Estate Planning is a Process. It is the process through which individuals define, through the proper documents, what they would like to occur in the event of their death or disability. The most important element in Estate Planning is the Last Will & Testament. The will contains the instructions about what you would like to happen with your assets after your death. It may also name guardians for minor children and create trusts for minor children or for other purposes. It states who you have chosen for beneficiaries and what assets will be given to those beneficiaries. It also names who you have chosen to be the executor of your will, the person who will administer your estate as it moves through the probate court. But a will is not the only component in Estate Planning. A proper Estate Plan will also include “powers of attorney” documents which determine what should happen in the event of incapacity, no matter at what point in life that may occur. An Estate Plan will also work to minimize the tax implications for any transfer of assets between parties. An estate plan may also include a pre- or post-nuptial agreement between parties. Estate Plans can range from relatively simple to very complex. The most important thing about an Estate Plan is that it is your plan, tailored to your specific situation!