Monarch has partnered with Trust & Will, a leading online estate planning platform, to make estate planning more accessible to Monarch members. As a Monarch Plus member, you receive a complimentary will through Trust & Will ($299 value), covered by Monarch. If you'd prefer a trust instead, you can apply that same $299 value toward the cost of a trust plan. Whether you're starting from scratch or updating an existing plan, this partnership makes it easier to take action on one of the most important financial tasks you can do for your family.

Table of Contents

• Who Is Trust & Will?
• What's the Difference Between a Will and a Trust?
• Getting Started with Your Will
• Frequently Asked Questions

Who Is Trust & Will?

Trust & Will is an online estate planning platform that makes it easy to create legally valid wills, trusts, and guardianship documents without the cost and complexity of traditional attorneys.

Founded in 2017, Trust & Will has helped over 500,000 people across the U.S. create estate plans. Their platform is:

• State-specific: documents are tailored to meet the legal requirements of your state
• Attorney-reviewed: all documents are designed by estate planning attorneys
• Secure: your documents are stored safely and accessible anytime

What's the Difference Between a Will and a Trust?

Estate planning can feel overwhelming, but understanding the two core document types is a great place to start.

Will

A will (or "last will and testament") is a legal document that outlines:

• Who inherits your assets after you pass away
• Who you want to serve as guardian for your minor children or pets
• Who is responsible for carrying out your wishes (your "executor")

Wills go through a court-supervised process called probate before assets are distributed. They take effect only after death.

Trust

A trust is a legal arrangement through which assets are held by one party (the trustee) for the benefit of another (the beneficiary). A revocable living trust:

• Lets you transfer assets to your beneficiaries without going through probate
• Can take effect during your lifetime, for example, if you become incapacitated
• Offers more privacy than a will, since it doesn't become part of the public record

Trusts are generally more complex and more expensive to set up than wills, but offer greater flexibility and control.

Which one do I need?

The right choice depends on your situation. Trust & Will's platform offers a quiz to help determine which plan is the right fit for you. If you are in a state that offers it, you can purchase the additional Attorney Support service with your plan to get professional guidance on what is best for you. If the attorney recommends a will rather than a trust (or vice versa), it's easy to change the product.

Getting Started with Your Will

Who Is Eligible?

The estate planning feature is available specifically for Monarch Plus members who are past their free trial.

 How to Access the Feature

To get started, navigate to “Settings” then “Estate Planning” in your Monarch account. You'll see an option to claim your estate plan through Trust & Will. You’ll create a Trust & Will account and start the estate planning process directly on their platform.

Plus members receive a free Couples will through Trust & Will (a $299 value), covered by Monarch. If you'd prefer a trust instead, you can apply that same $299 credit toward the cost of a higher-tier trust plan. No promo code needed.

What to Expect

Most members can complete a basic Couples Will in as little as 30 minutes on Trust & Will's platform. Trusts may take longer depending on complexity.

Once your documents are complete, the PDFs are stored directly in your account. You will be able to choose whether to download and print your plan or request a shipment be sent to you. You'll be able to update them anytime if your circumstances change.

Note: Executing your Will (making it legally valid) typically requires witnesses and, in some states, a notary. Trust & Will will provides clear instructions for signing and notarizing specific to your state's legal requirements.

Frequently Asked Questions

Is this available to all Monarch members?

Estate planning is available to Monarch Plus members. All Monarch members continue to have full access to Goals, budgeting, Cash Flow, Net Worth, and all core features. Learn more about Monarch Plus here.

Does Monarch store my estate planning documents?

No. Your estate planning documents are created and stored directly on Trust & Will's platform. You'll use your own Trust & Will account you’ve created to log back in and access your dashboard and documents any time. Monarch does not have access to the contents of your documents.

Is my information shared with Trust & Will?

When you access Trust & Will through Monarch, no data is shared with them. You can review Trust & Will's security policy for details on how they handle your data.

Can I use Trust & Will if I already have a will or couples will?

Many members use Trust & Will to update their current estate planning documents. However, this depends on a few different factors, so we recommend reaching out to their member support team to inquire whether you may be able to update your existing documents with their platform.

What if I have questions about my estate plan?

Trust & Will's support team is available to help with questions about their platform and documents. For complex legal situations, they recommend consulting with a licensed estate planning attorney in your state. Monarch is not able to provide legal or estate planning advice.