Joel and Rachelle Cummings, a couple from Seattle, have thought about the challenges of planning for their family's future. They were married 3 years ago and just bought their first home. If Joel, who has the higher income, happens to pass away, Rachelle would have a hard time with the mortgage. This is a very common situation for young couples and families.
The Tomorrow app allows them to easily make decisions on how their estate should be handled. "It's very intuitive," she says. "It's like, 'Oh yeah, I own a computer. And a house. And a car.' It takes the emotion out of it."
Some sobering facts that helped convince Joel and Rachelle:
- Nearly 80% of millennials don't have a will, which means that those families don't have guardians for their kids.
- 50% of millennials would have immediate trouble paying their bills without the primary wage earner.
- 74% of Americans don't have individual life insurance.
We believe that everyone should have access to these resources regardless of their financial circumstances. You can use the app to create a will or form a revocable living trust, and we don't charge you so much as a penny to do so.
This story first aired on KOMO news on 10/19/17 date.