What is estate planning? Here’s what Wikipedia has to say: Estate planning is the process of anticipating and arranging for the disposal of an estate during a person’s life. 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. It overlaps to some degree with elder law, which additionally includes other provisions such as long-term care.