Estate Planning Definition We sometimes get asked what is the definition of estate planning? Simply put, it is the process of determining who gets your assets when you pass away, when they get those assets (whether it be right away or delayed), and who is in charge of making that happen. Further, it can include who you want to take care of your minor children, if any. There are a bunch of mechanisms to get this done - from revocable trusts to a last will and testament, to jointly titling property. Thanks.