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Tag: Estate Planning

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Healthcare vs. Financial Power of Attorney: Why Both Matter in Your Estate Plan

Not all critical roles in estate planning wait until death to take effect. Two key documents—the Healthcare Power of Attorney (sometimes called a Health Care Proxy or Advance Directive) and the Durable Financial Power of Attorney—let you appoint an agent to act on your behalf during your lifetime. While you are capable, you remain in control of your own decisions. If you become incapacitated, your chosen agent steps in to make healthcare or financial decisions as outlined in the document.

What is a Healthcare Power of Attorney?

A Healthcare Power of Attorney is a legal document that authorizes a chosen individual, called a Healthcare Agent (or Health Care Proxy in some states), to make medical decisions if a person is unable to do so themselves. These can include decisions about treatments, surgeries, and even life-sustaining measures like ventilation or feeding tubes. Many states also require that the document include HIPAA authorization so the Healthcare Agent can access medical records.

The COVID-19 pandemic brought renewed awareness to the importance of this document and the Healthcare Agent’s role. In scenarios where patients were sedated or placed on ventilators, decisions about care often fell to Healthcare Agents, highlighting the real-world impact of having this designation in place.

What is a Durable Financial Power of Attorney?

A Durable Financial Power of Attorney is a legal document that authorizes a chosen individual, called a Financial Agent or Attorney-in-Fact, to manage financial affairs immediately upon signing. Unlike a standard power of attorney, it remains valid even if the individual later becomes incapacitated. This could include:

  • Paying bills and managing accounts
  • Handling investments
  • Managing property
  • Working with tax professionals or attorneys on the individual’s behalf

This authority automatically ends at death, at which point the Executor (also called a Personal Representative) assumes control.

For an aging population, this document—and the Financial Agent appointed under it—are critical to protecting assets and preventing financial mismanagement or exploitation. Without formal authorization, even close family members might not have the legal ability to act, risking unpaid expenses or frozen accounts when it matters most.

Can One Person Serve Both Roles?

Often, yes. The same person can serve as both Healthcare Agent (appointed under a Healthcare Power of Attorney) and Financial Agent (appointed under a Durable Financial Power of Attorney). However, it’s important to assess whether the individual has the skills—and emotional capacity—to handle both responsibilities effectively. If separate individuals are appointed, it’s wise to ensure they can collaborate, especially since medical decisions often have financial implications.

Who May Not Be the Best Candidates for These Roles?

Not everyone is an ideal choice. For example:

  • Minors and convicted felons are often legally restricted from serving
  • A healthcare agent generally cannot be the operator of a facility currently providing treatment unless they are related to the patient by blood, marriage, or adoption
  • Someone with a history of financial mismanagement may not be the strongest candidate for a financial role

Why Thoughtful Planning is Key

Assigning these roles requires more than picking someone “close.” It requires trust, clarity, and consideration of each person’s qualifications. When these decisions are left unmade, families can face legal barriers, confusion, or conflicts during already difficult times.

OneDigitalTrust equips financial institutions, advisors, and banks with tools to help clients formally assign these roles, supported by educational resources and step-by-step guidance. With our platform, these essential roles aren’t just names on a document—they’re informed decisions that provide clarity when it matters most.

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Why Choosing the Right Executor Matters

When creating an estate plan, much of the focus tends to be on “who gets what.” But just as critical is who makes it all happen. That’s the role of the Executor—the person (or institution) appointed in a Will to administer an estate after someone passes.

The choice of Executor carries significant weight. Not only are they responsible for carrying out the terms of the Will, but they must also navigate the probate process, settle debts, and manage relationships among heirs. For families, this can be a sensitive and emotional time, making the right Executor essential to minimizing conflict and ensuring a smooth settlement.

What Does an Executor Do?

The process usually starts when the nominated Executor files the Will and a petition for probate with the court. If approved, the court issues “letters testamentary” authorizing them to act.

Once officially appointed, an Executor’s duties typically include:

  • Notifying beneficiaries and potential heirs
  • Notifying known creditors and publishing notice to unknown creditors, as required by law
  • Collecting, inventorying, and valuing assets (courts often require a formal inventory and appraisal)
  • Paying outstanding debts, taxes, and final expenses (including obtaining an estate tax ID number and filing any required tax returns)
  • Managing and distributing assets according to the Will
  • Closing accounts and wrapping up the estate

Beyond paperwork, the Executor becomes the family’s point person—fielding questions, managing emotions, and keeping things on track. In families with existing conflicts, the right Executor can be the difference between a smooth process and ongoing disputes.

The role can also take months or even years, especially with complex estates or unique assets like businesses or property in multiple states (which may require ancillary probate in those jurisdictions). Beneficiaries may get impatient, so the Executor needs the time, patience, and commitment to see it through.

Who Should Serve as Executor?

While many people appoint a family member or close friend, it’s important to consider:

  • Financial savvy: Executors often handle complex financial tasks. Someone who struggles with finances may not be the ideal choice.
  • Location: If an Executor lives out of state, they may face logistical challenges depending on the jurisdiction. Some states require out-of-state Executors to appoint an in-state agent or post a bond, and a few restrict nonresidents unless they’re close relatives.
  • Family dynamics: Old rivalries or personal biases can make an otherwise well-intentioned choice problematic.

In some cases, families may choose to appoint a third-party or institutional Executor, such as a bank or trust company, particularly when estates are large or family dynamics are complex. All Executors—whether individual or institutional—must be appointed by the probate court, and corporate fiduciaries must also be authorized under state law. These entities typically charge a fee, which is often a percentage of the estate, and their appointment may require court approval depending on state laws.

A Critical but Often Overlooked Decision

Choosing an Executor isn’t just a formality. It’s a decision that shapes how an estate plan is executed in real life. And yet, it’s one of the most overlooked aspects of estate planning.

At OneDigitalTrust, our estate planning platform helps individuals name an Executor with guidance along the way. For financial institutions, wealth advisors, and credit unions, we can help provide their clients with the tools to prepare these critical decisions—helping ensure estates are settled promptly and with care.

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Rethinking Financial Education in a Digital World

Financial literacy is evolving. It’s no longer confined to in-person seminars, dense brochures, or scheduled advisor meetings. Today, consumers (especially Gen Z and Millennials) are learning in short bursts, through interactive content, on their own time. They turn to TikTok explainers for quick breakdowns, YouTube walkthroughs for how-to knowledge, and Reddit threads for shared experiences. They’re not waiting to be taught; they’re already learning.

This shift has transformed the role of financial tools. It’s not enough to simply offer functionality. To truly serve today’s consumers, platforms must teach while they guide, helping users understand what they’re doing and why it matters.

Estate planning is no exception.

Many individuals know it’s important, but don’t understand where to start. Or worse, they avoid it entirely because the process seems overwhelming. That’s why OneDigitalTrust was built not just as an estate planning platform, but as an educational experience that meets people where they are: online, curious, and ready to learn. 

How OneDigitalTrust Builds Financial Literacy Into Every Step

At OneDigitalTrust, we believe education should be woven directly into the planning experience. Users don’t need to pause or search elsewhere—they get the information they need in the moment, with in-context explanations and interactive support that reinforce understanding as they go.

Here’s how we make it happen:

1. On-Page Help Throughout the Planning Journey

Estate planning includes terms and decisions most people aren’t familiar with—like naming executors, understanding how to divide an estate, or knowing what a revocable trust really means.

Instead of sending users to a separate help center, OneDigitalTrust provides On-Page Help that’s integrated into the flow of the platform. When a user encounters a question—like how to handle unequal asset distribution or who should be appointed as power of attorney—clear explanations can be navigated to on the right side of the page.

This guidance is written in plain language, and includes expandable dropdowns to go deeper when users want more context.

2. Embedded Educational Videos to Support Decision-Making

In addition to written guidance, OneDigitalTrust includes short video tutorials placed directly within the estate plan creation process. These videos walk users through key topics—like nominating people for key roles—so they can understand both the task at hand and the bigger-picture implications.

It’s not just about getting the document done—it’s about making informed, confident decisions along the way.

3. Estate IQ Quizzes: Turning Knowledge Into Confidence

OneDigitalTrust also offers interactive Estate IQ quizzes to help reinforce key concepts. These short, scenario-based quizzes cover foundational topics like:

  • Key concepts on the distribution of assets
  • Understanding Probate
  • Key differences between a Last Will and a Living Trust

Each quiz is designed to take between 5-15 minutes and helps highlight areas where users can test their knowledge, as well as where they may want to learn more. Results contribute to a personalized Estate IQ score, giving users a sense of progress and confidence over time.

For Financial Institutions and Advisors, Education = Engagement

For credit unions, banks, and financial advisors, education isn’t just a value-add—it’s a trust builder. Consumers are more likely to engage with tools they understand, and more likely to stick with institutions that empower them to learn and grow.

By offering OneDigitalTrust as part of your client experience, you’re not just helping someone create a will. You’re helping them understand why it matters. That turns a transactional interaction into a meaningful, lasting relationship.

And because the platform includes built-in education, advisors don’t have to answer every question directly. The platform does the heavy lifting so conversations can go deeper, faster, and more confidently.

Learning as a Feature, Not a Barrier

Financial education doesn’t have to slow people down. When it’s embedded naturally—through on-page help, short videos, quick quizzes—it empowers people to take action with clarity.

Estate planning is one of the most important things a person can do for their future and their family. With OneDigitalTrust—branded or co-branded by their trusted financial institution or advisor—they don’t just get it done. They understand what they’re doing, and they’ll remember who helped them do it right.

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What Happens If You Die Without a Will—And How OneDigitalTrust Helps You Avoid It

Estate planning isn’t just for the ultra-wealthy—it’s for anyone who wants to ensure their wishes are known, and their family isn’t left guessing. But what happens when someone passes away without a will?

Dying without a will (known legally as “dying intestate”) means state law decides who inherits your assets. That often leads to confusion, delays, and outcomes that may be far from what you wanted.

When the Law Doesn’t See the Full Picture

Modern families are diverse. Many people live with long-term partners, raise children from previous relationships, or have close ties with friends and chosen family. But most inheritance laws still prioritize marriage and blood relation, often leaving important relationships unrecognized. Those closest to someone may end up with nothing.

People with fewer resources—especially in underserved communities—are also less likely to have wills. Barriers include cost, limited access to attorneys, procrastination, or thinking they don’t own enough to make it worthwhile. Yet even modest estates, like a car or savings account, can be difficult to manage without a plan.

Here are a few real-world scenarios that highlight just how complicated things can get when there’s no will in place:

The Unmarried Partner Left Behind

Lena and Greg had been together for over a decade. They shared a home, a dog, and joint finances—but weren’t legally married. When Greg passed unexpectedly, Lena assumed she’d be able to manage things. But because Greg didn’t leave a will, state law didn’t recognize their relationship. Greg’s estranged parents became the legal heirs, and Lena had no legal claim to their shared home.

This situation is becoming more common as more Americans cohabitate without marrying. Yet inheritance law hasn’t evolved to reflect that shift. 

With OneDigitalTrust, users can include non-family members in their estate plan. Friends, partners, and advisors can be added, edited, or removed at any time. You can nominate them as beneficiaries for specific assets or assign them to key roles like Executor, Guardian, or Power of Attorney—ensuring your plan reflects your real-life relationships, not just legal defaults.

The “Too Soon” Assumption

Jason, 35, was healthy, single, and working hard to build a more stable future. Like many people in his position, he figured estate planning could wait—something for when he had more time, more money, or more to leave behind. Like many people, he didn’t enjoy thinking about death—it felt morbid, premature, and easy to avoid. But after a sudden accident, his family faced legal hurdles just to access his accounts or make medical decisions. 

People with fewer resources often delay planning, believing they don’t need it or can’t afford it. Whether choosing a basic or custom will, OneDigitalTrust makes getting started easy, guided, and affordable. Users can create a legally valid plan in minutes—no lawyer needed—ensuring their real wishes are protected before it is too late.

The Guardianship Gap

Ana was a single mother raising two minor children. She always meant to put a plan in place—but between work, childcare, and life’s daily demands, it stayed on the back burner. When a car accident took her life, her extended family was left with no clear direction. Disagreements quickly arose: one relative lived nearby and offered stability, another insisted Ana had “mentioned” different wishes years ago. 

Without written instructions, guardianship decisions often land in court, even when family members have good intentions. That can lead to stress, conflict, and outcomes that don’t reflect what the parent would have wanted.

With OneDigitalTrust, users can formally designate a legal guardian for their minor children in minutes—right within the will creation flow. They can also add a backup guardian, update their choices at any time, and read on-page help with additional information such as appointing a guardian who lives out of state.

The Common Thread: No One Planned to Leave a Mess

Even the most loving, organized people rarely expect their lives to end without warning. But without a will, the law steps in—and too often, it doesn’t reflect how people actually live, love, and build families today. 

That’s why creating an estate plan is one of the most important steps you can take. OneDigitalTrust helps bridge that gap with tools that make estate planning accessible, customizable, and aligned with real life. Because protecting what matters shouldn’t depend on assumptions.

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Seamless Integration with Financial Accounts: How OneDigitalTrust Enhances Estate Planning for Your Members, Customers and Clients

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Estate planning is crucial to securing a member’s legacy, but it often feels like a daunting task. Each asset—whether real estate, investments, or retirement savings—needs to be carefully considered to ensure the individual’s wishes are met. For community banks seeking a more efficient, comprehensive solution to this challenge, the OneDigitalTrust platform offers a powerful tool that integrates directly with financial accounts, simplifying the estate planning process and helping ensure all financial assets are included.

The Challenge: Managing Multiple Financial Assets

As individuals accumulate assets, estate planning can quickly become complex. Real estate, bank accounts, brokerage investments, retirement funds, and other financial holdings all need to be part of a comprehensive estate plan. The traditional approach often requires manually tracking down account information and entering it into the estate plan, which can be overwhelming—and without a proper system in place, important assets may be left out, causing confusion for loved ones and delays in the probate process. This is where the OneDigitalTrust platform provides a valuable solution.

A Unified Platform for All Financial Accounts

The OneDigitalTrust platform allows members to link their bank, brokerage, and retirement accounts directly to the platform. This makes it easier for members to reflect all of their financial assets in their estate plan, consolidating them into one secure, accessible location—and reducing the risk of overlooking key components of their financial life.

How the Integration Works

The integration allows members to:

  • Easily Link Financial Accounts: Eliminates the need for manual entry of account details and reduces the chance of missing key assets in the estate plan.
  • Streamline Asset Management: With everything connected in one place, members can easily view and manage their estate plan to ensure it reflects their full financial picture.
  • Consolidate Financial Data: All linked assets live in one digital space, simplifying estate plan updates and helping members stay organized.

The Benefits for Community Banks

Offering this type of digital experience brings real value to community banks:

  • Increased Member Engagement: A streamlined, user-friendly estate planning experience keeps members engaged and more likely to return for other financial needs.
  • Strengthened Relationships: Estate planning is deeply personal—helping members protect their legacy shows your commitment to their long-term financial well-being.
  • New Revenue Opportunities: As members gain confidence in their plans, they may explore other financial services, from retirement planning to wealth management.

Comprehensive, Hassle-Free Estate Planning

OneDigitalTrust’s integration with financial accounts simplifies estate planning by consolidating a member’s assets into one easy-to-manage platform. It ensures nothing is left out and gives members confidence their plan is truly complete. By offering this capability, community banks can position themselves as forward-thinking partners, delivering meaningful tools that help protect what matters most—now and for generations to come.

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Planning for Aging Parents: Legal and Financial Steps to Take Now

Watching parents age comes with many emotions, but ensuring they have the right legal and financial protections in place can bring peace of mind for the entire family. Waiting until a crisis occurs can make decisions more stressful and complicated. Taking proactive steps now ensures their wishes are honored and their financial future is secure.

Start with Essential Legal Documents

The foundation of any solid estate plan includes a will, power of attorney (POA), and advance healthcare directives. A will outlines how assets should be distributed, while a POA designates someone to make financial decisions if your parent becomes unable to do so. Healthcare directives, including a living will and medical POA, ensure their healthcare preferences are followed. Without these documents, families may face legal obstacles when making critical decisions.

Review Beneficiaries and Financial Accounts

Many parents set up beneficiaries on life insurance policies, retirement accounts, and bank accounts years ago. Life changes—such as the passing of a spouse, remarriage, or new grandchildren—may require updates. Review these designations regularly to ensure they align with current wishes. Also, confirm that all accounts are easily accessible and organized to avoid complications later.

Discuss Long-Term Care Planning

The cost of long-term care can be significant, and planning ahead can prevent financial strain. Explore options such as long-term care insurance, Medicaid planning, or setting aside assets to cover future care needs. Having an open conversation about their preferences—whether aging in place, assisted living, or nursing home care—helps avoid uncertainty when the time comes.

Use Digital Tools for Easy Updates

Estate planning doesn’t have to be overwhelming. Platforms like OneDigitalTrust make it easy for families to create, update, and store important documents in one secure place. With digital access, children and caregivers can stay informed and ensure plans remain current as circumstances change.

Take Action Now for Peace of Mind

Proactive planning ensures that aging parents have the legal and financial safeguards they need. Having these conversations early prevents stress and ensures their wishes are respected. The right steps today can provide security and clarity for the future.

 

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Anticipating the Future: How Financial Institutions Can Stay Ahead in Estate Planning

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The financial services landscape is evolving at an unprecedented pace, and institutions that wait for change to happen before adapting risk falling behind. As pointed out in the article “Meeting the future before it arrives,” the key to long-term success is anticipating the future—rather than reacting to it.

For credit unions, banks, and financial advisory firms, estate planning represents one of those critical areas where proactive innovation can set institutions apart. While many financial institutions focus on wealth accumulation, far fewer take an active role in helping clients protect and transfer that wealth efficiently. That’s where digital estate planning solutions come in.

Anticipating the Future of Estate Planning

Historically, estate planning has been an attorney-driven, paper-heavy process—often delayed or overlooked by clients. But today, technology is redefining expectations. Digital-first solutions are making estate planning more accessible, affordable, and integrated into the broader financial services ecosystem.

Forward-thinking financial institutions are recognizing that:

  • Clients expect seamless, digital experiences in financial planning.
  •  Estate planning is a key differentiator in holistic wealth management.
  •  Proactive engagement deepens relationships and strengthens client loyalty.
Why Estate Planning Can’t Wait

Waiting until clients request estate planning solutions is like waiting until retirement to start saving—it’s too late to maximize the benefits. Financial institutions must proactively provide tools and guidance, ensuring clients don’t put off estate planning until a crisis forces them to act.

How Financial Institutions Can Stay Ahead

Integrate Estate Planning into Digital Banking & Wealth Management
 Clients should have easy access to estate planning tools within their digital banking platforms—just as they do with budgeting, investing, and insurance. Institutions that provide an embedded estate planning experience will build trust and engagement.

Leverage Technology to Simplify the Process
 Modern estate planning platforms, like the OneDigitalTrust platform, offer an intuitive, step-by-step process that allows clients to create wills, trusts, and beneficiary designations online. These solutions ensure clients can plan proactively without the friction of traditional legal processes.

Use Estate Planning as a Relationship-Building Tool
 By offering estate planning solutions, financial institutions can:

  • Position themselves as trusted, long-term partners in financial wellness.
  • Strengthen engagement with millennial and Gen X clients, who increasingly seek digital solutions.
  • Deepen relationships with multi-generational clients by helping families prepare for wealth transfer.

Future-Proofing Your Institution Starts Now

Credit unions and banks that embrace estate planning technology today will be the ones leading the industry tomorrow. Rather than reacting to disruption, they’ll be shaping the future of financial services—ensuring they remain relevant, competitive, and indispensable to their clients.

Are You Ready to Meet the Future Before It Arrives?

Let’s talk about how your institution can integrate digital estate planning into your client experience and stay ahead of the curve. Reach out to learn more.

 

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Estate Planning for Divorcees: How Financial Advisors can Help Protect Assets and Children

List of marital status options including Legally Divorced, Married (non-traditional), Terminating Traditional Marriage, Terminating Non-Traditional Marriage, and Widowed.

Divorce can create significant shifts in a client’s life, and these changes are not only emotional but financial. For financial advisors and institutions, it’s essential to help divorcees navigate the complexities of updating their estate plans to reflect their new circumstances. A major part of this process includes reviewing and updating wills and trusts to reflect the client’s changed relationships. Clients may have previously named their ex-spouse as a beneficiary or executor, and those provisions need to be updated to ensure that their estate plan aligns with their current wishes. The OneDigitalTrust financial platform allows financial advisors to assist their clients’ in creating and updating their estate plans, ensuring all necessary changes are reflected.

Updating Beneficiary Designations

One of the most important tasks after a divorce is revisiting beneficiary designations on retirement accounts, life insurance policies, and other financial accounts. Often, beneficiary designations don’t automatically update after a divorce, and clients may unintentionally leave assets to an ex-spouse or other unintended parties. With OneDigitalTrust, financial advisors can track these critical updates and receive alerts when beneficiaries need to be revised, ensuring that these changes aren’t overlooked.

Guardianship and Trusts for Children

For clients with minor children, naming a guardian and establishing a plan for their financial care is essential. Advisors should assist in determining the appropriate guardians and ensure that an estate plan is properly set up to manage the children’s inheritance until they reach adulthood. The OneDigitalTrust financial advisor portal helps advisors easily aid their client’s with these decisions, ensuring that guardianship and trust arrangements are properly documented and accessible. This can be especially important when complex family dynamics come into play, as many divorcees have children from previous relationships and need a detailed plan to safeguard their children’s financial futures.

Additionally, the OneDigitalTrust platform accounts for these unique family dynamics within its tools. For example, the “Myself” screen allows users to select their marital status, including the option to indicate a divorce. When adding children to an estate plan, clients can also specify if the children are from a current or previous relationship or are a stepchild from a spouse’s prior relationship. This flexibility ensures that estate plans reflect a client’s family structure with precision.

Managing Shared Property and Assets

Many divorcees also need to address shared property and assets. If a client and their ex-spouse jointly own property or have assets together, it’s important to review how these assets will be managed or divided. Using the OneDigitalTrust platform, financial advisors can track client assets and provide reminders to their clients to update legal and financial documents related to shared property, making sure everything is accounted for in the estate plan.

Helping Divorcees Protect Their Assets and Children

For financial advisors, assisting divorcees with their estate planning process is an opportunity to deepen relationships and offer holistic solutions. By addressing key areas such as updating wills, revising beneficiary designations, and ensuring proper guardianship and financial protection for children, advisors can help clients navigate the complexities of life after divorce.

Leveraging estate planning platforms like the OneDigitalTrust platform streamlines this process, offering tools to monitor estate plan updates, manage documents, and keep clients on track as they make important changes. Features like the ability to account for divorce in marital status and specify the relationships of children further enhance the platform’s functionality, ensuring that estate plans accurately represent the client’s wishes and family structure.

A well-executed estate plan can offer peace of mind to divorcees during a challenging time and provide lasting security for their children and loved ones. By guiding clients through this process and providing the tools to manage their estate plans effectively, advisors can help ensure that divorcees protect their assets and secure their children’s future.

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A Gift of Security: Strengthen Relationships by Offering Estate Planning to Customers, Members and Employees This Holiday Season

As we approach the holiday season, many of us find ourselves reflecting on the year gone by and thinking about the future. For financial institutions and advisors, this is a time to help customers, members and employees reflect not only on their financial goals but also on the importance of securing their legacy for generations to come.

Why Estate Planning Matters During the Holidays

The holidays are a time for family, togetherness, and planning for the future. It’s the perfect season to talk to clients about the importance of comprehensive estate planning. For many clients, estate planning is something that can be easily overlooked. However, the uncertainty that can come with life changes and unexpected events makes it all the more important to have a solid plan in place.

Financial institutions and trusted advisors can play a crucial role in helping stakeholders protect their hard-earned assets, ensuring their wishes are carried out and minimizing the stress on their loved ones. Estate planning should be an ongoing conversation, and there’s no better time than now to initiate that discussion.

How Estate Planning Benefits Financial Institutions and Advisors

  • Strengthen Client Relationships: By helping clients create their estate plan, you reinforce your value as a trusted advisor. Offering estate planning tools and resources strengthens the relationship, showing clients that you are committed to their long-term success and wellbeing.
  •  Increase Engagement: Offering tools that simplify the estate planning process, such as the OneDigitalTrust platform, enables you to keep clients engaged in managing their financial future. Features such as digital document management and seamless communication with family members are tools clients value when planning for the unexpected.
  • Offer Comprehensive Solutions: Estate planning isn’t just about writing a will—it’s about providing comprehensive solutions that address every aspect of a client’s financial life. Whether it’s creating a will, setting up trusts, or managing healthcare directives, estate planning is a multifaceted service that can help clients navigate complex issues. Financial advisors and institutions offering integrated estate planning solutions can position themselves as holistic, full-service providers.
  • Drive Revenue Growth: A streamlined, easy-to-use estate planning solution can attract more clients, driving growth for your business. By offering a digital solution, you reduce the friction associated with traditional estate planning and provide a value-added service to both current and potential clients.

How OneDigitalTrust Can Help

OneDigitalTrust provides a simple, affordable yet powerful platform designed to help financial institutions and advisors deliver a seamless estate planning experience. Whether you are helping clients create a will, manage beneficiaries, or establish a probate-avoidance Revocable trust (“living trust”) , the OneDigitalTrust platform partnering model ensures a tightly-coupled fit with your existing ecosystem of offerings and quickly becomes an extension of your digital footprint. 

As a partner, we understand the importance of aligning estate planning with financial goals. Our solution is designed to increase efficiency, reduce the administrative burden, and empower financial professionals to help stakeholders make confident, well-informed decisions.

Wrapping Up the Year with a Lasting Legacy

This holiday season, give your clients the gift of security, peace of mind, and a well-organized estate plan. As families gather to celebrate, now is the perfect time to help your clients ensure their legacy is protected for years to come. By integrating estate planning into your offerings, you not only help your clients but also reinforce your position as a trusted, comprehensive financial advisor.

Wishing You a Happy, Prosperous Holiday Season

From all of us at OneDigitalTrust, we wish you a wonderful holiday season filled with peace, joy, and the satisfaction of knowing you’re helping clients protect their most valuable assets for the future.

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The High Cost of Doing Nothing: Why Financial Institutions Should Promote Estate Planning

An older woman braids a young girl's hair in front of a sunlit window with white curtains, while kissing her head.

Estate planning is a critical service that helps individuals secure their financial futures and protect generational wealth. Yet, many customers and members of financial institutions delay the process, often perceiving it as too complicated or costly. For financial institutions and advisors, the opportunity lies in addressing this gap by offering tools and resources that simplify estate planning. Even straightforward solutions can make a substantial difference in protecting families and ensuring financial security, highlighting the value institutions and advisors can provide to their communities and clients.

Why Having an Estate Plan Matters

The biggest oversight for many individuals is not having any estate plan at all. For financial institutions, this presents an opportunity to educate and support customers in avoiding this common mistake. As Barbara Ginty, a Certified Financial Planner and host of the Future Rich Podcast, explains:

“The biggest mistake is not having an estate plan. If you want to create generational wealth, you need a comprehensive estate plan.”

Without any plan in place, customers and members may leave their families to navigate unnecessary delays, expenses, and emotional stress. By providing resources and tools, financial institutions can help their clients avoid these challenges, whether through simple solutions or more comprehensive plans. Even for customers and members with straightforward needs, the reassurance that their affairs are in order is a significant value-add that institutions can offer.

Tackling the Cost Barrier

Cost is often cited as a major reason people delay estate planning. Financial institutions are in a unique position to address this concern by offering accessible and affordable tools to their customers, like OneDigitalTrust. Traditional estate planning services can be expensive, but solutions like OneDigitalTrust provide a cost-effective and efficient alternative for creating legally valid plans.

For individuals with straightforward needs, these platforms offer essential tools to create wills, trusts, and other key documents. By partnering with such solutions, financial institutions can help their clients overcome the cost barrier, ensuring that protection and planning are within reach for all. Providing these resources demonstrates a commitment to financial well-being and removes a significant obstacle to getting started.

Staying Organized is Key

Organizational challenges are a common hurdle in estate planning. Financial institutions and financial advisors can play a crucial role in helping their clients navigate this process by promoting the importance of keeping financial records in order. As Patty Fitzsimmons, vice president of accounting at Aquilance, points out:

“Not creating or maintaining a solid accounting and record-keeping system by a family is one of the biggest mistakes in the estate planning process.”

Encouraging clients to maintain a clear understanding of their financial situation—assets, debts, and overall net worth—is foundational to effective planning. Estate planning platforms can complement this effort, but they work best when paired with accurate and up-to-date financial information. By supporting clients in creating asset inventories or net worth statements, financial institutions and advisors can help streamline the planning process and minimize potential confusion down the road.

Fitzsimmons adds:
“Making assumptions about the current state of a family’s situation is another big mistake we see. It is particularly important that the current reality is clearly understood.”

Through education and accessible tools, institutions and advisors can empower their members and clients to build a solid foundation for estate planning.

The Bottom Line: Start Small, But Start

Estate planning may seem daunting, especially for those just beginning the process. However, waiting for the perfect moment or for the ability to afford expensive professionals can be a risky approach. Financial institutions can help their clients take the first step by emphasizing that a simple, foundational plan is better than no plan at all.

A straightforward estate plan, while basic, can offer significant protection and peace of mind. As clients’ needs evolve, estate planning can become more complex, but starting with a solid foundation, such as the one offered through OneDigitalTrust, can provide a critical safety net from the start. Financial institutions can play a key role in helping their clients navigate this journey without the burden of high costs or complexity.

In the end, estate planning doesn’t need to be overwhelming. Encouraging clients to take small steps now, using accessible tools, can ensure they have a plan in place that safeguards their financial future and offers clarity for their loved ones.

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