Estate planning is the process of creating a comprehensive strategy for managing and distributing your assets upon your death or incapacity. It involves drafting legal documents such as wills, trusts, and powers of attorney to ensure that your wishes are carried out, your loved ones are provided for, and your assets are preserved. Estate planning is crucial for several reasons: It allows you to maintain control over who inherits your assets, minimizing disputes and ensuring your beneficiaries receive what you intend. It helps minimize estate taxes, reducing the financial burden on your heirs. Estate planning can include provisions for healthcare decisions, providing peace of mind and ensuring your medical preferences are respected if you become incapacitated. Overall, estate planning is a responsible way to protect your legacy and your loved ones’ financial well-being.