Estate Planning the process of preparing a person’s property to be passed on to other people and further generations. It covers common subjects such as wills, trusts, guardians and probate. Estate planning tries to eliminate uncertainties in areas which usually become complicated if left for decision after death – such as who will administer the estate. It is also about financial planning, maximizing the value of the estate by reducing taxes, accounting for changes in the law and eliminating expenses. Planning may also include specifying guardians for minor children and beneficiaries who do not have capacity. Many attorneys who practice estate planning also handle matters concerning Elder Law including those that may involve a last will and testament, living will, health care proxy and power of attorney.