Estate planning is planning for whatever you have, who will receive your assets and take responsibility if you become incapacitated or after your death. No matter how many assets you belong, it can be your car or home or saving accounts or anything you have. Another goal is to ensure receive assets in a way that minimizes estate tax, gift tax, income tax and other taxes. Estate planning has seven basic steps: Inventory your stuff, account for your family’s needs, establish your directives, review your beneficiaries, note your state’s estate tax laws, weigh the value of professional help, and plan to reassess. Life changes, so you should plan your estate. A sudden accident or death can disaster a family if you have an estate plan that may protect your family. So it’s the best time to an estate plan.