LegalShield

Estate planning and legal benefits are becoming core supplemental benefits offerings. In fact, will preparation and estate planning are the most-requested legal services, according to a recent #LegalShield study. Employee Benefit News takes a look at key findings and shares what’s at stake when employers fail to expand benefits for employees. Take a look 👇

LegalShield welcomes two new executives to the team: Scott Clayton and Dan Lear! Scott will be our Chief Product Officer, delivering enhanced customer experiences to our over 4.5 million members. Dan, serving as our Vice President of Lawyer Services Relations, will oversee our network of 38 provider law firms that support our members across the country. Read more here ➡️ https://lnkd.in/eaK4tyjB

Before you head out to the voting booths, take legal empowerment with you by asking your LegalShield lawyer about your rights! Tap the app to send a request to your provider law firm. Download our LegalShield app today.

Couples are rethinking what it means to protect their future. Today’s prenups cover everything from debt protection and content ownership to pet custody and social media boundaries. #LegalShield can help you create a prenup that lets you step into marriage with confidence. Learn more here 👉 https://bit.ly/3LFkvCu #FamilyLaw #Prenup #FinancialWellness

Bloomberg readers may have caught #LegalShield’s Consumer Stress Legal Index in a recent newsletter. 👀 Our data helps fill the gap for business and economic leaders to forecast what’s impacting Americans – in the short and long term. Want to know what we’re saying? Check it out here: https://bloom.bg/4qsvW0l

The latest Consumer Stress Legal Index (CSLI) findings from #LegalShield paint a concerning picture: 📈 Bankruptcy-related inquiries to LegalShield surged 17% in Q3, up 14% year-over-year 📈 Foreclosure Index increased 28.9% year-over-year 📈 Legal stress climbed for the seventh consecutive month “If the pattern holds, we’re likely to see a significant spike in actual bankruptcy filings in the first quarter of next year,” said Matt Layton, Senior Vice President of Consumer Analytics. This data reflects 150,000+ monthly calls to LegalShield provider law firms—real actions by people, not surveys. LegalShield connects members with provider lawyers who can help before options run out. 🔗 Read the full report and insights here: bit.ly/4hjw9yJ

Clicking the "pay later" option at checkout could start impacting your credit score in the coming weeks. According to Mary Walrath-Holdridge of USA TODAY, FICO has announced that starting in fall 2025, it will begin incorporating Buy Now, Pay Later (BNPL) loans, such as those from Affirm and Afterpay, into its credit scoring model. The consumers most affected? Those relying on BNPL for essential expenses rather than luxury purchases. A recent consumer study by LegalShield found that 47% of BNPL users use these loans to pay for groceries, while 35% rely on them for medical expenses. Read the full USA Today article. ⬇️

According to our recent study, three-fourths of people rely on Buy Now, Pay Later services not only for luxuries, but for essentials. As services continue to grow, it comes with a warning – 45% of BNPL users have faced legal or contractual disputes, with 62% reporting billing errors and 60% forced to pay even after returning items. “We’re hearing story after story of people overextending themselves, juggling payments from various loan companies and banks,” said provider lawyer Rebecca Carter of Friedman, Framme & Thrush. Read more in Fortune: https://bit.ly/4pfIozR

Buy Now, Pay Later services are creating an avalanche of issues for Americans. In a recent survey, #LegalShield found that of those who use BNPL: ▪️45% have faced legal or contractual disputes ▪️49% are missing payments ▪️47% use it for groceries and 35% for medical bills Later this fall, FICO will factor BNPL data into its credit score model, knocking down scores for those who have missed payments. As the legal disputes skyrocket, consumers who feel powerless can reach out to LegalShield for help facing legal and contractual disputes.

According to #LegalShield provider lawyer Wayne Hassay of Maguire Schneider Hassay, LLP, it’s not enough to insure your art, wine, or card collections. He spoke with USA TODAY to highlight how communication is key to carrying your legacy forward. Read the full story below.