NEW YORK, Oct. 11, 2017 /PRNewswire/ -- Fabric, the company that provides easy and affordable access to life insurance, announces the launch of a new product, Fabric Wills. Simple, beautiful, and free of charge, Wills is designed to address the critical need for an accessible way for anyone to create a will. Over half of US adults – some 3 in 5 – do not have a will in place,1 leading to potentially burdensome legal, tax, and emotional consequences for millions of American families. Fabric created Wills because it believes that these repercussions are easily avoidable with the right kind of tools.
While launching Fabric's life insurance service, co-founders Adam Erlebacher and Steven Surgnier discovered just how many Americans not only lacked life insurance but also did not have a will. Without a will, a court may choose who will become a child's guardian, and can decide who receives property and financial assets. "As a new parent, the idea of not having a say in what happened to my family hit close to home. I felt a responsibility to come up with a free and simple way for families of any means to plan for their children's future," said Adam.
How Fabric Wills Works
Fabric Wills walks the user through each step in creating a will, a process that is designed to take about five minutes in total, and outlines the steps to make the will a legally binding document. Parents designate guardians for their children, name beneficiaries and bequests for their estate, select executors for their Last Will and Testament, and express wishes for their final arrangements. Fabric Wills then generates a Will Kit, which includes the will itself, a checklist with steps for making the will a legally binding document, final arrangements, and Messages, a set of prompts and sample language for communicating with guardians, executors, and witnesses of the will.
Design and Technology Make it Easy
One key reason cited to explain why over half of US adults do not have a will is that people simply do not like to think about death. Fabric Wills addresses this problem directly, by engaging with users through a design language focused on life. Planning for the future of one's family in the event of the unthinkable can be difficult, which is why the aesthetic strategy behind Fabric Wills instead celebrates life. After all, the intention of a will is to serve that which lives on.
Fabric Wills offers a simple way to create a personalized legal will, without the expected cost or complexity. This means not only covering the mechanics of creating a will, but also addressing the personal process. Through its Messages feature, Fabric Wills provides examples of ways to begin a conversation with guardians, executors, and witnesses. Samples of both casual and formal language help the user find the right words for starting a conversation that could otherwise be difficult. Furthermore, the sample language helps the user explain each designated role in the simplest of terms. Fabric Wills understands the administrative importance of having a will, but moreover is empathetic to the personal barriers that stand in the way. The Messages tool helps users overcome these obstacles by offering a simple, human approach. Fabric Wills looks at the whole process and the whole person, embracing peace of mind for life in the present and empowering parents to take control of their family's future.
Fabric believes that every family deserves a secure financial future. With an ever-growing team of design, technology, and insurance professionals, Fabric is committed to bringing financial products for new parents into the modern age with an experience that is simple, affordable, and beautiful.
The purchase of insurance is not required to make your will using Fabric Wills. Fabric is not a law firm, is not licensed to practice law in any jurisdiction and does not provide any legal advice. If you do need legal advice for your specific situation, you should consult with a licensed attorney and/or tax professional.
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1 DiUlio, N. (2017, August 16), More Than Half of American Adults Don't Have a Will, 2017 Survey Shows.
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