You are engaging in ________ when you plan for what happens to your accumulated wealth and your dependents after you die, as well as determining decision-making authority should you be physically or mentally impaired.

What is Estate Planning?
Estate planning is the process of designating who will receive your assets in the event of your death or incapacitation.

Estate planning vs Living will:
Basically, an estate plan is a broader plan of action for your assets that may apply during your life as well as after your death. A will, on the other hand, dictates where your assets will go after you die, who will be the guardian of your children and more.