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The Fundamentals of Estate Planning

May 2019

A comprehensive estate plan empowers you to:

Ensure

Ensure that your wishes and family needs are met.

Dispose

Dispose of assets according to your desires.

Protect

Protect family wealth and privacy.

Plan

Plan for your own needs.

Minimize

Minimize taxes and expenses.

If you do not have a will when you pass away, State Laws (Statute) and/or the court system will decide who your heirs are and how much they receive.

Of US Adults Do Not Have A Will

60%

Of US Adults Have Not Named A Healthcare POA Or Proxy

50%

Get to know these important estate-planning tools.

Plan Your Estate

Wills and Trusts

Specifies who should receive which of your assets, and how, after your death. A will allows you to name guardians for any dependent children. Trusts function as their own entity and govern distribution of funds to beneficiaries, allowing for more control of an estate.

Plan Your Estate

Power of Attorney (POA)

Designates a party to make financial decisions on your behalf if you cannot.

Plan Your Estate

Advance Directive

Expresses your wishes for any medical intervention if you become terminally ill and are unable to communicate.

Plan Your Estate

Healthcare POA or Proxy

Names a person to make your healthcare decisions if you are unable to do so.

Plan Your Estate

Listing of Financial Records

Catalogues your financial information and its location to assist fiduciaries upon your death.

Plan Your Estate

Informal Letter of Instruction or Intent

Gives your family and executor guidance to help lead them through the estate settlement process.

A trusted advisor can simplify estate planning by coordinating the work of specialists in:

  • Wills and trusts
  • Charitable giving
  • Investment management
  • Retirement planning
  • Tax strategies
  • Business succession planning
  • Insurance and risk management
  • Borrowing and liquidity

For more information, please contact your advisor.

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The Key Wealth Institute is comprised of a collection of financial professionals representing Key entities including Key Private Bank, KeyBank Institutional Advisors, and Key Investment Services.

Any opinions, projections, or recommendations contained herein are subject to change without notice and are not intended as individual investment advice.

This material is presented for informational purposes only and should not be construed as individual tax or financial advice.

Bank and trust products are provided by KeyBank National Association (KeyBank), Member FDIC and Equal Housing Lender. Key Private Bank and KeyBank Institutional Advisors are part of KeyBank. Investment products, brokerage and investment advisory services are offered through Key Investment Services LLC (KIS), member FINRA/SIPC and SEC-registered investment advisor. Insurance products are offered through KeyCorp Insurance Agency USA, Inc. (KIA). KIS and KIA are affiliated with KeyBank.

Investment products are:

NOT FDIC INSURED • NOT BANK GUARANTEED • MAY LOSE VALUE • NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY

KeyBank and its affiliates do not provide tax or legal advice. Individuals should consult their personal tax advisor before making any tax-related investment decisions.