Courts can reverse a trustee's actions, order profits returned, and impose other sanctions if they find a trustee has failed in their duties

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

When all the claims are paid, the attorney-in-fact then returns the leftover funds to the subscribers

After the testator dies, the person named in the will as executor can decline or renounce the position, and if so should quickly notify the probate court accordingly

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