Estate Planning is the transfer of your property among chosen successors. The important reasons one must do in Estate Planning are

⮞ To optimize costs of transferring property to successors
⮞ To minimize taxes during lifetime
⮞ To protect property from creditors
⮞ It also aims at retaining control and management of your assets during your lifetime and passing it on to the intended beneficiaries after death. Some of the instruments of estate planning include wills, trusts, gifts, HUF, etc.