The demand for accessible and affordable estate planning has never been greater. With an aging population and an estimated $84 trillion wealth transfer expected over the next two decades, the need for clear, simple tools to protect families and leave legacies is critical. Yet, a startling 67% of Americans still do not have a will. Online estate planning platforms are uniquely positioned to close this gap—and are doing so by expanding their reach across multiple, diverse distribution channels. This is Part I of a two part series on how online estate planning companies can leverage distribution to get more Americans protected with basic estate planning.
The Multiplier Effect of Expanded Distribution
Part I – Nonprofits, Financial Advisors and Insurers
By broadening the distribution of their platforms, online estate planning providers can create a multiplier effect that accelerates the adoption of estate planning tools, protecting more Americans and empowering them to support their loved ones and the causes they care about. In this segment, we will explore how tapping into the nonprofit, financial advisor, and insurer channels can maximize impact. In Part II, we will expand our analysis to direct-to-consumer, employee benefits and bank channels.
1. Nonprofit Organizations: A Pathway to Legacy Giving
America’s 1.3 million charitable organizations feed, shelter, educate, nurture, care for and inspire people of every age, gender, race, and socioeconomic status, from coast to coast. Tens of millions of Americans are current supporters of charities of all types. Nonprofits are natural partners for estate planning platforms. Through wills, beneficiary designations, qualified charitable distributions (QCDs), and other tools, donors can leave meaningful gifts that sustain organizations they love for years to come. LifeLegacy, for example, partners with scores of nonprofits to offer white-labeled estate planning tools, enabling donors to seamlessly include legacy gifts as part of their plans. This distribution channel not only supports philanthropy but also raises awareness among supporters regarding the importance of estate planning.
2. Financial Advisors: Trusted Guides in Estate Planning
27% of Americans currently use the services of financial advisors or planners. This represents tens of millions of adults, many of whom do not have an up-to-date estate plan. Financial advisors can be key allies in helping individuals protect their wealth and ensure their financial goals are met. Estate planning platforms can empower advisors with user-friendly digital tools, making it easier for them to guide clients through creating wills, setting up trusts, or designating beneficiaries. Trust & Will’s advisor channel demonstrates how integrating estate planning into broader financial planning services creates a win-win: clients achieve greater peace of mind, and advisors deepen their value proposition.
3. Insurers: Enhance the Value Proposition
Auto, home and life insurers have a unique opportunity to enhance their value proposition by offering complementary online estate planning products. Digital estate planning products align naturally with the core mission of insurance—to provide financial security and peace of mind—and can help insurers deepen customer relationships while differentiating themselves in a competitive market.
By bundling online estate planning services with insurance offerings, insurers can present a holistic solution that covers both immediate and long-term needs. This integrated approach not only increases perceived value but also helps policyholders view the insurer as a comprehensive partner in financial wellness.
And as more insurers move to digital sales and service platforms, offering online estate planning makes more sense than ever. For instance, life insurers can use these offerings to strengthen relationships with existing policyholders, particularly those experiencing significant life events such as marriage, parenthood, or retirement—moments when estate planning becomes a top priority. Additionally, estate planning tools can serve as a powerful acquisition strategy, attracting new customers who may be drawn to the convenience of managing both their insurance and estate planning needs in one place.
For P&C insurers, the integration of estate planning services can reinforce the importance of safeguarding valuable assets, such as homes and vehicles, while ensuring these assets are effectively passed on to loved ones and/or charitable organizations.
