Jason Pereira interviews Tim Hewson, CEO of LegalWills, an online platform providing millions of users with a simple and accessible solution for creating legal and compliant wills. Tim discusses the importance of having a will, the challenges of estate planning, and how Legal Wills aims to demystify the process.
Episode Highlights:
- 03:00: Recognizing the inadequacies of existing will templates, Tim and his co-founder envisioned an online platform, drawing inspiration from Microsoft Office's user interface to guide users through the will preparation process.
- 08:39: Tim talks about additional estate planning documents, including a Financial Power of Attorney and Living Will, designed for situations where an individual loses capacity, and decisions need to be made on their behalf.
- 11:32: Tim discusses the expansion of LegalWills to multiple countries and the challenges of adapting services for different jurisdictions. He introduces the concept of expatriate wills, allowing users to cover assets in different countries with complementary wills.
- 16:57: Jason reflects on the binary decision people face when choosing between affordable online services like LegalWills and more expensive options for complex legal matters.
- 22:31: Tim acknowledges the challenge of changing the perception that creating a will is only necessary when someone is about to die. He discusses the battle to disassociate the act of writing a will from thoughts of death, emphasizing that estate planning should be a standard part of financial planning.
- 24:28: Jason and Tim emphasize the emotional impact on families left to deal with disorganized estates and stress the importance of creating a will to prevent conflicts and contempt among family members.
Key Points:
- LegalWills aims to simplify estate planning, catering to diverse needs, including those of blended families.
- Tim discusses the challenge of balancing growth and service quality as Legal Wills has steadily expanded without external funding.
- The platform has made a positive impact on users and charities, emphasizing the importance of organized estate planning for individuals and
Tweetable Quotes:
- "Writing a will shouldn't be about dying; it's part of financial planning. Organize your affairs while you're well; it's a gift to your loved ones.”
- "We're on a mission to demystify wills. Losing the legalese can make the process more accessible. It's about clear instructions, not complex language.”
- "Every person who used our service is better off—over a million users and counting. Helping families and charities with organized estate planning is what keeps us going.”
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