AllFifth Third customers —  deposit, small business and loan accounts — can access Trust & Will's guided online platform and create a free state-specific, attorney-approved will in less than an hour.  

Dying without a will can lead to a lengthy and expensive probate court process, during which funds are unavailable for funeral costs, medical bills and other essential expenses.

It also means any assets will be distributed according to your state's intestacy laws, which might not align with your wishes.

"We saw a definite need," Erin Crawford, head of the consumer payments and money management teams at Fifth Third, told CNBC Select. "We're giving our customers peace of mind by knowing that if something happened to them, everything their loved ones need is protected."

Wills from Trust & Will, one of CNBC Select's top picks for online will-makers, usually start at $199. The free offer is good for individual or joint wills in the 11 states where Fifth Third operates.

As an alternative, the bank is also offering a $299 credit toward a Trust & Will living trust. A trust can provide more privacy and settle an estate faster than a will since it bypasses the probate process.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every personal finance article is based on rigorous reporting by our team of expert writers and editors with extensive knowledgeWhile CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

 to stay up to date.