Tag: Product Updates

At Wealth.com, our commitment is to provide our advisor partners and their clients with best-in-class tools to create, manage and visualize their estate plans on an ongoing basis. The foundation of our comprehensive ecosystem is a steadfast commitment to maintaining quality and rigor, and an embedded intelligence layer to simplify the estate planning process. Check out the newest releases below. We welcome any feedback or questions: [email protected]

Document Matching for Clients on Couples Trust Plans

The Wealth.com platform is designed to guide members to make decisions based on their unique needs, which begins during their Onboarding process. For clients who are recommended a Couples Trust Plan, we extended our logic to take into consideration additional factors outside of their state of residence to guide them to draft either a joint revocable trust or two individual revocable trusts. These factors include whether couples file their taxes jointly, and have common beneficiaries and decision-makers in mind to be responsible for their estate. Clients also have access to answers to frequently asked questions to understand how each circumstance impacts their trust document recommendation.

Use Extractor by Ester™ Before Inviting Clients:

Advisors are now able to use Extractor by Ester™ as a stand-alone tool without inviting clients to create a Wealth.com account. With this new option, advisors still have the flexibility to invite their clients at a later date.

Document Enhancements:

We continuously optimize our document creation offering for clients to have a seamless experience from drafting to signing their documents. For clients who draft a Joint Revocable Trust, their document output now includes a Certificate of Trust that is optimized for their state of residence to certify the existence of the trust and provide key details. Clients who have drafted an Individual Revocable Trust already have a Certificate of Trust included in their document output.

We want to hear from you! Please share your feedback with us: [email protected].

Wealth.com has built a comprehensive ecosystem to simplify the estate planning process while remaining dedicated to maintaining quality and rigor. We are proud to work closely with our advisor partners and their clients to provide the tools to create, visualize and manage their estate plans over time. Check out the newest releases below. We welcome any feedback or questions: [email protected].

Share Files With Your Clients

To help organize important information for clients in one secure place, advisors are now able to upload and store files directly to their client’s Vault. With this functionality, advisors are now able to upload signed copies of their client’s estate planning documents and soon they will be able to confirm on their client’s behalf that their documents have been signed.

We continuously add new activity updates for our advisor partners to leverage to engage in thoughtful touch-points with clients. These updates provide advisors with ultimate transparency about their client’s Wealth.com account activity and progress in their estate planning journey.

• Client Changed Address: Advisors now receive an activity update when their client updates their address in-app. This activity update lets the advisor know the client’s latest address, as well as their previous address on file. Soon, this update will be paired with an insight for advisors to consider reaching out to their client to update their estate plan if it has already been drafted to ensure their documents reflect the laws of their current state of residence to ensure effectiveness and ease of administration.
• Client Requested to Consult an Attorney: Wealth.com offers a hybrid approach to the client experience, offering clients the ability to speak with an attorney in our preferred network. Now, when an advisor’s client requests to consult an attorney, we share that information back to their advisor and provide supporting information about their client’s request.
• Client Requested a Print & Shipment of Documents: Our advisor partners are now notified when their client requests to have copies of their documents printed and shipped. This update can be leveraged for our advisor partners to coordinate their client’s signing their documents and helps them to track their progress on completing their estate plan.

Document Enhancements

Customized Sub-Trusts for the Individual Revocable Trust: We’ve enhanced the ability for clients to better customize their documents to include sub-trusts, including a Marital Trust, Trust for Descendants, or a simpler Holdback Trust. As your client drafts their Individual Revocable Trust, their answers will help them to determine whether any of these sub-trusts should be included in their document. Please note that the ability to include a customized Marital Trust and/or Trust for Descendants is coming soon for the Joint Revocable Trust and Last Will & Testament.

Document Optimization Based on State Law Changes: We continuously update our documents to ensure they reflect the latest in state law. We updated our Financial Power of Attorney form based on changes to Vermont law to reflect the latest statutes.

We want to hear from you! Please share your feedback with us: [email protected].

Wealth.com is dedicated to simplifying the estate planning process while remaining steadfast in our commitment to maintaining quality and rigor. We are proud to work closely with our advisor partners and their clients to provide the tools to create, visualize and manage their estate plans over time.

Check out the newest releases below. We welcome any feedback or questions: [email protected].

Ongoing Ester™ 1.0 Optimization

We continue to make enhancements to Ester™ , our AI estate planning document extractor, including the following enhancements:

• Insights: Released new insights, including if we see a document is governed by one state but the client resides in another. This powers advisors to have thoughtful conversations with their clients about the status of their existing estate plans, and possible areas to address when they’re ready to make an amendment or restatement.
• Professional Reviews: We added the optionality for advisors to request a manual review of documents run through Ester™. For those who would prefer to not review information extracted by Ester™, this allows them an alternate way to still receive a summarized snapshot without having to cross-check the output with the document itself.
• Gift Tax Returns: We expanded the capabilities of Ester™ to extract information from Form 709s to summarize and calculate estate tax details.
• Training: Ongoing training of the model to read estate planning documents for higher F1 accuracy results.

Advisor and Client Collaboration

Not only can advisors pre-fill factual information on behalf of their clients to expedite the account creation process, but we are pleased to announce that advisors are now also able to create and edit contact cards for their clients.

The ability to collaborate with clients through contact cards better allows clients to begin their documents with key people already available as options to select within their document creation workflows. New collaboration tools will be coming soon, including Vault and Asset collaboration.

Document Creation

Joint Revocable Trusts for Florida Residents: Members in Florida are now able to create a Joint Revocable Trust. To help clients understand whether this document type is applicable to them and nuances between drafting two individual revocable trusts versus one joint revocable trust, read more here. Please note that at this time, members in Georgia and New York are not able to create a Joint Revocable Trust, though this capability will be coming soon.

Document Optimization: We continuously optimize our documents to ensure that we maintain the quality and rigor of our offering. We do this by partnering with local counsel in all 51 U.S. jurisdictions. In partnership with local counsel in Indiana, we updated our Revocable Trust documents to stay up-to-date with nuances to state law.

We are proud to work closely with our advisor partners and their clients to provide the tools to create, visualize and manage their estate plans over time.

We want to hear from you. Please share your feedback with us!

Wealth.com is proud to work closely with our advisor partners and their clients to provide highly effective tools to create, visualize and manage estate plans over time. Check out the newest releases below. We welcome any feedback or questions: [email protected].

Document Creation:

Document Optimization: Wealth.com partners with local counsel in all U.S. jurisdictions to ensure that we maintain quality and legal rigor of our documents. This continuous feedback loop helps ensure documents stay up-to-date with nuanced customizations. For example, Idaho recently released new laws that went into effect this summer, and we’ve optimized our Advance Health Care Directive forms to reflect these changes.

Joint Revocable Trusts for Common Law States: Wealth.com has always offered Joint Revocable Trusts to our members in community property states. Based on demand in other jurisdictions, we partnered with advisors and our legal experts to expand our offering to members in common law states. Learn more about the nuances between drafting two individual revocable trusts versus one joint revocable trust here.

Ongoing Support: Product Tours

Wealth.com provides ongoing guidance to ensure advisors and clients feel supported in their estate planning conversations. This includes on-demand resources like our digital Help Center, embedded content throughout the application, and the new in-app tours that help advisors and clients take full advantage of the tools available to them.

Printed Copies Securely Shipped:

You asked and we listened. We’re pleased to announce that advisors are now able to request through their advisor portal to have copies of their clients’ documents printed and shipped. This new capability allows advisors to pay for a shipment to be sent to their office to be signed at an upcoming meeting with the client, or directly to their client’s home.

Please note, estate planning documents for Louisiana may differ from other states. Reach out to our team to explore the most suitable options for your clients.

Thank you for being part of the wealth.com community. We always want to keep you up-to-date with our latest features available. Below, please see the newest features we launched last month. If you have any feedback or questions, we’d love to hear from you: [email protected].

Will & Trust Owner’s Manual

Created by expert in-house trust and estate attorneys, this propriety resource includes information about owning a Will, managing a Trust, and guidance on how to fund or transfer assets into a Trust.

Help Center

The new digital resource center is now available in-app. From getting started to understanding more complex estate planning questions, this information simplifies the process. If you still have questions, we are here to help: [email protected].

In Case You Missed It

A few noteworthy features to check out:

1. Attorney Consultations: Through our preferred attorney network, vetted extensively and available in all 50 states and DC, you can now connect directly with expert trust and estate attorneys in your state without leaving the app.
2. Asset Aggregation & Ownership: Securely connect to over 10,000 financial institutions and take advantage of integrations with Coinbase, Carta and Zillow. Stay organized and better understand the full structure and value of your networth, including how assets are owned.
3. Wealth Projections: Know your future net worth, the potential impact of federal estate taxes on your taxable estate, and get a better sense of what your beneficiaries may receive.

We want to hear from you. Please share your feedback with us!

We are excited to announce that we now offer the ability for married members in common law states to draft Joint Revocable Trusts.

Wealth.com always seeks to provide meaningful solutions to our advisor partners and their clients. We have offered Joint Revocable Trusts to our members in community property states since our launch. Based on the demand for this feature in other jurisdictions, we have partnered with advisors and our legal experts to expand this feature to common law states.

For members who are unsure what type of Trust document makes sense for them, the Wealth.com platform has an embedded intelligence layer to help members select the Trust type that best suits their needs, including the member’s state of residence and marital status. For example, for married couples in community property states (AZ, CA, ID, LA, NV, NM, TX, WA, and WI), a joint revocable trust might be most appropriate to simplify the administration of their community property.

For couples living in common law states (all other states), it may be most appropriate to prepare two individual revocable trusts. Traditionally, estate planning attorneys in common law states prefer for couples to sign two individual revocable trusts for three main reasons:

1. When each spouse has their own trust, this increases the flexibility for each person to uncouple decisions regarding trustees, beneficiaries, and assets to be transferred into the trust. This can be particularly important for blended families or couples established later in life.

2. A joint trust can create confusion over asset ownership for income tax reporting and opens the possibility of inconsistent income tax filings, which the IRS may not respect upon audit.

3. The probate and trust administration process may be more efficient if only one person’s trust is involved at that person’s death. For example, if there is an issue about the validity of the document or someone sues the estate of the first spouse to die, the estate plan of the surviving spouse will not be implicated.

However, circumstances and priorities vary, and some use cases warrant the need for a joint revocable trust regardless of your state. We are pleased to now deliver this to our members.

Our platform is designed to guide members to make decisions based on their own unique needs, including the proprietary evaluation form to understand what documents are appropriate. Members that would like additional platform support or education can also speak with our success team through phone, chat, or email ([email protected]). For those that are in need of legal advice, they may choose to consult with an attorney through Wealth.com’s preferred network at any time.

At Wealth.com, we are proud to deliver a seamless and worthwhile experience to our members. Our product innovation is driven by our commitment to partnering with our advisors and their clients to find solutions to their problems. For our June update, we’re excited to share new releases. We welcome any feedback or questions: [email protected]

Spotlight: Updated Advisor Dashboard featuring the Activity & Insights Feed

• We released an updated design of our Advisor Dashboard. Alongside a sleeker feel, we’ve also enabled an Activity & Insights feed that provides our partners with information about their clients’ latest activities.
• This feature reflects our commitment to creating transparency between advisors and their clients, facilitating effective and ongoing dialogue about financial and estate planning.

Help Center

Wealth.com was built to take the stress and complexity out of estate planning, empowering people to create plans that secure their future. We’re committed to empowering our partners and members by providing them with the answers they need, when they need them.

We’re excited to share that we now have a Help Center available in-app for both members and advisors. These tools provide answers to frequently asked questions, as well as information about estate planning.

Having a digital Help Center — in addition to educational videos and our Member Success team that offers email, phone and chat support — is part of our dedication to making sure that no matter how you prefer to access information, we have something that works for you.

Wealth.com advisors and members can check it out here.

In Case You Missed It

Members expressed needing to speak with an attorney, so we made that process easy. Through our preferred attorney network, vetted extensively and available in all 50 states and DC, members can now request to speak with expert trust and estate attorneys in their state without leaving the app.

We want to hear from you. Please share your feedback with us!

To continually deliver quality and value to our members, we take a proactive approach to product innovation. This update highlights features from the month of April. We welcome any feedback or questions: [email protected]

New Feature Spotlight

Our Wealth Projections Calculator is now live. Going beyond comprehensive net worth calculations, our machine-learning-based model projects a member’s future net worth, the potential impact of federal estate taxes on their taxable estate, and what their beneficiaries may receive based on these insights. Designed by the SVP of Machine Learning, the former Head of Data Science and Machine Learning at Vanguard, our proprietary machine learning model uses specific asset types to provide realistic projections, relying on 20+ years of economic data customized specifically to capture signals that might impact a member’s net worth.

Interested in exploring the Wealth Projections tool?

Document Creation

• We further customized our document creation workflows to accommodate members who are in long-term, but not legally-recognized relationships, so that they can better document their wishes to include their long-term partner. This includes an analysis of how this relationship status impacts tax and estate planning based on federal laws.
• Revocable Trust and Last Will & Testament documents now allow members to choose to redistribute a deceased beneficiary’s shares among other chosen beneficiaries, or to instead pass the shares to the deceased beneficiary’s descendants.
• In order to help create legally sound and accurate documents, we enhanced our document creation workflow to guide members to sections of their drafting that may warrant an additional review.

For Financial Advisors

• Our advisor partners and their relationships with their clients are extremely important to us. We updated our onboarding experience to improve clarity on the relationship between the client and advisor, highlighting that the platform does not enable the advisor to provide legal advice to the client.
• To improve efficiency and streamline onboarding, we added flexibility to the client invitation process for advisors by enabling the ability to copy a link to invite their clients to join Wealth.
• With recent banking volatility, highlighted by Silicon Valley Bank falling under FDIC receivership, asset protection is top of mind for advisors’ clients. In response, we released new content for advisors to leverage in conversations with their clients, including how effective estate planning can be used as a tool for asset protection and FDIC coverage.

Additional Updates

The onboarding experience was updated to reflect more specific details, including if a member has children and/or already has an estate plan, to provide more personalized experiences in app and smarter auto-completion within the document creation workflows.

We want to hear from you. Please share your feedback with us!