American Banker

July 25, 2005
by John Adams

Excerpts:

“Putting its library of will and trust info on-line is expected to improve relationships with speed-craving estate lawyers. They can now build customized documents in minutes.

Northern Trust Personal Financial Services…has just implemented a program that helps lawyers build customized forms on-line, replacing the hard copy and desktop binders.

Northern Trust, which provides investment management, asset and fund administration, fiduciary and banking services for corporations, institutions and affluent individuals, is using a platform from The SAVO Group, which specializes in sales platforms. [SVP of Marketing for Northern Trust Personal Financial Services Diane] Spradlin says the flexibility—an ability to alter forms, content and business rules quickly—of a sales-oriented platform lends itself well to the number and variety of forms involved in estate planning. At Northern Trust, those forms are enough to fill a novel. ‘The new technology has all of the components we need for building and assembling a fill-in-the blank will and trust,’ Spradlin says.

Called Will & Trust Forms On-line, Northern Trust's on-demand service offers quick access to a centralized library of legal assets, such as specialized wills, trust agreements and forms in a series of templates. Users search for the form category that fits their needs, obtain information about any form—including alternate provisions and best practices for form use—download up-to-date forms in their entirety using a fast-track feature, tailor forms by selecting provisions and entering customer text, review prompts for legally required and suggested text inclusions and exclusions, and receive customized Word and Adobe Acrobat PDF documents via an e-mailed download link.

‘It's really easy to use and it's very quick,’ Spradlin says. ‘You go down the list, and in a few clicks you know what the provisions for the will are going to be.’”