Legal Wills with Tim Hewson | E310

Fintech Impact

Jason 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:

• 00:34: Tim introduces the topic of legal wills, emphasizing their significance and the need for everyone to have one. He discusses the mission of making will preparation affordable and accessible to everyone.
• 01:04: Tim outlines the mission of LegalWills, emphasizing the removal of barriers to will preparation. He discusses the accessibility and affordability aspects, considering it a vital document for everyone.
• 07:36: Tim introduces the Key Holder concept, allowing users to securely share information with designated individuals when needed. He explains the Messages service, enabling users to leave specific messages for their loved ones after their passing.
• 10:53: Jason commends LegalWills for allowing users to pick and choose services. He highlights the importance of having a Power of Attorney for young adults turning 18, and he appreciates the affordability of LegalWills' solution.
• 14:49: Tim explains that LegalWills covers a broad range of scenarios, including lifetime interest trusts for blended families. The service evolves over time to address various situations, and currently, there are few cases that they do not cover.
• 18:15: Tim responds to the criticism of LegalWills' affordability by questioning the high charges for simple wills by some law firms. He argues that basic wills shouldn't cost as much as they often do, and he highlights the issue of lawyers overcharging for relatively straightforward services.
• 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:

1. LegalWills aims to simplify estate planning, catering to diverse needs, including those of blended families.
2. Tim discusses the challenge of balancing growth and service quality as Legal Wills has steadily expanded without external funding.
3. 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.”

Resource Mentioned:

• Facebook – Jason Pereira's Facebook
• LinkedIn – Jason Pereira's LinkedIn
• Woodgate.com – Sponsor
• https://legalwills.company/
• https://www.linkedin.com/in/timhewson/?originalSubdomain=ca
• Podcast Editing

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