is a legal relationship in which the owner of property, or any transferable right, gives it to another to manage and use solely for the benefit of a designated person

Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts

If someone is already incapacitated, it is not possible for that person to execute a valid power, although in some jurisdictions, it may be possible for someone to have the capacity to execute a power of attorney even if they do not have the capacity to make the decisions that they are delegating

This often happens when parents or grandparents are first in line to become the administrator but renounce their rights on the grounds that they are elderly, do not possess knowledge of estate law, or feel that someone else is better suited to the task

Court Role and Structure The judicial branch is one of the three separate and distinct branches of the federal government

Estate planning or inheritance planning is the process of anticipating and arranging for the management of a person's estate or net worth during the person's life in preparation for future incapacity or death

It consists of an accounting of everything you own or have certain interests in at the date of death (Refer to Form 706 PDF)