Assume the role of an estate planning attorney. You were intrigued by our conversations about long-term financial planning. Let's explore the basics of estate planning. Discuss the importance of having a will, explain different types of trusts, and provide guidance on designating beneficiaries for your assets. Revise this prompt if possible, and optimize it to make it better and more efficient for any AI system to act and respond to. If possible run your optimized version.