Fifth Third Bank is offering free wills to all of its customers through an exclusive partnership with Trust & Will, a digital estate planning platform.
Only 4 in 10 American adults have a will or living trust, according to a new survey from Caring.com, making the prospect of creating a state-specific, attorney-approved will or trust at no cost appealing. Not to mention, it can be done in less than one hour.
This offer from Fifth Third and Trust & Will tackles a serious gap in estate planning — 83% of Americans aged 18 and over think a will is essential, and yet only 31% have one in place, according to Trust & Will's 2025 Estate Planning Report.
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But what’s more concerning is that retirement readiness is unevenly distributed among Americans: Wealthier households, older generations, and men are generally better prepared, while younger adults, lower-income individuals, and women face greater challenges. Offering free wills may even the playing field.
"At Fifth Third, we are leading the industry with digital solutions that solve everyday banking needs," said Ben Hoffman, chief strategy officer and head of consumer products. "We’re thrilled to address another gap in financial planning with this novel partnership, securing our customers’ legacies for generations to come."
Here’s how to get your free will
Fifth Third Bank and Trust & Will is making it easy to get your free will or living trust in less than an hour. Here's how:
- Log in to online banking or with the Fifth Third mobile app.
- Click the Trust & Will link on your ‘Accounts’ dashboard.
- Choose the estate plan that’s right for you, and the discount will be automatically applied.
A Will: A will is a legal document that outlines how your assets will be distributed, according to your wishes. It also takes into consideration health care decisions on your behalf and who will look after your children.
A Trust: A trust is a legal arrangement where one person (the grantor) gives another person or organization (the trustee) the right to manage the assets and wealth of the beneficiary. A trust can also help you avoid probate, among other benefits.
It’s that easy. Not a customer yet? Here's how to open an account.
Why you should have a will
Having a will or living trust is a critical step in ensuring your wishes are honored after your death. It can prevent unnecessary family conflicts, stress and financial complications for your loved ones. Yet, people as a whole procrastinate and put off dealing with these decisions.
As long as you have a will, you have the power to control how and when your beneficiaries receive their inheritance and who will be in charge of administering your estate. (Keep in mind that there are also ten things you should leave out of your will).
"We believe every family deserves peace of mind," said Cody Barbo, CEO of Trust & Will. "Our mission is to make estate planning accessible to all, and this partnership brings us one step closer to that goal."
Fifth Third customers can learn more about Trust & Will and get started at 53.com/TrustandWill.
Need advice on estate planning? Use the tool below, powered by Bankrate, to connect with a professional:
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