StashAway acquires MakeGoodwill to expand legacy planning

StashAway today announced it has acquired MakeGoodwill, a Singapore-based digital wills platform where people can create a will online in about an hour. The acquisition enables StashAway to support clients across more of their financial lives, from building wealth to protecting it for those they care about. MakeGoodwill continues to operate as a standalone brand.

With a will, Singapore residents choose who inherits their assets, rather than letting the law decide, reducing uncertainty for loved ones at a difficult time. Yet only 22% of Singaporeans have a legally drafted will (YouGov study). The same gap shows up among people actively building wealth: three in four StashAway clients surveyed had no will in place. Among those who did, over 40% said theirs was out of date.

More than 8 in 10 cited barriers such as procrastination, the time involved, or uncertainty over what a will should include. But people want to take action: 9 in 10 said they would create a will within three months if the process were simpler. MakeGoodwill closes that gap: clients answer guided questions in plain language and complete their will online in about an hour.

“Our clients spend years building wealth for a better future, often with their families in mind. Yet many never plan how to protect that wealth and pass it on,” said Michele Ferrario, Co-founder and CEO of StashAway. “Bringing MakeGoodwill into StashAway means we can support clients through some of their most important financial decisions, from investing to planning their legacy.”

A will designed around Singapore law

Over 1,100 wills have been created on MakeGoodwill since launch. Each will is generated using a template developed by Singapore lawyers and designed to comply with Singapore law. To make their will legally valid, clients print and sign it in the presence of two independent witnesses.

“The best products cut through complexity and make things simple enough to act on. We started Goodwill so anyone could create a legally valid estate plan in minutes instead of putting it off for years. StashAway shares that belief in using technology to make financial experiences simpler and more human, and I'm excited to see Goodwill's mission continue as part of StashAway,” said Priya Surya, Founder of Goodwill (now MakeGoodwill).

Creating a will through MakeGoodwill costs SGD179  ($140), compared with the SGD 500 ($390) to SGD 1,500 ($1,170)   typically charged by traditional law firms. Client support comes at no extra cost, with questions answered within 24 hours on working days.

Every will includes one year of unlimited edits, secure lifetime access to the completed documents, and a 30-day money-back guarantee. After the first year, clients can subscribe for SGD 35 ($27) a year to keep editing their will as family, assets, or circumstances change. Couples can also add a second will for 50% off, at SGD 89.50 ($70).

Since launching in 2017, StashAway has focused on empowering people to build long-term wealth. Today, clients can manage their cash, invest in expert-built portfolios, DIY with ETFs, and access alternatives including private markets on StashAway. MakeGoodwill marks StashAway’s first expansion beyond wealth building into legacy planning.

 Re-disseminated by Wealth and Society