Trust planning refers to the process of making arrangements for the management and distribution of one's assets and property. It involves creating a legal document called a trust, which allows someone to transfer their assets to another person or entity (known as the trustee) to hold and manage for the benefit of specified individuals (known as beneficiaries). The goal of trust planning is to ensure that one's assets are protected, taxes are minimized, and provisions are made for their loved ones or charitable causes.