Project HEAL sat down with Patrick Schmitt, CEO of FreeWill to learn more about the process of making a personalized last will and testament.
What is FreeWill?
FreeWill is a new social venture out of Stanford University, with the mission of helping people do the most good for the people and causes they love!
The problem we’re solving is that pretty much all adults (including you!) need a legal will to direct where their resources should go if they pass away. But the current process is scary, complicated, and very expensive, so fewer than 30% of Americans have an updated will.
Plus, it’s pretty hard to figure out how to leave money to organizations you care about, if you’re into that, like we are.
So we built new tools that help people do their estate planning in a way that is warm, friendly, intuitive, and free. You can use FreeWill right now, for free.
How does FreeWill work with nonprofits like Project HEAL?
We are really lucky to work with several amazing organizations, like Project HEAL, that are doing heroic work.
We use our technology expertise to build custom versions of FreeWill for a group like Project HEAL, so they can share it with their supporters. This helps those people have free access to something that would otherwise be very expensive, and potentially helps generate more giving to Project HEAL.
How easy is it?
Very easy. It takes less than 25 minutes (and for some people, less than 15) to make a legal will online using FreeWill. Then, you print out your will and sign it in front of two other people, who serve as “witnesses” to make it legally valid. That’s it!
If you have a particularly complicated estate (you have tons of money, or you own property overseas, for instance), we can help you document your wishes and find a qualified attorney near your zip code, too.
How much does it cost?
It’s free, of course.
How has working with Project HEAL impacted you personally?
Working with Project HEAL has impacted me in two specific, and very different ways.
First, I think the team is incredibly inspiring, and their mission is so important. So it’s excited for the FreeWill to be waking up every morning and supporting movements like this one, and I think it makes us work even harder.
Second, working with Project HEAL has reminded me of how prevalent and significant eating disorders are in the United States, and that when I step into a room with any small or large group, there is probably someone in that room who is battling or knows someone battling an eating disorder. It’s also helped me think about how to be most helpful to those people in my own life.
What Ice cream flavor best describes your personality? Why?
I’d like to think that it’s Chocolate Cookie Dough. Because you taste the chocolate and think “this is good, solid, reliable ice cream that is steady and wonderful.” But then you taste the cookie dough and think “I was not expecting that.!” :)