Legacy planning is the process of preparing for the distribution of your assets and responsibilities after your death. It involves making decisions about how your belongings, finances, and even personal values will be passed on to your heirs or charitable organizations. This planning can include creating a will, setting up trusts, and designating beneficiaries for accounts. Additionally, legacy planning often encompasses considerations for tax implications, funeral arrangements, and healthcare decisions. By taking these steps, individuals can ensure that their wishes are honored and that their loved ones are supported, making the transition smoother for everyone involved.