“One of the reasons that tech will disrupt the estate industry is because people are looking for ways to streamline the data gathering,” Hartung said. “Fundamental to estate administration is having a inventory of assets.”
“There’s a huge amount of analog processes that are paper-based. So people create spreadsheets and they create binders and engage professionals,” Hartung said. “An executor’s job … is to figure out how it all gets done.”Article content The average estate settlement costs in North America can run a family about $10,000 in fees, Pisanu and Gauthier said.Advertisement 6People pay accountants, lawyers and professionals to help them administer estates, so the founders didn’t have to wrap their heads around what exactly to offer, he said. The concern, rather, was whether people would take to the idea. That concern might have been unfounded. The company has already expanded beyond Canada, into California, Texas and Nevada.