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Nextech3D.AI’s Toggle 3D announces converting power of CAD to POLY now 10x file reduction

Nextech3D.AI

Nextech3D.AI chief product officer Dasha Vdovina joined Steve Darling from Proactive to share news the company has announced that Toggle3D has increased the converting power of its CAD to POLY importer by over 10 times, with the ability to now convert manufacturing files over 1,000mb. Vdovina told Proactive that with these new features, the company can now service much large enterprise clients asking for this solution. The software will now allow clients to use machine learning and computer vision tools to decrease a file by 95%. Contact Details Proactive Investors +1 604-688-8158 na-editorial@proactiveinvestors.com

April 05, 2023 12:10 PM Eastern Daylight Time

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ARway Corp unveils updated SDK 2.3, adding enhanced AI features

ARway

ARway head of product Shadnam Khan joined Steve Darling from Proactive to share news the company has announce the release of ARwayKit SDK Version 2.3. Khan tells Proactive the update enhances the AR experience for users' Video as spatial content in AR, Image Access Points, and Custom Branding Watermarking. Contact Details Proactive Investors Canada +1 604-688-8158 na-editorial@proactiveinvestors.com

April 05, 2023 12:03 PM Eastern Daylight Time

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NexWafe Selected to Present at 2023 NREL Industry Growth Forum

NexWafe

The National Renewable Energy Laboratory (NREL) selected NexWafe as one of its 40 presenters for the 2023 NREL Industry Growth Forum (IGF), chosen from a field of applicants from across the globe. “We are privileged to be among these leading companies as a presenter at this year’s forum,” said Davor Sutija, CEO, NexWafe. “This opportunity for NexWafe will allow our peers and a wide range of investors to hear our story and help us meet the clean energy goals we’ve set forth. We are all out to change the world for the better, and this is a significant enabler.” NexWafe is creating processes to develop and produce high-efficiency monocrystalline silicon wafers directly from inexpensive raw materials, going directly from the gas phase to finished wafers. This unique, patented wafer manufacturing solution significantly reduces production costs, cuts carbon emissions by more than 70 percent when compared to traditional processes and is leading the path to solar cell efficiency of over 30 percent. NexWafe is a member of the Ultra Low-Carbon Solar Alliance, Solar Power Europe, and the European Solar Manufacturing Council. This is the 28 th year of the IGF, which is set for May 1-3 at the Hyatt Regency in downtown Denver, Colorado near the Colorado Convention Center. The forum represents a one-of-a-kind opportunity in the cleantech space and is known as the premier event for cleantech entrepreneurs, investors, and experts from industry and the public sector. It allows them to build relationships, showcase innovative technologies, and identify disruptive business solutions. NREL facilitates connections between cutting-edge startups and motivated investors to drive innovation to market. NREL is the only U.S. federal lab dedicated to renewable energy and energy efficiency research. “This crop of presenters is truly stellar,” Event Manager Sheila Ebbitt said. “They will show the depths the clean energy industry continues to grow, and investors can help them continue the work to change the climate for the better. Startups who attend have the chance to set one-on-one meetings with investors that can help unite both parties in the push to bring new technologies into the market. This is why the Industry Growth Forum makes a difference.” NREL selected this year’s presenters from 189 applicants, ranging from agriculture innovation to grid technology, and come from 29 states and eight countries, including Canada, Germany, and the United Kingdom. More than 150 investors could hold up to more than 1,500 meetings during the two-day event. For more information, including the agenda, participating companies, sponsors, and registration details, visit the NREL Industry Growth Forum website. NREL is the U.S. Department of Energy's primary national laboratory for renewable energy and energy efficiency research and development. NREL is operated for the Energy Department by the Alliance for Sustainable Energy, LLC. About NexWafe GmbH NexWafe GmbH designs, develops and pilots a proprietary process to produce ultra-thin, high efficiency,monocrystalline green solar wafers to make photovoltaics more sustainable and efficient. Fullycompatible with conventional solar cell manufacturing, NexWafe offers a 70% reduction in carbondioxide emissions during manufacturing. NexWafe’s continuous, direct gas-to-wafer manufacturingprocess also minimizes waste, resulting in wafers that are 30% less expensive than conventional wafers.NexWafe’s in-line, ultra-scalable process shatters cost down roadmap barriers and inherently supportsthe industry’s extraordinary growth as the transition to solar power accelerates worldwide. Thecompany was spun out from Fraunhofer Institute for Solar Energy Systems ISE in 2015. For moreinformation, please visit https://www.nexwafe.com and follow us on LinkedIn and Twitter. Contact Details Jenna Beaucage +1 508-340-6851 nexwafe@rainierco.com Company Website https://www.nexwafe.com

April 05, 2023 08:19 AM Eastern Daylight Time

LightMetrics scales globally having improved fleet driver behaviors with intelligent video as it secures $8.5m funding round

LightMetrics

Commercial fleet owners are investing heavily in telematics data to improve road safety concerns, driver well-being and operational efficiencies. It's a marketplace worth $76B today and set to grow to $214B in the next 6 years. However, their insurance claims have been steadily increasing over the past 5 years. Aiming to rebalance this equation, video telematics business LightMetrics is today announcing a $8.5m funding round from Sequoia Capital India, to help telematics service providers adopt video telematics and help fleets become safer. LightMetrics helps telematics service providers (TSPs) by launching their own branded edge AI powered video telematics solution. Its flagship no-code video telematics platform RideView is widely considered the most impactful in the industry. It allows fleets to gain visibility into risky behaviors like distracted driving, tailgating, cell phone usage, overspeeding, stop sign violation, poor lane keeping and fatigue among several others. Intuitive workflows to retrieve videos, recognize good drivers and coach drivers helps fleet managers protect the fleet, improve driver engagement and reduce accidents. With fleets in different verticals and geographies having different needs, RideView offers a choice of dash cameras across price points and capabilities, all supported by the same backend thus creating an uniform user experience no matter the dash camera hardware used. Founded in 2015 by Nokia alumni Soumik Ukil, Ravi Shenoy, Mithun Uliyar, Gururaj Putraya, Pushkar Patwardhan and Krishna A.G, they came together to help make roads safer for everyone. They put their expertise to work in building efficient algorithms for computer vision technology, machine learning and AI by helping people “see how they drive” and coaching drivers to become safer. In 2022, LightMetrics expanded into new geographies and grew revenues 3x. Their technology is now deployed in over 2500 fleets across US, Canada, Mexico, Brazil, Australia, South Africa, Middle East and India. LightMetrics’ video telematics platform RideView’s success and popularity with telematics service providers can be attributed to the significant outcomes they have achieved for customers, including a drop in risky driving behaviors such as speeding and distracted driving by up to 80% and 70% respectively within just a few months of installation. Soumik Ukil, co-founder and CEO of LightMetrics commented: “Our growth and success comes down to the product - having built the preeminent video-based fleet safety platform globally. We will continue to invest deeply in building the most advanced and efficient edge AI, empowering our customer base to deliver this critical technology across the entire fleet ecosystem, and expanding our international footprint.” The video telematics market is forecast to grow from 10% in 2021 to 20% by 2026, at an impressive growth rate of 16.5% CAGR. “Two key factors are driving the growth of this market; a combination of market need and the technology trends coming together. Fleet owners are seeking a single integrated view of all their data to improve safety and operations. Conventionally, while telematics has focused on location tracking, routing, optimal utilization of assets, vehicle maintenance, remote diagnostics, etc., it is clear that the performance of the human driver is critical to running a profitable fleet. Advanced video telematics, enabled by the advances in connectivity, chipsets (computing on the edge) and AI, is the comprehensive solution” said Soumik Ukil. “Our approach, and the adoption of RideView, has created a win-win situation for everyone concerned. Fleets, the end user, benefit from improved safety, better driver engagement and lower insurance premiums. Our customers, the telematics service providers, are able to offer a holistic service to fleet owners with more comprehensive data and analytics around safety.” Ashish Agrawal, MD, Sequoia India commented: “Video telematics is the fastest growing segment of the telematics industry. LightMetrics’ ability to deploy advanced computer vision models on the edge, across a range of dash cameras, enables it to serve all vehicle types in this large market. At Sequoia Capital India, we expect advancements in AI to transform several industries and are excited to partner with LightMetrics on their quest to improve road safety.” “Investing in technology can also drive down insurance premiums for fleet owners. A granular understanding of driver behavior can help underwriting with better risk modeling, and ongoing driver coaching helps insurance carriers reduce loss over time. I am confident that video telematics can help insurance carriers significantly on claims, underwriting and loss control.” said Soumik Ukil. About LightMetrics Founded in 2015, LightMetrics is a video telematics technology business that exists to make roads safer for everyone, everywhere by helping mobility businesses become safer and more productive through a better understanding of driving behavior. LightMetrics works with telematics service providers to adopt video technology in their platforms and hardware to improve road safety outcomes and operational efficiencies. RideView by LightMetrics is their flagship no-code, end-to-end video telematics platform that includes edge AI and camera systems software, cloud backend, REST APIs, dashboards and apps. LightMetrics was recognized by Frost and Sullivan for having the most innovative AI dash camera in North America in 2022. The solution is globally deployed across the US, Canada, Mexico, Brazil, Australia, South Africa, Middle East and India. For more information please visit https://www.lightmetrics.co/ About Sequoia Capital India & Sequoia Capital Southeast Asia Sequoia helps daring founders build legendary companies, from idea to IPO to beyond. Sequoia Capital India and Sequoia Capital Southeast Asia actively partner with founders from a wide range of companies, across categories, including BYJUs, CRED, Druva, Five Star Finance, Freshworks, GoTo, Groww, Kopi Kenangan, Mamaearth, Pine Labs, Polygon, Razorpay, Truecaller, Zomato and more. We spur founders to push the boundaries of what's possible. In partnering with Sequoia, startups benefit from over 50 years of tribal knowledge and lessons learned working with companies like Airbnb, Alibaba, Apple, Dropbox, Google, LinkedIn and Stripe early on. From the beginning universities, endowments, and other non-profits have been the backbone of our investor base which means founders' accomplishments make a meaningful difference. For more information on Sequoia's work in India and Southeast Asia visit www.sequoiacap.com/India and www.sequoiacap.com/sea Contact Details LightMetrics Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.lightmetrics.co/

April 05, 2023 07:00 AM Eastern Daylight Time

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NCMA's Announces New Members to their National Committee

National Contract Management Association

The National Contract Management Association, the leading association dedicated to the advancement and expansion of the contract management profession, announced today the appointment of its new National Committee Members. The new members bring a wealth of experience and expertise in contract management which will further strengthen the association’s strategic direction and growth. "We are thrilled to welcome our new National Committee Members," said NCMA's incoming President, Denyce Carter. "Their extensive experience and diverse backgrounds will be invaluable to our community’s growth and success. We look forward to working closely with them to achieve our goals and provide the best possible education to our community." The National Committee members are seasoned professionals with impressive track records in their respective fields, and all graduates of the Contact Management Leadership Development Program (CMLDP). NCMA welcomes: Audra Charity, Sr. Contracts Administrator, Ball Aerospace & Technologies Corporation, Chapter: Rio Grande Jami Dinsmore, CPCM, Fellow, Sr. Manager Contract Operations, Policy, Training, and Audit at Ball Aerospace & Technologies Corporation, Chapter: Denver Sheralyn Fallon, CFCM, CPCM, Fellow, Sr. Manager of Subcontracts, Massachusetts Institute of Technology Lincoln Laboratory, Chapter: Boston Kerry Hall, Contract Manager, Leidos, Inc., Chapter: North Carolina Kameke Mitchell, Chief of Contracts for the Space Systems Command, Commercial Services Office, Chapter: Tysons Amanda Thompson, CFCM, Fellow, VP of Growth Services at JJR Solutions, Chapter: Dayton National Committees Members can make a lasting impact on NCMA. The Committees are made up of five groups including audit and risk, governance and ethics, member engagement, professional development and certification, and strategic planning. All who have served have played an instrumental role in helping to shape the associations’ strategy and direction. The National Contract Management Association (NCMA), a nonprofit organization founded in 1959 and is the world’s leading association in the field of contract management. With nearly 20,000 members, NCMA is dedicated to promoting excellence in the contract management profession through education, certification, and professional networking opportunities. NCMA strives to serve and inform the profession and industry it represents and to offer opportunities for the open exchange of ideas in neutral forums. To find out more, please visit www.ncmahq.org. Contact Details NCMA Holly DeHesa +1 281-865-3296 holly.dehesa@ncmahq.org Company Website https://www.ncmahq.org/

April 05, 2023 05:00 AM Eastern Daylight Time

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News Release

Wishpond adds to company technology with the launch of new AI-powered Website Builder

Wishpond Technologies Ltd.

Wishpond Technologies CEO Ali Tajskandar joined Steve Darling from Proactive to share news the company has launched another key platform in the form of an AI-powered Website Builder. Tajskandar tells Proactive the Website Builder will make it easier for small businesses and entrepreneurs to build marketing optimized websites within minutes. This is available within the Propel IQ platform and for a limited time is free. Contact Details Proactive Investors +1 604-688-8158 na-editorial@proactiveinvestors.com

April 04, 2023 12:23 PM Eastern Daylight Time

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Ultrack Enters Acquisition Agreement with Successful Medical and Wellness Company

Ultrack Systems, Inc.

McapMediaWire --Ultrack Systems Inc. (OTC: MJLB ), a total fleet-management GPS tracking and monitoring solution provider, is pleased to announce that Ultrack has entered into a formal contractual agreement with Supreme Products to both acquire and market their "Pet Tracker" product which is a wearable GPS device for pets. Notably, Carl Lamonte from Supreme Products will join Ultrack as an Officer of Brand Development Officer Earlier this year Ultrack noted in a release that the Company is actively seeking joint-venture relationships and/or acquisitions within recession proof sectors. Today's announcement is the initial fulfillment of that goal with more planned to come. With years of experience, resources, and relationships within the GPS industry, it makes sense for Ultrack to expand to the developing vertical market of pet tracking hardware and software. Currently, the global pet market is worth roughly $261 billion with the sub "pet care" market coming in at around $79 billion as of 2021. Current forecasters project that the U.S. pet market alone is projected to grow to $325 billion by 2028 with a projected sustained growth of pet ownership up to 14% by 2030. (Source: https://www.hepper.com/pet-industry-statistics-us / ) Ultrack CEO Michael Marsbergen commented: “Pets are big business and Millennials and Gen Z are leading the way for the foreseeable future. We believe that pet ownership and pet care is a recession-proof industry because people are simply not going to give up the things that they truly love, no matter how hard the economy gets hit. I'm delighted that Mr. Carl Lamonte will be joining Ultrack and helping the Company to establish sure footing as a new face and voice for our “Pet Tracker” product." Some of the ways the Company intends to provide a superior device include potential features like: 1. Health monitoring: Monitor a pet's health by tracking their activity levels, heart rate, and other biometric data. This information could be shared with veterinarians or pet owners to identify potential health problems early on. 2. Behavior modification: Modify a pet's behavior by providing real-time feedback on their location and activity level. For example, a device could be set up to alert a pet owner if their dog has strayed too far from home, or if their cat is spending too much time in a certain area. 3. Predictive analytics: Collect data on a pet's behavior and use machine learning algorithms to predict future behavior. This could help pet owners anticipate potential problems and take preventive action. 4. Social media integration: Integration with social media platforms, allowing pet owners to share their pet's location and activity level with friends and family. This could create a community of pet owners who share information and support each other. 5. Virtual fences: Create virtual fences around a pet's home or yard, alerting the pet owner if their pet strays beyond a certain boundary. This could be especially useful for pet owners who live in areas with high levels of traffic or other hazards. Ultrack and Supreme Products are planning a full-orbed marketing plan through multiple strategies including: As technology and AI evolves, the Company will seek for new ways to add more benefits to its line of pet care products. Investors can anticipate updates moving forward regarding details of the development and deployment of the new "Pet Tracker" product. Furthermore, the details of the contract with Supreme Products involves a marketing partnership to bring appropriate exposure to the new Pet Tracker product. These initiatives include but are not limited to: 1. Social media advertising: Social media platforms such as Facebook and Instagram offer targeted advertising options that allow businesses to reach pet owners directly, especially young pet owners. 2. Influencer marketing: Partnering with influencers in the pet industry can be an effective way to reach a wider audience. 3. Pet store partnerships: Starting with pet stores in Canada and established relationship, the Company believes this strategy will be well-received and well-rewarded. 4. Trade shows and events: The Company is looking ahead to three of the largest North American pet-focused trade shows in which to have a meaningful presence. The Company invites current and future shareholders to check back regularly at our website http://ultrack.ca, Facebook page: https://www.facebook.com/UltrackSolutions and Twitter page: https://twitter.com/ultracki About MJLB: Located in Concord, Ontario, Ultrack Systems Inc., ( www.ultrack.ca ) is a publicly traded company listed on the OTCMARKETS under the MJLB trading symbol. Ultrack Systems Inc., is a provider of GPS tracking solutions. We develop, implement, and distribute electronic monitoring and tracking systems for companies in leasing, transportation, construction, disposal, and many other services driven industries. Our platform includes live tracking, reports, and alerts on a web-based platform. Our mission is to provide the best fleet tracking, reporting systems and our commitment to service. The Company plans to launch a new ELD product in 2023 in partnership with major corporations that will take the trucking industry by storm. Safe Harbor Statement: This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release, including such forward-looking statements. Michael Stephen Marsbergen Ultrack Sytems Inc. +1 800-893-9506 sales@ultrack.ca Visit us on social media: Facebook Twitter Contact Details Ultrack Sytems Inc. sales@ultrack.ca Company Website http://ultrack.ca/

April 04, 2023 09:00 AM Eastern Daylight Time

Legal Tech Disruptors vLex and Fastcase Merge to Form World’s Largest Global Law Library

vLex Group

vLex and Fastcase, two of the largest, fastest-growing legal technology companies, announced today that they are merging to form the world’s largest law firm subscriber base with more than one billion legal documents from more than 100 countries. As part of the merger, Oakley Capital and Bain Capital Credit are investing in the combined business to expand its global reach and accelerate the company’s legal artificial intelligence (AI) lab, which develops AI tools that streamline research, tracking, writing, and filing documents for the legal industry. “The legal profession has been a late adopter of technology, but lawyers are gaining more of an appetite for artificial intelligence tools in recent years,” said vLex CEO Lluís Faus. “Bringing these two highly successful businesses together will help democratize the law for legal professionals worldwide through a dynamic and robust platform that improves legal research accuracy, efficiency, and affordability.” The new combined entity will be called vLex Group, and its products will retain the name of vLex in global markets and Fastcase in the U.S. The company, which has offices in the United States, Europe, the U.K., Asia, and Latin America, will combine management teams and invest in unified global products based on the complementary strengths of both firms. It will maintain headquarters offices in Washington, D.C., Miami, and Barcelona. JEGI CLARITY ( www.jegiclarity.com ), a leading M&A advisory firm for the legal, media, marketing, information and technology industries, represented Fastcase in this transaction. Each company has been a disruptive innovator in highly consolidated markets for legal information and will offer unprecedented scale in legal tech, including the following: The new company will reach the majority of lawyers in the U.S. (~1.1 million subscribers out of 1.3 million lawyers in the U.S.) in partnership with state bar associations, and include legal materials from more than 100 countries around the world. The combined library contains over one billion legal documents, including judicial opinions, statutes, regulations, court rules, docket sheets, briefs, pleadings, motions, authored treatises, and legal news articles. vLex’s AI tools for law were named “Overall Legal Research Solution Provider of the Year” in the 2022 LegalTech Breakthrough Awards Program. Fastcase has twice been named New Product of the Year by the American Association of Law Libraries. “Our missions could not be more aligned, and by combining two of the world’s most successful legal technology disruptors, we are bringing much-needed innovation to an industry ready for a scaled alternative,” said Fastcase President Phil Rosenthal. “With both companies having more than 20 years of organic growth, the strategic support and financial backing of Oakley Capital and Bain Capital Credit will dramatically accelerate our work. Our goal is to be the most frequently used, comprehensive, and trustworthy resource for law firms of all sizes, in any part of the world.” Large Language Models (LLM) and Law News of the merger comes when competing large language models, such as OpenAI’s GPT-4 and Google’s Bard, create a more competitive market for generative AI. “With the rapid proliferation of LLM models, we are in a new era where content is king,” said Fastcase CEO Ed Walters. “With the merger of vLex and Fastcase, nobody has a more extensive global law library than we do. This is the biggest legal data corpus ever assembled, including highly valuable structured data with industry-standard tags and analytics. The combined library is the crown jewel of LLMs and the ultimate training data set for legal AI.” The companies are not newcomers to legal AI. vLex created one of the first AI assistants for legal research, called Vincent. It has long used an internal AI tool called Iceberg to generate structure in its own data and for law firms. Fastcase’s Docket Alarm product is one of the first legal tech companies to integrate OpenAI’s GPT-3.5, and both Fastcase and Docket Alarm use AI to create structure and tags in legal documents. The companies will use their combined financial strength to accelerate growth and to invest more in the frontiers of artificial intelligence in law. About vLex vLex is a global legal intelligence platform that provides legal professionals with access to the most extensive collection of legal and regulatory information worldwide, all on one award-winning and unique platform. The company utilizes cutting-edge technology, including artificial intelligence and data analytics, to help millions of users access the most relevant and accurate information. For more information about vLex, visit @vLex on Twitter or at www.vlex.com. About Fastcase Fastcase is a comprehensive legal intelligence company founded in 1999 and based in Washington, D.C. Partnering with the bar associations of all 50 states and the District of Columbia, Fastcase serves more than 1.1 million lawyers worldwide. The company provides an innovative research suite of primary law, dockets, treatises, legal blogs, analytics, workflow tools, and legal news. For more information about Fastcase’s legal tools, visit the company on Twitter at @Fastcase or visit www.fastcase.com. About Oakley Capital Oakley Capital is the partner of choice for entrepreneurs and management teams with the ambition to build successful, global businesses. With a diverse team of over 140 professionals across five locations including London, Munich and Milan, the firm backs high-growth, mid-market companies across Europe. It has deep sector-expertise across Technology, Consumer and Education and a track-record of supporting businesses accelerating their growth with proven value creation strategies, including M&A, digitization, talent management and internationalization. Its unique origination capabilities help unearth attractive investment opportunities yielding consistently strong returns for all stakeholders. To date, the firm has delivered gross realized returns of 4x MM and 67% IRR across all funds. In 2023, Oakley raised a record €2.85 billion for Oakley Capital Fund V, bringing their total AUM to €8 billion. About Bain Capital Credit Bain Capital Credit is a leading global credit specialist with approximately $42 billion in assets under management. Bain Capital Credit invests across the credit spectrum and in credit‐related strategies, including leveraged loans, high‐yield bonds, structured products, private middle market loans, bespoke capital solutions, distressed securities and assets, non‐performing loans, hard assets and equities. Our team of more than 95 investment professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital Credit invests across asset classes including private equity, public equity, venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus. Bain Capital Credit's dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $150 million located in North America, Europe and Asia Pacific. Our dedicated global team affords us the ability to diligence the most complex situations and provide private capital to those companies. Contact Details vLex Group Mike Adorno madorno@hotpaperlantern.com

April 04, 2023 08:45 AM Eastern Daylight Time

Trust & Will’s Annual Millennial Study Examines Impact of Economic Uncertainty on Estate Planning

Trust & Will

Trust & Will, the leading digital estate planning platform in the U.S., releases the findings of its third annual millennial estate planning study, providing insight from more than 20,000 millennials on end-of-life planning preferences. Amidst rising mortgage rates and inflation, millennials are concerned about their ability to build and pass on wealth to future generations. Key findings from the 2023 Annual Study, " Millennials and Estate Planning During a Time of Economic Uncertainty," include: 45% of millennials said the housing crisis would impact their ability to pass on their wealth 78% percent of millennials said that building multigenerational wealth is essential to them 74% of Millennials appointed a digital executor in their estate plans to handle their online affairs and social media accounts Millennials are 29% more likely than older cohorts to want their emails, direct messages, and texts kept private from their family 71% of the pet owners in our cohort assigned a guardian for their animal in their estate plan Planned Parenthood was the most popular charity for bequests, followed by St Jude Children’s Research Hospital and The Trevor Project The recent economic turmoil has had a significant impact on millennials’ ability to build and transfer wealth. Nearly half (44%) of those surveyed said that the housing crisis and rising mortgage rates had prevented them from buying property, and 45% said it would impact their ability to pass on their wealth. The majority of millennials consider multi-generational wealth building as important (78%), whereas less than half of older generations (45%) consider it important. Meanwhile, 56% of millennials expect to receive an inheritance in their lifetime, but very few (11.5%) said they rely on an inheritance as part of their financial planning. “The past year has been tumultuous for many, and we’re seeing the effects on millennial mindsets when it comes to estate planning,” said Cody Barbo, Founder, and CEO of Trust & Will. "However, we also are seeing a shift in this generation’s ability to overcome financial obstacles and stay true to the things that mean the most to them, like giving to charity or reducing carbon through eco-friendly burials. Even in times of great uncertainty and fear, millennials are taking control of their financial futures by creating estate plans at a higher rate than any other generation.” A growing number of millennials are opting for ‘alternative burials’, which can include human composting, and tree pods. Cremation remains the most popular choice (51%), followed by traditional burial (22%), but a rising number of millennials prefer to donate their body to science (13%). This aligns closely with the majority of millennials opting to be organ donors (81%). Millennials are more likely to donate to charity, even if their net worth is relatively low. In fact, there is a direct correlation between the two, with 67% of millennials with net worths of $50,000 or less opting to donate, compared to 25% of millennials with higher net worths of $50,000-$125,000. The average bequest is $22,257. Consistent with previous years, the primary motivator to create an estate plan is having a child (31%), followed by buying a home (10%), instructions from a financial advisor (9%), or a death in the family (8%). For the full findings and to download a copy of the report, visit trustandwill.com/millennials. Methodology Trust & Will analyzed proprietary data from 23,979 individuals, 7,832 of whom were aged 25-44, to explore specific insights and behaviors of the millennial generation regarding estate planning. Trust & Will revisits this data each year to see how trends and behaviors among millennials continue to change over time. ABOUT TRUST & WILL Trust & Will is simplifying estate planning and settlement with attorney-approved, legally valid documents and processes designed to adhere to individual state guidelines. Since 2017, we’ve helped hundreds of thousands of Trust & Will members leave their legacy with an affordable way to create an estate plan or settle the estate of a loved one. Our platform uses bank-level encryption that protects customer data and complies with the highest security standards, including SOC 2 and HIPAA. Trust & Will is the official estate planning benefit provider for AARP members, along with several leading financial institutions, who all believe in our mission of helping every family leave their legacy. To learn more, visit trustandwill.com. Contact Details Trust & Will Danielle Nuzzo danielle@trustandwill.com Company Website https://trustandwill.com

April 04, 2023 07:05 AM Eastern Daylight Time

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