Life after death is a difficult topic—not only for clients but also for the advisors who guide them. Yet for RIAs, estate planning has become a key expectation from clients, even as many advisors haven’t completed their own plans.
“We work with tens of thousands of advisors, and the most obvious trend is that most don’t have an estate plan themselves,” said Cody Barbo, CEO of Trust & Will. “When there's a gap in their own planning, it becomes harder to lead those client conversations. Many avoid them altogether.”
According to Trust & Will’s newly released 2025 Financial Advisor Report, one in four advisors lacks a personal estate plan. Meanwhile, 70% of clients now expect estate planning to be a standard part of their financial plan. This mismatch underscores the “do as I say, not as I do” dilemma increasingly visible in advisory practices.
Chuck Failla, CEO of Sovereign Financial Group and a new RIA partner of Trust & Will, reflected on this challenge. “I never really polled our advisors—do you have a plan or not?” he said. “It's the cobbler's kids with no shoes. Estate planning just isn’t something anyone looks forward to. But the good news is that technology is making it easier to get started.”
Trust & Will has secured over $80 million in funding from major institutions like UBS and Northwestern Mutual. Its platform is integrated with more than 200 financial firms, including leading RIAs such as Carson Group, Edelman Financial Engines, EP Wealth Advisors, Stratos Wealth Partners, and Wealthcare. The company also partners with LPL Financial, one of the largest independent broker-dealers in the country.
Since launching in 2017, Trust & Will has generated over one million estate planning documents. Its platform is available to both consumers and advisors through a mix of freemium and paid tiers. Competing solutions in the space include Wealth.com, Vanilla, EncorEstate Plans, and FreeWill’s Estately.
“In our direct-to-consumer business, families typically begin with a will,” said Barbo. “It’s the more recognizable option thanks to pop culture and general family conversations. But in our advisor channel, the focus shifts to trusts—especially revocable living trusts. Advisors understand that a trust offers stronger legacy protection and more privacy. A will still goes through probate, which makes everything public.”
RIAs are preparing for a seismic shift: the $124 trillion generational wealth transfer projected through 2048. Digital estate planning tools are becoming essential in meeting this moment.
Jeremiah Barlow, EVP and head of wealth solutions at Mercer Advisors, said the trust-first mindset is gaining traction among both advisors and clients.
“If someone owns a home, has kids, and more than $100,000 in assets, a revocable living trust is likely the better option,” Barlow said. “That’s become the go-to estate planning vehicle. Twenty years ago, it would’ve been a will—today, that’s changed.”
