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If a house, including the main residence, or car is above a certain value, a third party can buy the interest from the estate in order for the bankrupt to utilise the asset
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Bankruptcy - Wikipedia

https://en.wikipedia.org/wiki/Bankruptcy
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

Trust (law) - Wikipedia

https://en.wikipedia.org/wiki/Trust_law
This may be done for tax reasons or to control the property and its benefits if the settlor is absent, incapacitated, or deceased

Power of attorney - Wikipedia

https://en.wikipedia.org/wiki/Power_of_attorney
In the context of the unincorporated reciprocal inter-insurance exchange (URIE) the attorney-in-fact is a stakeholder/trustee who takes custody of the subscriber funds placed on deposit with him, and then uses those funds to pay insurance claims

Estate planning - Wikipedia

https://en.wikipedia.org/wiki/Estate_planning
In the United States, assets left to a spouse who is a U

Bankruptcy Skip to main content

https://www.uscourts.gov/services-forms/bankruptcy
gov website belongs to an official government organization in the United States

Probate - Wikipedia

https://en.wikipedia.org/wiki/Probate
This is commonly the closest relative, although that person can renounce their right to be administrator, in which case the right moves to the next closest relative

Estate tax | Internal Revenue Service Skip to main content

https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
gov website belongs to an official government organization in the United States

Sites: en.wikipedia.org (5) · www.uscourts.gov (1) · www.irs.gov (1)