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WHERE THERE’S A WILL


MANY PEOPLE FIND THE IDEA OF WRITING A WILL DAUNTING, BUT A HONG KONG START-UP
OFFERS A DIGITAL SOLUTION THAT MAKES THE WHOLE PROCESS EASIER.

25 April 2022




Hong Kong online will-writing start-up NobleWills seeks to make estate planning
easy and accessible for everyone. Established in December 2021 by co-founders
Sarah Ip, a qualified lawyer, and Brian MacPherson, a software developer, the
company launched simultaneously in Hong Kong and Singapore and is already
looking to expand its range of products and services. Ms Ip discussed the firm’s
progress so far.

Why did you start this venture?

Writing a will – and estate planning in general – is one of those things that is
usually at the bottom of everyone's to-do list. That process of planning for
your family's future has traditionally been intimidating, costly,
time-consuming, complex and stressful. We created NobleWills to ease that burden
and make the process more accessible to everyone. By bringing these services
online and in one place, we believe we can improve every aspect of people's
experiences.

How did you identify the gap in the market?

Through my work in law firms I recognised that existing services were
antiquated, inefficient and expensive, and that for many people this was proving
a deterrent. Yet, estate planning is something that every individual should do,
regardless of wealth or family circumstances, to save loved ones from the
financial and mental stress that they would otherwise have to endure. It
includes important aspects such as arranging guardians for children and pets,
distributions of assets, organising lists of assets and digital assets, making
gifts of personal items, and so much more. We wanted to be the first company
currently offering an all-online service, covering not just a will, but also
other additional estate planning documents.

Are current conditions in your favour?

Now was a better time than ever to bring this service to market. During the
pandemic, many people worried about conducting face-to-face meetings and most
preferred to buy and use services online. We saw an opportunity to bring this
traditional process of estate planning online. Above all, we wanted to create a
product that was easily accessible to the general public, affordable,
educational, easy to use and efficient.

How does it work?

For estate planning documents, customers can easily do most of the work online
with a quick turnaround of the completed documents by our team. Our online
services are easy to use and filled with support along the way with helpful
tips, educational articles and a live-chat button where our will specialists
will personally answer your questions.

Most companies end their services when the documents are complete; however,
people's lives continue to transform as time goes on, and so should their plan.
Because of this, we also offer an editing membership for a small yearly fee that
allows customers to continue to make changes to their documents easily. We also
put an emphasis on legacy giving to charitable organisations. By partnering with
NGOs that need funding, we are making it easier for customers to give to
charities that they find important.

Do you only do wills?

Wills are our biggest product offering; however, we offer an array of documents
that together make up the bigger picture of estate planning. For example, the
Deed of Temporary Guardianship, which allows parents to choose temporary
guardians if they cannot be contacted, is a good safeguard to have, especially
for families whose relatives live abroad. In the event that the parents should
pass away, it ensures the children will be looked after until the permanent
guardians can take up the role.

Another important document to have in place, especially as people age, is the
Enduring Power of Attorney. This allows an individual to choose someone to
access their financial affairs if they become mentally incapacitated.

We also offer probate services, in strategic partnership with CPH Legal, along
with insurance and tax services from third-party providers.

Are online legal services like this the way for the future?

Definitely! Services and products from all sorts of industries are transitioning
to Web 2.0 or Web 3.0 and it only makes sense that legal services would also
transition to be more online friendly, especially since a lot of the work
involves documents and a physical presence is not always required.

Related link
www.noblewills.com




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