Trustate's newest tool leverages differentiated data from Equifax to give trusts and estates professionals full visibility into the decedent's estate
TAMPA, Fla., Aug. 18, 2022 /PRNewswire-PRWeb/ -- Trustate, the award-winning, female-founded Tampa Bay estate administration startup that uses technology to seamlessly administer estates, today announces the launch of a first-of-its-kind asset and liability decedent discovery tool. The solution is designed to give trusts and estates professionals the accurate and real-time data they need to effectively administer an estate. This launch comes six months after the estate administration disruptor announced an oversubscribed fundraising round led by the international fintech investment firm, Impression Ventures.
Data accuracy is extraordinarily important in estate administration. Incorrect information or overlooking assets and liabilities can not only open estates professionals to liability but can also extend an already time-consuming and emotional process. "Prior to Trustate, the only way to learn what a decedent owned or owed was to sit by the mailbox, or gain access to their email, hoping that you would find a statement of some sort to give you a clue", says COO and co-founder, Tara Faquir. "We wanted to change that antiquated process and arm professionals and their clients with real-time, high-quality data to correctly and efficiently administer an estate."
In 2021, Trustate participated in Equifax Accelerate, a program designed to help software developers create transformative solutions that foster financial inclusion and improve access to services. As one of only 10 finalists accepted into the 2021 Product Studio, Trustate gained access to the Equifax API sandbox and saw first-hand the power of the differentiated data assets only Equifax can provide to assist critical aspects of the Trustate solution. Equifax now supports the identity verification and authentication of an executor, as well as the verification of a decedent's assets and financial obligations through its industry-leading identity and fraud data, consumer credit reporting, and property verification services.
"Trustate's passion for helping families settle the estate of a loved one through the effective use of insights was why we selected the company as a finalist in our Accelerate program," said Joy Wilder Lybeer, Chief Revenue Officer and SVP of Global Partnerships at Equifax. "Their application of our differentiated data helps executors, and their advisors gain faster insight into a decedent's assets and obligations. Through Trustate, we are living out our purpose to help people live their financial best."
In partnership with Equifax, along with Trustate's proprietary technology, Trustate's Trusuite asset and liability tool is helping to solve one of life's biggest challenges: determining what a decedent owned and owed at the time of their death. At the click of a button, trusts and estates professionals now have visibility into a decedent's work history, property history, bankruptcy filings, outstanding loans, closed credit cards, and more. While the data Trustate provides is truly a game-changer, the easy-to-use system is also noteworthy.
"At Trustate, we are taking a long-term approach to solving the many problems inherent in estate administration. Our team has developed a highly sophisticated and secure system on the back end that is extremely easy to use on the front-end, saving users 400 hours on average over the course of an estate administration. We want to empower our users, who range from attorneys, to banks, to wealth managers, to be able to access critical information about their trusts and estates clients in a seamless manner. Our system prompts trusts and estates professionals for basic information about the decedent that they already know, and produces highly detailed, accurate, and secure information in mere seconds," says CEO, co-founder, and former Trusts and Estates attorney, Leah Del Percio.
Trustate's mission is clear: make the lives of trusts and estates professionals and their clients easier by arming them with the correct information, so they know what work needs to be done, and then doing the work for them. Trustate's Trusuite asset and liability discovery tool is available now.
ABOUT TRUSTATE CORPORATION
Trustate is the nation's leading estate administration technology created to ease the burden of estate administration for trusts and estates professionals and the clients they serve. Founded by Leah Del Percio and Tara Faquir in 2020, the technology has saved professionals hundreds of hours in time and thousands of dollars in operational costs. Trustate's offerings are available in all 50 states.
Learn more about Trustate by connecting with us on Facebook, Instagram, and Linkedin. If you are interested in learning more about Trustate's latest product release, you can watch this 2-minute demo video, or schedule time with one of their team members.
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SOURCE Trustate
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