Company Market Research Report: FreeWill Co.
Company Overview
Name
FreeWill Co.
Mission of the Company
“Our mission is to help people plan for the future while doing the most good for the people and causes they care about.”
Founding Information
Founded
No information is available
Founders
- Jenny Xia Spradling: Co-CEO, previously worked at McKinsey and Bain Capital, cofounder of Paribus (acquired by Capital One)
- Patrick Schmitt: Co-CEO, founded two nonprofit organizations, served as Head of Innovation at Change.org
Key People
- Jenny Xia Spradling: Co-CEO
- Patrick Schmitt: Co-CEO
Headquarters
No information is available
Number of Employees
No information is available
Revenue
No information is available
Known For
FreeWill is known for providing free online tools for estate planning, making complex legal processes accessible to the public while facilitating charitable giving.
Products
Overview
FreeWill offers a diverse range of estate planning tools, all accessible for free to ensure anyone can make important legal arrangements from the comfort of their home.
Product List
1. Last Will and Testament
- Description: A legal document to specify who should receive one’s property after death, name guardians for minor children, and provide for pets.
- Key Features:
- Easy online form completion
- Customizable specific to state laws
- Option to leave charitable gifts
2. Living Will (Advance Healthcare Directive)
- Description: Allows individuals to specify healthcare wishes and appoint someone to make decisions on their behalf if they are unable.
- Key Features:
- Specify end-of-life medical care decisions
- HIPAA authorization included
3. Durable Financial Power of Attorney (DFPOA)
- Description: Enables appointment of someone to make financial decisions if the individual is incapacitated.
- Key Features:
- Financial decision-making delegation
- Legal and secure process
4. Beneficiary Designations
- Description: Document to distribute assets not covered by the will, including 401(k)s, IRAs, and life insurance policies.
- Key Features:
- Easy designation process
- Ensures financial assets are distributed as desired
5. Revocable Living Trusts
- Description: Available only in California, this product can fulfill many functions of a last will while avoiding probate.
- Key Features:
- Avoids probate
- Flexible and revocable
6. Charitable Stock Gifts
- Description: Allows users to donate stock directly to charities.
- Key Features:
- Real-time impact on charities
- Tax efficient
7. Charitable Crypto Gifts
- Description: Facilitate donation of cryptocurrency to charities.
- Key Features:
- Easy and secure crypto donations
- Supports nonprofit organizations
Recent Developments
Company Developments
- SOC2 Type 2 Certification Announcement: FreeWill announced its certification, emphasizing its commitment to security and trust.
New Products
No information is available
New Features Added to Existing Products
No information is available
Partnerships
No information is available
Conclusion
FreeWill Co. is instrumental in providing free, legally valid estate planning tools, enabling users to easily handle end-of-life arrangements while promoting charitable giving. The company's key products include wills, living wills, financial power of attorney forms, and tools for stock and crypto donations. Recency shows a significant push towards security with their SOC2 Type 2 Certification, but further details on revenue, employee count, and additional key personnel remain unavailable.
FreeWill remains driven by its mission to democratize estate planning and support nonprofit causes globally.
