According to wikipedia, estate planning is the process of anticipating and arranging for the disposal of an estate. Estate planning typically attempts to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses. Guardians are often designated for minor children and beneficiaries in incapacity.
I think that estate planning is about
-what to do with your money when you can no longer spend it
-how to take care of your loved ones from beyond the grave
-creating a perpetual income stream rather than a sudden windfall with your legacy
-leaving a good parting gift rather than lasting confusion
-thinking about whom to trust your young ones to
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