Estate planning is the process of anticipating and arranging for the management
and disposal of a persons estate during the persons life in preparation for future
incapacity or death. The planning includes the bequest of assets to heirs, loved
ones, and/or charity, and may include minimizing gift, estate, and generation-skipping transfer taxes. Estate planning includes planning for incapacity, reducing
or eliminating uncertainties over the administration of a probate, and maximizing the
value of the estate by reducing taxes and other expenses.