What is the purpose of estate management? Estate management is about preserving the assets you’ve spent a lifetime building. It’s about protecting your spouse, children, or other heirs and ensuring that your assets are distributed how and when you want them to be. Finally, estate management is about managing the amount of estate taxes that may be due after your death. There are some fundamental estate management principles that can enable you to manage your financial and personal affairs during your lifetime and distribute your wealth after death.