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Trusts are widely used internationally, especially in countries within the English law sphere of influence, and whilst most civil law jurisdictions do not generally contain the concept of a trust within their legal systems, they do recognise the concept under the Hague Convention on the Law Applicable to Trusts and on
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https://en.wikipedia.org/wiki/Trust_law
2 Purpose trusts and the requirement for a beneficiary
7
https://en.wikipedia.org/wiki/Power_of_attorney
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
https://en.wikipedia.org/wiki/Probate
The probated will then becomes a legal instrument that may be enforced by the executor in the law courts if necessary
https://en.wikipedia.org/wiki/Estate_planning
Assets left to any other heir, including the decedent's children, may be taxed if that portion of the estate has a value in excess of the lifetime gift, estate, and generation-skipping transfer tax exemption amount
https://en.wikipedia.org/wiki/Bankruptcy
The term is often described as having originated in Renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment
https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
" The includible property may consist of cash and securities, real estate, insurance, trusts, annuities, business interests and other assets
https://www.uscourts.gov/services-forms/bankruptcy
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Sites: en.wikipedia.org (5) · www.irs.gov (1) · www.uscourts.gov (1)