Ethos will and trust review: what you get free with a life policy, and what Ethos does not say

Ethos is a life insurance company, and its will is a perk of its policies, not a product you buy. That one fact explains both what is good about it and what is missing. If you are already buying an Ethos term policy, a will, trust and powers of attorney at no added cost is a real benefit. If you are not, there is no way to buy the will on its own, and Ethos says you should not buy a policy just to get it.

This review covers how the offer works, which policies and states it covers, what the documents are, and the questions Ethos’s pages leave unanswered. Everything here comes from Ethos’s own pages and estate planning terms, read on the date in the facts table. We have not bought an Ethos policy or used the estate planning tool.

How do you get the Ethos will?

Ethos says wills and trusts are Complimentary with certain Ethos life policies (Perks rider). The rider is filed and attached to the underlying policy. Three details from its free-will page:

• New policyholders on eligible policies get it at no additional charge. Ethos names one exclusion: policies through TruStage.
• Existing policyholders Can add the will and estate planning tools at no additional cost.
• It is not sold separately. Ethos’s own words are that it is No: "not a standalone product" and should not be the sole reason to buy life insurance.

That last line is worth taking at face value. Term life insurance is a large, long commitment, priced on your health and the coverage you need. A will is a one-off job that costs nothing at FreeWill and a few hundred dollars at the paid services. Choose your life insurer on the insurance; treat the will as a bonus.

What documents can you make?

Ethos describes Tools to create a will, trust, power of attorney and more, and its estate planning terms list wills, trusts, powers of attorney and advance health care directives. Ethos says the templates are approved by attorneys and produce documents that comply with state-specific law.

That covers the core of an estate plan: a will to name an executor, beneficiaries and a guardian for children; a financial power of attorney and a health care directive in case you are incapacitated; and a revocable living trust if you want to keep assets out of probate.

What Ethos does not publish is the detail: whether the trust can be a joint trust for a couple, whether it includes a pour-over will, or what options the will offers for leaving money to children. The paid services set this out on their plan pages.

Who actually makes the documents?

Ethos provides its wills and trusts through Ethos Estate Planning, LLC, a subsidiary; not a law firm. The estate planning terms add two things worth knowing:

• There is no attorney-client relationship between you and Ethos Estate Planning.
• Ethos says it does not review the documents you create.

That is normal for do-it-yourself estate planning; FreeWill, WillMaker and GoodTrust work the same way. It does mean there is no one to ask. If you want a lawyer within reach, Trust & Will sells an attorney add-on at +$299, and LegalZoom’s Premium plans include a year of attorney consultations.

Which states are excluded?

Ethos’s pages give two different answers:

Ethos page	What it says
Estate planning page	Not available in Alaska or Louisiana; the Perks rider is not available on policies issued in Washington or South Dakota
Free-will page	Not available in Alaska, Louisiana, South Dakota or Washington

The two are reconcilable if you read them as two separate limits: the estate planning service itself does not cover Alaska and Louisiana, and the rider that delivers it for free cannot be attached to policies issued in Washington and South Dakota. Either way, if you live in any of those four states, assume you cannot get the free will through Ethos and ask before relying on it.

Signing an Ethos will

Ethos’s FAQ says you complete the will online, then print and sign it according to your state’s requirements. Its free-will page also says wills must be properly notarised to be valid. That overstates it for most states: a will is normally valid with your signature and two adult witnesses, and the notary is for an optional self-proving affidavit that saves your executor time in probate. Louisiana is the main state that requires a notary for the will itself, and Ethos does not cover Louisiana.

Our page on how to sign an online will explains the steps. Follow the state-specific instructions that come with your Ethos documents, and if they include a self-proving affidavit, use a notary.

What Ethos does not tell you

These are the questions we could not answer from Ethos’s pages:

• What happens if your policy lapses or you cancel it. The terms allow Ethos to end access at any time. Your signed will stays valid regardless, but plan on losing the online account.
• Whether couples can make a joint trust, or whether a spouse who is not the policyholder can use the benefit.
• Whether updates are free and for how long. Ethos says the online tool The online tool "allows for updates as needed", without giving terms.
• Any help funding a trust, such as retitling your house.
• Any online notary option.

None of these makes the Ethos will a bad document. They make it a thinly documented product, which is a reason to download and keep copies of everything as soon as you finish.

Ethos compared with paid estate plans

	Ethos	Trust & Will	Quicken WillMaker & Trust
Price	No added cost with an eligible policy	Will $199; trust $499	Will $109; with trust $149
Without buying insurance	Not available	Yes	Yes
Couples	Not published	$599 for a couple’s trust	No surcharge for immediate family
Attorney option	None	+$299	None
Trust funding help	Not published	Deed transfers $140 per deed, plus recording fees	None
Excluded states	Alaska, Louisiana (see above)	No trusts in Louisiana	Not usable in Louisiana

Should you use the Ethos will?

Use it if:

• You are buying an Ethos term policy for its own sake and do not have a will yet. It costs nothing extra and covers the essentials.
• You are an existing Ethos policyholder; you can add it at no cost.
• You are a parent who needs a guardian named now. A free, properly signed will beats a perfect plan next year.

Pay for a separate plan if:

• You are married and want a joint living trust, or want help moving your house into it: Trust & Will or LegalZoom.
• You want the cheapest complete plan that does not depend on an insurance policy: Quicken WillMaker & Trust, or FreeWill if a will is all you need.
• You live in Alaska or Louisiana.

If you use it, do it in this order

1. Ask during your application whether your policy includes the Perks rider and the estate planning tools.
2. Make your will, health care directive and financial power of attorney first; add a trust if you own a home.
3. Download and save every document outside your Ethos account.
4. Sign the will with two adult witnesses who are not beneficiaries, and a notary if a self-proving affidavit is included.
5. Name beneficiaries on the life policy itself. The payout follows the policy’s beneficiary form, not your will. If your children are young, name your trust or a custodian rather than the children directly.
6. Store the originals safely and tell your executor where they are.