Estate planning consists of the preparation of legal documents, such as wills and trusts, that will determine who will control your assets if you are no longer able to. In general, an estate is comprised of all of your assets, including property, investments, material belongings, and anything else you own. Because you control these assets, what happens to your estate after you die is also up to you. Estate planning includes any decisions about what to do with these material assets after death or a serious disability. For example, when estate planning you can decide how your finances and property will be divided among friends or family. Estate planning can also be used to create living wills or living trusts that can be used in situations of extreme injury or disability that might otherwise prevent you from making decisions about your assets or healthcare. Because the division of your estate involves legal considerations, such as estate taxes, estate planning is important to ensure that you control the fate of your assets.