Estate planning is the process of arranging and managing one's assets, properties, and financial affairs in preparation for the distribution of those assets after their passing. The primary goals of estate planning are to:

1. Ensure the smooth and efficient transfer of assets to beneficiaries or heirs.

2. Minimize estate taxes and other potential costs.

3. Specify the individuals or organizations that will receive the assets.

4. Appoint guardians for minor children if necessary.

5. Plan for incapacity by appointing someone to make healthcare and financial decisions on your behalf if you become unable to do so.

Estate planning typically involves creating legal documents such as wills, trusts, and powers of attorney to outline your wishes and provide instructions for the management and distribution of your estate. It is an important process for anyone who wants to protect their assets, provide for their loved ones, and have control over their financial affairs in the event of their incapacitation or passing.