What is Willio?
Willio is an Estate Planning tool that lets you create your Last Will & Testament online.
The Current Landscape
Before a few years ago, in order to write your Will, you had to hire a lawyer and meet him in person. A lawyer typically charges $2500 (and up) to write your Will. They usually recommend specific documents or legal loopholes regarding your estate, which can be very beneficial if you are a super high worth individual.
However, if you're NOT a high net-worth individual, then spending $2500 for a lawyer to use a boilerplate document is a waste of money.
Now, with the modernization of estate planning, you’re able to create your Will (and other estate planning documents) online and for much less money.
Willio has several competitors in the online estate planning industry - LegalZoom, Trust and Will, FreeWill and Willing. Most offer a simple platform to create your will by asking you some questions about your assets and who you want to leave them to.
Adoption by typical customers in this industry is low - mostly because not a lot of people know about it. It's a scary area for most people - they'd rather not think about what happens when they die!
Company Birth Story
To be truthful, Willio started one night at a bar. Tyler McLeod was at a local establishment, when a patron asked him what he did for a living. Tyler, dressed in a nice suit, easily stood out in a bar full casual locals. Tyler told him he was an estate planning attorney and a few details about what he does on a daily basis. The man wasn’t impressed. He promptly said, “your job is going to be replaced by the internet.”
With that statement, it dawned on Tyler that, although rude and abrupt, the man might have been right. So he thought, if someone really is going to replace my job with the internet, I might as well be the one to do it. The idea for Willio was born right there. After two developers, Tyler finally found Erick Arbé, his third developer and co-founder who shared Tyler’s vision for a product that could easily put a Will in the hands of every American who had access to the internet.
The ultimate goal of Willio is to become the go-to solution for digital wills. Right now, only 8 states recognize a will in digital form. At the Federal level, digital wills are legal. However, it’s up to each state to determine if they allow digital wills. Willio ultimately believes that digital wills will be legal in all 50 states one day.
The team at Willio is currently building a system to create, sign, and store your digital will, while using blockchain technology to further secure the process.
The two founders both have complementing skill sets - Tyler is a practicing estate planning attorney who participates in state and federal level legislation to further progress the adoption of digital wills. Erick is a full-stack developer that has been involved with blockchain technology since 2014. Their vision for the future of digital wills will one day become the de-facto way to write your will online.
The Team Culture
The two founders of Willio are Tyler McLeod and Erick Arbé. Both gentlemen are young entrepreneurs with a vision for modernizing the estate planning industry. They are both early adopters of technology and both run their own successful business. Tyler is partner in a law firm, while Erick owns a digital agency.
A Founder Quote
"I believe the future of estate planning is electronic wills which are wills that are signed and witnessed online using digital signatures and then stored online. Everyone has obviously become very familiar with Zoom and other programs during this pandemic. Many clients have asked me why we could not sign the documents over zoom? They asked why we have to set up tables in the parking lot and risk getting sick. I obviously did not see the current COVID-19 pandemic coming when I first came up with this idea, but the pandemic has showed how important it is for people to be able to create Wills without the necessity of being physically present with the witnesses and the notary."
— Tyler McLeod, CEO & Co-Founder
Check It Out : https://willio.com/
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