Wills and Vision: Meet the Minds Behind Safewill

Safewill was founded in 2019 by CEO Adam Lubofsky and Dan Bennett, aiming to modernize estate planning in Australia. 

Adam Lubofsky

Adam graduated with first-class honors in Law and Commerce from Monash University, where he achieved a High Distinction average and was awarded the Monash Global Mobility Scholarship for academic excellence. Before founding Safewill in 2019, he honed his strategic skills as a consultant at the Boston Consulting Group and KPMG Australia and gained legal experience at firms like MinterEllison and Herbert Smith Freehills. (Adam Lubofsky)

Dan Bennett

With over 25 years of experience, Dan has built a reputation as a founder, investor, and connector. He earned an LLB in Finance from UNSW, which provided a foundation for his later ventures. Dan has held leadership roles across multiple sectors, including co-founding Salus Ventures, a venture capital firm that invests in mission-driven startups addressing critical challenges. His roles as an investor and board observer for various innovative companies, such as Visionary Machines and ExoFlare, reflect his keen eye for potential and his commitment to supporting transformative ideas. (Dan Bennett)

The Founding story

The founding of Safewill stems from the shared vision of making wills and end-of-life services fairer and more accessible. Observing how traditional systems failed to meet modern needs, Adam and Dan sought to blend innovation with empathy, enabling people to navigate sensitive life moments with ease. Their combined expertise in strategy, law, and business development laid a solid foundation for Safewill, turning a personal mission into a transformative force within the industry.

The Will of the Market: How Digital Solutions Are Changing the Game

The digital estate planning market is experiencing significant growth, driven by increasing awareness of the importance of managing digital assets and the convenience of online platforms. In 2023, the global digital estate planning services market was valued at approximately USD 246 billion and is projected to reach USD 350 billion by 2032, reflecting a compound annual growth rate (CAGR) of nearly 6% between 2024 and 2032. (Zion Market Research)

This growth is influenced by several factors, including the rising number of high-net-worth individuals seeking to protect their assets and the aging population’s need for efficient estate planning solutions. The COVID-19 pandemic has also heightened awareness about the necessity of estate planning, leading to increased demand for digital services that offer convenience and accessibility.

Technological advancements have played a crucial role in this market expansion. The development of user-friendly online platforms and digital tools has made estate planning more accessible to a broader audience, including younger generations who prefer digital solutions. These platforms often provide comprehensive services, such as will creation, trust management, and digital legacy services, catering to diverse client needs.

Regionally, North America holds a significant share of the digital estate planning market, attributed to its advanced technological infrastructure and higher awareness levels. However, Europe is expected to register the fastest growth rate during the forecast period, driven by strict data protection regulations and the introduction of innovative service offerings in countries like the UK, France, and Germany.

Safeguarding Legacies: What Drives Safewill’s Mission and Model

Mission and Vision

Safewill’s mission is to modernize end-of-life preparation, ensuring that all Australians can safeguard their assets and provide for their loved ones without the complexities and high costs traditionally associated with will creation. The company’s vision is to simplify and democratize estate planning, making it a seamless part of life for everyone, regardless of age or financial status. By leveraging technology, Safewill aims to transform the way people approach end-of-life planning, integrating it effortlessly into their lives.

Problems They Solve

Safewill addresses several problems inherent in traditional estate planning. Conventional methods often involve complex legal jargon, high costs, and time-consuming processes, which can deter individuals from drafting a will. This can lead to families facing legal complications and financial strain when a loved one passes away without a valid will. Safewill’s online platform demystifies the process, offering a guided, step-by-step approach that is both affordable and accessible.

Business Model

The company’s business model centers around providing digital estate planning services directly to consumers. Users can create legally binding wills online, which are then reviewed by legal professionals to ensure compliance and accuracy. Safewill also offers additional services, such as Enduring Powers of Attorney and Enduring Guardianship documents, allowing individuals to appoint trusted persons for financial and medical decisions. A subscription-based digital vault is available for secure storage of important documents, facilitating easy access for executors when needed.

Where There’s a Will, There’s a Way: Exploring Safewill’s Toolkit

Safewill offers a comprehensive suite of estate planning services designed to make legal processes simple, accessible, and affordable. From drafting Wills to handling Probate and Power of Attorney, Safewill ensures peace of mind with transparent pricing, expert support, and tailored solutions.

Online Will Creation Made Easy

Safewill enables individuals to create legally sound Wills online in less than 20 minutes. The platform provides a guided process where users answer simple questions tailored by Australian lawyers. The Wills are reviewed by a legal team to ensure accuracy and compliance with legal standards. Options include:

• Essentials Will: Suitable for simple estates, priced at $160 AUD.
• Customised Will: Designed for complex requirements, with features like bespoke drafting and legal advice, available for $359 AUD​.

Power of Attorney Services

Through Safewill, you can appoint trusted individuals to make decisions on your behalf when you’re unable to. This includes financial, legal, medical, and lifestyle decisions. Safewill’s Power of Attorney services emphasize simplicity and control, ensuring that your preferences are respected even in challenging times. The platform provides detailed information on:

• The difference between General and Enduring Powers of Attorney.
• Steps to limit or customize decision-making authority​.

Probate Services

Safewill Legal offers fixed-fee Probate services to assist executors in navigating the complexities of estate administration. Their managed service covers:

• Preparing and lodging required legal documents.
• Liaising with the Court on behalf of the executor.
• Publishing necessary notices.
• Providing a checklist to guide executors through their responsibilities.

For a fixed price of $990 AUD in Queensland or $1980 AUD in other jurisdictions, Safewill eliminates the need for percentage-based fees traditionally charged by lawyers​.

Letters of Administration

For estates without a Will, Safewill simplifies the process of obtaining Letters of Administration. The service includes:

• Expert consultation to assess specific cases.
• Preparation and lodgement of legal documents.
• Handling communication with the Court.
• Providing actionable next steps after securing the grant.

With transparent pricing at $1980 AUD, Safewill ensures accessibility without compromising quality​.

Legal Advice

If you need legal advice for your Will or estate planning, Safewill offers consultations with experienced Wills and Estate lawyers. This service is ideal for individuals with complex circumstances or those requiring tailored legal input. You can easily book a call after selecting this option during checkout​.

Why Choose Safewill?

Safewill stands out for its customer-centric approach:

• Flat Fees, No Surprises: Clear, fixed pricing ensures you know exactly what you’re paying.
• Expert Backing: Every service is supported by Safewill Legal, an award-winning law firm specializing in Wills and Estates.
• Security: The platform uses military-grade encryption to protect personal data​

Leaving a Mark: Safewill’s Impact and Accolades

Safewill has had a notable impact on the estate planning market in Australia. Since its inception in 2019, the company has facilitated the creation of over 150,000 wills, making estate planning more accessible and affordable for Australians. (The Australian)

Beyond individual users, Safewill has significantly contributed to philanthropy in Australia. The company has partnered with over 250 charities, facilitating charitable bequests through its services. This initiative has led to over $650 million pledged to charities, demonstrating Safewill’s role in enabling users to leave lasting legacies that benefit society.

Safewill’s innovative approach has garnered recognition within the industry. The company’s affiliate law firm, Safewill Legal, has been described as an “award-winning” practice, highlighting the quality and reliability of the legal services associated with the platform. (SafeWill)

In addition to charity collaborations, Safewill has partnered with legal firms to ensure the quality and legality of its services. For instance, Maurice Blackburn, a prominent Australian law firm, has engaged Safewill to support union members by providing will-writing services. This partnership combines Safewill’s digital platform with Maurice Blackburn’s legal expertise, offering accessible and legally sound estate planning solutions. (Maurice Blackburn)

Safewill also collaborates with various organizations to offer exclusive benefits to their supporters. For example, the Animal Welfare League NSW partnered with Safewill to provide a 50% discount on will-writing services to its supporters. This initiative encourages individuals to create wills while considering leaving a legacy to support animal welfare. (AWL NSW)

Banking on the Future: Safewill’s Financial Journey

Safewill has raised a total of $17.7 million in equity funding across three successful rounds. With participation from 11 investors, including six institutional firms and five angel investors, the company has built a solid foundation for sustainable growth. The funding has allowed the company to grow its innovative digital estate planning platform and expand its reach across Australia.

In the most recent Series B funding round, held on November 25, 2024, Safewill secured $11 million. This round saw participation from several prominent institutional investors, including Reinventure Group, King River Capital, Carthona Capital, and Flying Fox Ventures. Additionally, key angel investors such as Larry Diamond (founder of Zip), Alex Vynokur (Betashares founder), Ilan Israelstam, Geoff Lloyd, and Chris Cuffe contributed to the funding. 

Prior to this, Safewill conducted two Series A rounds. On May 4, 2023, the company raised $3.7 million with institutional investors such as Carthona Capital, Reinventure Group, and Flying Fox Ventures continuing their support. 

The first Series A round, held on October 22, 2021, brought in $3 million. This round was supported by Westpac, one of Australia’s leading financial institutions. The backing of a major corporate player provided Safewill with the resources to strengthen its technology and establish itself as a key player in the digital estate planning market.

The Power of Will: How Safewill Inspires Action and Legacy

Safewill is transforming estate planning with its modern, tech-driven approach. Their platform allows Australians to create legally binding wills online in under 20 minutes. Users answer simple questions, and the platform generates customized wills tailored to their needs. Every document undergoes legal review by Safewill Legal, ensuring compliance with Australian laws. The process is affordable, transparent, and stress-free.

Beyond wills, Safewill offers tools for creating Enduring Powers of Attorney and Guardianship documents. These services allow individuals to appoint trusted decision-makers for financial and medical matters. A secure digital vault also lets users store important documents, making them easily accessible to loved ones when needed.

The platform operates with a user-first mindset, prioritizing simplicity and security. Safewill uses encryption to protect personal data and cloud-based technology for seamless operations. By combining technology with expert legal support, Safewill eliminates the complexity of traditional estate planning.If you’re curious about how startups like Safewill disrupt industries, explore other articles on Venture Kites. You’ll find stories of businesses redefining the status quo.