Baby boomers aren’t just the second-largest generation in history. Thanks to long-term growth in home values and the stock market, they’re also among the most prosperous. And they’re poised to leave a staggering $36 trillion of assets to Gen X and millennial heirs over the next two decades, according to a new report by Visa Business.
When money changes hands, it often changes banks as well. But a growing number of institutions are helping their customers get ahead of the “great wealth transfer,” often with the help of outside partners. In the process, they’re hoping to turn a potential risk into an opportunity for greater connection with customers and their families.
For community banks like $620 million-asset Claremont Savings Bank in Claremont, New Hampshire, part of the solution was teaming up with Paige in 2025. The digital platform allows customers to complete a variety of important tasks on their own, from creating a will and managing beneficiaries to storing passwords for their online accounts.
“Paige’s digital legacy and estate planning platform aligned well with our mission of helping customers and their families prepare for important life events while protecting their financial future,” says Carie Kelly, senior vice president of digital banking at Claremont Savings Bank.
How digital estate planning tools remove barriers for bank customers
According to a 2025 survey by Pew Research, most adults don’t have a will until they reach their 70s, leaving families to potentially go through complex probate proceedings and contend with unclear medical wishes at an already difficult time.
While some digital estate planning companies allow consumers to access their services directly, platforms like Paige, Trust & Will and GoodTrust use banking partnerships to break down some of the barriers preventing families from preparing these important documents.
Kelly contends that families feel more confident in their choice of platform when they know it’s been vetted by their financial institution. “They value the fact that the service is being offered through a trusted banking relationship,” she says.
Typically, getting access through a bank also represents a more affordable option than signing up directly. Cross-selling Paige subscriptions at a discounted rate helps appeal to Claremont’s more budget-conscious customers, says Kelly.
In addition, she explains that the strategy addressed a major challenge many bank customers face when creating estate plans in a more traditional way: the need for relatives to drive a long distance to store documents in a safe location. With an online platform, customers can instead upload documents to an encrypted digital vault from the comfort of their home or office.
Victory Bank in Lubbock, Texas, also announced a partnership with Paige last year, offering free subscriptions—it absorbs the cost—to employees as well as top-tier business and personal banking customers. Other customers get access at a less expensive rate. Ultimately, the relationship allows the $300 million-asset bank to better achieve its goal of offering a complete set of financial solutions for customers, says president and CEO Brett McDowell.
Because many of its account holders are small business owners, a digital tool that prepares them for future uncertainties can be especially important, says Morgan Doyle, Victory Bank’s senior vice president of business direct banking. She adds that while some customers might end up needing more complex estate planning, digital tools can be a great place to start the process.
Building multigenerational banking relationships through legacy planning
In supporting account holders as they manage major life transitions, Kelly contends that these collaborations benefit both the consumer and the bank. “It strengthens our role as a trusted advisor and creates opportunities for deeper customer engagement beyond traditional banking products,” she says.
As members of the aging boomer generation prepare to transfer their assets, offering estate planning solutions can also help solidify the bank’s relationship within the family, says Billie Connally, Paige’s vice president of partnerships.
For example, when customers subscribe to Paige, which now has over 35 partner banks, they usually invite three to five family members to also join the platform, Connally says. These are often loved ones with a defined role in their legacy plan, though it can also include children or other individuals with whom they want to share photos, letters or memories. In the process, she argues that banks are able to extend their brand to family members who might not currently be customers.
For Kelly, that’s a significant benefit to the partnership.
“We see estate planning tools as a way to connect with future generations of our customers,” she says. “When families are better organized and have important financial information documented, it can help maintain relationships through life transitions and position the bank to continue serving those families for years to come.”