Let’s face it –nobody likes talking about estate settlement. Unfortunately, at some point, many of us will find ourselves navigating its complexities. I can say from personal experience that it’s about as fun as doing your taxes while stuck in rush hour traffic. Working with a bank during estate settlement can either be a source of comfort or a one-way ticket to frustration. Some banks really shine, offering empathetic, knowledgeable staff who gently guide you through the process like financial Sherpas. Others offer you seemingly endless paperwork and inconsistent policies that make you wonder if you’re settling an estate or buying a small island. Here’s what our recent research found:

Banks need to make estate settlement easier

The process itself is no picnic. Unclear documentation requirements, conflicting information, and delays are just a few of the common complaints. One person in our ConsumerVoices Market Research Online Community (MROC) summed it up perfectly: “There is so much to do, and while you are grieving, it is just difficult.” Who can argue with that? It’s a tough time emotionally, and no one wants to deal with a bank that makes things harder.

But here’s the silver lining: banks have an opportunity to step up and make estate settlement less painful. Customers want clear guidance, responsive service, and digital tools that work. While almost three-quarters of people in the UK, Canada, and the US would rather work with a financial professional than deal with clunky self-service tools, more than a quarter were disappointed by the lack of digital options. Basically, people want the best of both worlds: the human touch and seamless digital solutions.

Customers settling an estate want the 3 E-s of CX: Ease, Effectiveness, Emotion

What’s on the executor wish list?

  • They want to remain calm. Offer empathetic service, simplify the process, and provide tools that don’t make people want to throw their laptops out the window. Estate settlement doesn’t have to be a nightmare. And if you can make the process smooth, you’ll not only keep your customers – you might even earn a few new ones.
  • They want tools that are simple, reassuring, and trust building. We’re not talking rocket science: this is about secure messaging, account access, alerts, and tools to transfer money. These features already exist, but banks need to stop gatekeeping them like they’re the bouncer at a VIP club. Make them easy to find and use – and accessible. Build personas that reflect the estate settlement process and tools that ease the journey.
  • They want personalized, efficient service. A bad estate settlement experience can send customers running to the competition faster than you can say “probate.” Many people in our MROC moved funds to another bank after a rocky settlement process. Why? Stress, fees, and delays—all the usual suspects. On the flip side, customers who stayed praise their bank for personalized, efficient support, and clear guidance.

Want to dig deeper? Forrester clients can schedule a guidance session and check out our report on estate settlement. Not a client? Let’s talk about how we can help.