70% of Trust & Will members are ages 25 to 50
Cody Barbo · Trust and Will Company Passes 5k Customers, $1m in ARR Digital Way to Do Estate Planning · Jun 12, 2020 · at 2:56
Cody Barbo, founder of estate planning platform Trust & Will, breaks down the core age demographics and customer profile of the company with Nathan Latka.
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“Yeah, so majority, about 70% of our members are gonna fall within the kind of 25 to 50 range and have minor children. It doesn't discount the fact that 30% of our members are 55 plus, but our core focus is really people that are starting families, buying their home, building their wealth, and going on this journey.”
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Trust & Will executed the first US electronic will in 2019
“And then we have our kind of history defining milestone was last year in January, we did the first electronic will in history, US history, which means digital signature, digital notary, digital storage of documents.”
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“Yeah, 40% of boomers have no form of estate plan, which is honestly a crisis.”
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“Because we felt that a free product within estate planning can actually communicate distrust. Well, what's the catch if I'm making these sensitive decisions, right? What's the catch of a free estate planning document? So that's why we like the paid product.”
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“That if they canceled out of the subscription, they came back in three years because they had another kid, they want to update their trust, it's going to cost them the full purchase price versus that 50 bucks a year recurring.”