Estate planing reimagined for today’s generation

Electronically create and sign your trust, then download the mobile app for 24/7 access and make updates to your trust at anytime

case-study-modern-trust

Summary

Our client Mr. Dan Hales, an attorney in trust and estate planning for around 30 years approached iZoticus Technologies with an idea to automate the process of creating and securely maintaining the legal Trust Documents and avoiding manual intervention of an attorney as the user can do it themselves. Provision for bringing preferred Trustees on the platform with the responsibility to inform the System Administrator of Death or Incapacitation to the Trustor. Also allowing the System Administrator to handle the complete Business Operations. Together, we have ventured on the journey from initial assessment till solution implementation, and beyond.

Website: https://moderntrust.com/

Challenges

  • Business Acumen – Being our first undertaking in legal industry, it was important that business case and context of this project was understood and agreed by all stakeholders.
  • Information Gathering and Analysis – This required a lot of interactions and collaborations with the client as it was important that all the requirement was clearly captured from system and process perspective.
  • Security – Trusts, being legal documents, an appropriate level of security for Information Management was extremely critical.
  • Remote Collaboration – The client being from a different location within USA required that the project be undertaken completely off-site.

Application Screenshots

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Solution

  • Client’s high-level process was decomposed into multiple-detailed processes for each unique module such as My Info, Trustees, Guardians, Health Care Agents, Beneficiaries, My Assets, Dashboard, Additional Provisions, Order and Payment, Digital Signatures, etc.
  • All the Standard Trust documents were analysed for interlinking with various scenarios resulting in over 600 dynamic workflows to create a Trust. 
  • In-spite of being a complex system, the UI/UX for both WEB and MOBILE applications (iOS & Android) have been kept keeping in mind the ease of use for an end user belonging to diverse age group – Young, Middle-Aged, and Old Age.
  • Security requirements were met by integrating with DocuSign for Digital Signatures, Encrypted Document Vault, and GoDaddy for Secure Site.
  • For easy and secure online payments, the system was integrated with Stripe payment gateway.

Results

  • The client and end users have been using the system much to their delight with the practicality and intuitive-ness of the application.
  • There has been consistent traction of users on the system as more and more people are becoming aware for the need of a trust and a tool readily available to them.
  • The minimal subscription fee ensures that it is a win-win situation for both an end user and our Client.

Features

  • A User can create a Trust by entering relevant information in various modules in Setup Wizard.
  • 2-way authentication for the users.
  • Dashboard allows user to view all information such as Personal Info, Trustees, Beneficiaries including percentage share for each beneficiary, and Assets.
  • Special Bequests to allow the user to assign personal property item(s) to any specific individual.
  • Subscription Types include Regular and Bundle plans.
  • Option for Trustor to use Promo Code and get discounts.
  • The system allows the user to review the Trust document and proceed to Execute Trust using embedded DocuSign feature.
  • Document is secured with Modern Trust watermark to avoid misuse
  • User can sign and put initials at predefined places highlighted throughout the document.
  • Option for user to view Version History belonging to different documents created in the past.
  • System allows a Trustee to create their own Trust via Trustee Account.
  • System allows a User to become Trustee of multiple Trustor Accounts.
  • A System Administrator has the features to control and manage Modern Trust from backend and thus can view the Dashboard showing the performance of various Metrics and KPIs as per desired goal.
  • Admin can View all the Trustor Accounts details and provide support to the users.
  • As part of Content Management, the Admin can manage the contents in all the Standard Trust Documents and Special Provisions.
  • Admin also has the feature to view all the Emails sent to Modern Trust and Respond via the integrated mail solution.
  • System sends various email notifications for hundreds of events towards Trustor, Trustee and Administrator to keep them informed of important events.