The legal technology firm, Trust & Will, which specializes in estate planning, has brought on board Douglas Luftman as their newly appointed Chief Legal Officer. The firm, while not directly offering legal services, works closely with estate-planning professionals and lawyers to provide a cost-effective solution to their customers. Reputed for their intriguing advertisements featuring their general counsel on television, the firm aims at transforming trusts and estate law into an accessible domain for a broader population base.
Trusts and estates law groups in Big Law have had varied outcomes over the past decade, with some large firms exiting the practice, while others actively pursuing industry rainmakers. The client base of these firms is a minute proportion of the overall population; predominantly serving the ultra-rich estate holders. Trust & Will is planning to bridge this gap by simplifying trusts and estates law and making it accessible to larger demographics. “Over 60% of those in the US are without a will and this is even higher in minority communities and for those who can’t afford such services,” noted Luftman, who brings 25 years of experience in the legal field.
Having secured additional funding via venture capital arms of Comcast Corp. and Erie Insurance, along with a $15 million fundraising led by American Express Co.’s venture unit, Trust & Will’s total financing has exceeded $50 million since its inception in 2017. Co-founder and CEO Cody Barbo and general counsel J. Patrick Hicks have appeared in various online and television commercials promoting the company’s digital estate planning and settlement platform. As the firm’s pitchman, Hicks will continue his general counsel role along with his on-screen attributions.
A seasoned technology industry lawyer, Luftman will now lead the firm’s legal, governmental affairs, and people functions. Trust & Will’s bolstering of its team with several new executives, including Luftman, comes as part of its strategic growth plan. The forward-facing positions of the in-house lawyers at Trust & Will, though unusual, presents a unique dynamic – offering a collaborative perspective on all aspects of product development and partnerships, to playing a vital role in the business ecosystem within which the company operates. As Trust & Will continues to expand its presence, the firm aims to help individuals and their families preserve their legacies.
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