How Estate Planning Can Help Institutions Win the Loyalty of Customers & Employees

Deliver more for your customers and employees

Estate planning is an essential part of planning for the future, though many people fail to plan for this eventuality. As bank, credit union or other financial services provider, helping your customers/members and employees create an estate plan isn’t just a perk; it says that you care about them and their family. It’s a simple way to show them that you care about their personal and family wellness.
While estate planning options are not mandated, it is important for you to offer it to your customers and employees. It’s about wanting to go above and beyond and provide that extra service. In reality, estate planning is essential, because the unintended consequences of not having any plan can be rather painful.

Offering estate planning is good for them and you

Build Trust With Your Clients

By offering estate planning, you can build upon the trust you already have with your customers and employees. On one hand, offering an added benefit of estate planning solutions is a natural fit with clients who already trust you with one part of their life’s planning. If someone has already converted to a customer and trusts you with one item, it’s much easier to provide another complementary service.
On the other hand, offering this added benefit like legacy and estate planning is a simple way to establish even more trust. Customers subconsciously understand that you have a comprehensive focus, and care about the holistic picture of someone’s financial life, not just the bottom line. It also shows that you truly care about them and the future of their family even when they are gone.

Improve Customer/Member Service

Estate planning is an added benefit and a way to augment the high-caliber customer service you already offer your clients. It’s a natural extension that gives your clients that extra feeling that you care and are looking out for their best interest, while delivering an experience they would get nowhere else.

Increase Long-Term Financial Wellness

Estate planning isn’t just about designating where wealth goes, but improving the long-term wellness of the family. When customers are gone, an estate plan designates where their wealth goes, making the process of dealing with a loved one’s death easier and less stressful. When a person does not have an estate plan, this can cause confusion and indecision (and the laws of the state (probate court) will take control and decide who gets what), further upsetting an already grieving family. When you offer estate planning as an institution, it shows that you truly care about your customers and employees as actual people with lives and families outside of the company.

Stem Attrition

Employees want more out of work than just a paycheck. They are looking for organizations that share the same values as them and care about them as people, not just as warm bodies filling a position. By offering benefits such as estate planning, you show that you care about your employees as people and that you hold the same values as them, like the importance of family. This can also lead to increased employee loyalty, which can stem attrition and instead, improve employee retention.

Expand Your Services

You are already helping your client plan for things like retirement and asset strategy. Estate planning is an integral part of the financial planning conversation and an extension of your services. You are already having these types of conversations with your clients, so incorporating estate planning is a natural fit. Naturally, your customers will look to you for the trusted choice in building their estate plan, and we know that OneDigitalTrust is a simple way to offer a solution they will trust.

Prioritize Relationships Over Transactions

We’ve touched on this throughout this article, but finally, offering estate planning to your clients and employees brings a relational side to your business. Estate planning isn’t about your bottom line; it’s about the human lives of the people who do the planning and their loved ones. It allows you to move past the business side of your interactions with customers and employees and create deeper, trusting relationships that build loyalty.

At OneDigitalTrust, we have reinvented personal legacy and estate planning, helping users create and maintain their plan through all life states and events, and helping advisors and institutions provide an even better customer experience. Life moves too fast for old-school estate planning approaches. Get your customers and employees an “always on” capability right in their pocket. Trust us, they will thank you for it!


Here’s Why More than 65% of Your Customers Have Not Created a Legally Valid Plan to Distribute their Wealth When They’re Gone

5 Reasons People Fail to Do any Estate Planning

There’s a huge number of your customers and clients who haven’t created a viable plan to distribute their wealth when they are gone. In fact, 65% of American adults have not created a viable plan to distribute their wealth. The bottom line: this number hasn’t changed much in 30 years, leaving a significant population that is unprotected. Here’s why we should not be okay with these numbers: Creating a plan to distribute your wealth is like an insurance policy. It gives you both the security and peace of mind knowing that there is a plan for your wealth when you are gone. The unintended consequences that surviving loved ones suffer through are both emotionally painful and costly. The worst part is, that if a person passes without a plan in place (aka “intestate”), the assets are distributed based upon age-old guidelines set by each state, regardless of emotional relationships forged through the individual’s lifetime. Distribution must follow a formula for inheritance, set by the state, which in many cases may be over 50 years old and coupled with a highly bureaucratic process deemed obsolete in terms of applicability in today’s day and age (e.g. unmarried partners). So why have so many failed to plan for this eventuality?

Subscribe To Our Newsletter

#1 Procrastination Perfection

If there is one thing many of us are good at, it’s procrastinating. And clearly not just with our household chores we have no interest in doing–especially when there are so many other more exciting things to do! But the truth is, no one thinks that this will happen to them, or that when they do pass away, that it will be at a ripe old age and that there’s plenty of time to plan later. It’s like we believe we are invisible to death. Unfortunately for us, we don’t have a cloak of invisibility that hides us from death until we are in our 90s.

#2 It’s Morbid

Planning for what happens with our assets after we die is morbid in and of itself. Who wants to think about death? It’s hard to not only think about death, but it’s difficult to also think about who will get a portion of your wealth when you are gone. Let’s just all be honest, and say that these topics are not necessarily fun and joyful things to consider. Your customers are feeling the same way!

#3 Toss the Salt

Don’t cross a black cat, don’t walk under a ladder and don’t break a mirror. Many are flat out superstitious about the subject. Somehow we’ve told ourselves that even thinking about death and the future is like a self-fulfilling prophecy and that if we don’t think about our own passing, it won’t happen. But throwing salt over your shoulder isn’t going to dispel death from your future. There are two things certain in life: taxes and death. So until someone creates an elixir of life, planning ahead is important!

#4 Expenses List

We understand that many feel legacy planning is costly and requires hiring expensive professionals. Why pay money to plan for a future that you aren’t in? But is anything more important than the family left behind? That’s why OneDigitalTrust’s pricing model is really affordable and easy for institutions to bulk purchase and offer to their customers and employees. Remember, lives change and estate planning needs to change with it. Whether someone is getting married, welcoming a new baby into your life, is bequeathed an inheritance, or has another big life change, our pricing makes it affordable to change the plan when you need to. OneDigitalTrust’s periodic estate health check is designed to enable your employees and customers ensure that their plan stays lockstep with their life-stage changes

#5 Overwhelming

Finally, estate planning can be overwhelming. Not only are each state’s statutes different, and they can change at any time, but the legalese is enough to make anyone’s head spin! For the average adult that doesn’t follow these laws and work in them regularly, it can be extremely overwhelming, causing many to avoid estate planning altogether. You can answer, or pre-populate answers, for the customer’s basic info, making it easier to encourage estate planning and get your customer started. It also makes it simple for users to create and maintain their plan through all their life stages. Our program makes it easy for you (and your customers), taking the overwhelm out of the equation. Over 65 percent of Americans have avoided estate planning for one reason or another, but the biggest reasons center around: procrastination, access to a simple and affordable platform that users can trust, and the depressing reality of death. That is why we have reinvented personal legacy and estate planning for the digital-age. Like a 401k, legacy and estate planning is better delivered by trusted institutions a customer is already working with. With our solutions, your customers can create a viable estate plan in a fraction of the time, headache, and complexity of the traditional process.