Estate planning refers to the process of preparing for someone’s future disability or death by
making arrangements for the distribution and management of the person’s estate while the
person is still alive. Planning may involve reducing gift, property, or transfer taxes as well as
bequeathing assets to loved ones, charities, or heirs. Planning for incapacity, minimizing or
eliminating doubts around the handling of probate, and increasing the worth of the property by
lowering taxes and other costs are all part of estate planning. Only the estate owner’s unique
aims can decide the end objective of estate planning, which may be as straightforward or
as intricate as the owner wants.