additional updating and access.

Products Offered by Trust & Will

There are 3 product plans offered by Trust & Will:

  • Trusts
  • Wills
  • Guardians

Trusts

Allows you to create a custom, legally valid, state-specific trust within 15 minutes. Answer basic questions about yourself, your family, your distribution/care preferences, and documents will be created.

Once created, they can be updated when you need to. This plan allows you to create five documents:

Revocable Living Trust

This is the main part of an estate plan, where you provide for the management, control, and distribution of assets while you’re alive and when you pass.

Schedule of Assets

This is where your assets held in the trust will be listed. If any assets need to be added or removed, this can easily be done.

Pour Over Will

This is the document where your final arrangements and final wishes for your dependents will be established. It will also refer to details included in your trust.

HIPPAA Authorization

HIPPAA is a federal law within the healthcare industry restricting the distribution of personal health information to those who are not authorized.

This document provides specified individuals the right to receive this information for certain purposes.

Living Will

This document is critical in the world of advancing medical technology, as it specifies your medical treatment preferences in a situation where you cannot make those decisions yourself.

It provides authorization to third parties, including medical providers, to make certain care decisions as needed.

Once created, documents will be reviewed and finalized by the legal experts at Trust & Will.

Wills

Trust & Will allows you to create your last will and testament in about 10 minutes. This document allows you to specify final wishes for assets, final arrangements, dependents, and possessions.

In addition, this package includes a Living Will and HIPPAA Authorization as well.

Once created, documents will be reviewed and finalized by the legal experts at Trust & Will.

Guardians

The final package is Guardians and is perhaps the simplest of the documents offered by Trust & Will. However, it is probably the most important- especially for parents.

This is where parents can provide for the guardianship of their children without having to create a will or trust. You are simply appointing legal guardianship for your children.

Since it’s simple, it can be done within a few minutes. Additionally, it can be updated as necessary.

This document will be tailored to the specific requirements within your state and will name the person/persons that you wish to care for your children upon your death.

Visit Trust & Will.

Trust & Will Fees & Pricing

Each of the three products offered by Trust & Will has a separate fee structure:

  • Wills: $159 for individual, $259 to include spouse. Fee provides you with unlimited updates within the first year. Additional fee of $19/year for unlimited updates beyond first year.
  • Guardian: $39 for individual, $69 to include spouse. Fee provides you with unlimited updates within first year. Additional fee of $12/year for unlimited updates beyond first year.
  • Trusts: $599 for individual, $699 to include spouse. Fee provides you with unlimited updates within the first year. Additional fee of $39/year for unlimited updates beyond first year.

Moneyback Guarantee

If you’re not satisfied with your documents, contact the company within 30 days to receive a full refund. There are no strings attached.

Trust & Will is Ideal for these clients

There are 4 customers that Trust & Will is an ideal service for:

Haven Life Customers/Customers-to-be

Haven Life presents strong life insurance policies with great rates and long terms. The application process is easy, and policies are offered nationwide.

To apply for coverage, you must be at least 20 years old. If you sign up for a policy through Haven Life, they provide you with a code for a free will through Trust & Will.

Those with simple estates

If you hire an attorney yourself, a will can cost you hundreds and a trust can cost you thousands. Therefore, if you have a small, simple estate, Trust & Will is an ideal solution for you.

This includes those with conventional assets (brokerage and retirement investments), personal possessions, and a home.

Those who wish to establish guardianship for children

If you don’t have many possessions or assets, but you have children, Trust & Will provides you with a low-cost way to establish guardianship for children upon your death.

Those in early life 

If you need a formal will or trust, but don’t have the budget to pay for attorney fees, Trust & Will allows you to do this. Then, as your assets grow, you can go with an attorney if needed.

Trust & Will is NOT ideal for these Clients

If your family and/or financial situation is complicated, Trust & Will is not the best option for you.

For instance, if you have children from several spouses, you will need documents that provide more detail.

The same goes for those who own a business or investment properties. Due to the fact that there are nuances with each situation with specific legal consequences, it’s best to use a personal attorney.

Advantages & Disadvantages of Trust & Will

The advantages and disadvantages of Trust & Will are outlined below:

Advantages

  • An attorney can charge hundreds of dollars to create a will or guardianship document and thousands for a trust. Trust & Will allows you to create these same documents for a fraction of the cost of an attorney.
  • Unlimited updates included for the first year and continued updates for an annual fee after that.
  • All final wishes documents available from simple guardianship to establishing a trust.
  • When it comes to final wishes documents, there is no one-size-fits-all. Documents provided by Trust & Will are specific to your state.
  • Documents are reviewed by trained experts to ensure compliance with federal and state laws.

Disadvantages

  • Unable to create irrevocable living trust because it is more complicated than a revocable living trust and requires the services of an attorney.
  • Not a law firm, therefore unable to provide legal counsel for more complicated situations that require an attorney.
  • Not able to handle complicated situations, such as involved family situations, business, or investment property ownerships.

Summary

Trust & Will is a service providing legal forms and information to help with the creation of guardian documents, wills, and trusts.

While you still get access to a qualified legal team, the cost is much less than you would pay for a personal attorney.

All documents are reviewed and finalized by these legal experts, and you can make unlimited changes within the first year.

After that, there will be an annual fee assessed in order to continue unlimited changes. 

Visit Trust & Will.

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Enoch Omololu

Enoch Omololu is a personal finance expert who has a passion for helping others win with their finances. He has a master's degree in Finance and Investment Management from the University of Aberdeen Business School and has been writing about money management for over a decade. Enoch has been featured in several leading personal finance publications including MSN Money, The Globe and Mail, Wealthsimple, and the Financial Post.

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