Estate planning is making a plan in advance and naming the individuals you would like to receive your possessions after you die.
It should also:

• Include instructions for passing your personal beliefs and values
• Include instructions for your personal care if you should become disabled before you die.
• Name an inheritance manager if any, and a guardian and for minor children.
• Provision for family and loved ones who are irresponsible with finances or who would need future protection from debt collectors.
• Include a life insurance policy toward financial provision for your family at your death,
• Instructions for the transfer of your company and/or business at your disability, retirement, or death.