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Creditors have no say in the formulation of the plan, other than to object to it, if appropriate, on the grounds that it does not comply with one of the Code's statutory requirements
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https://en.wikipedia.org/wiki/Bankruptcy
Many city-states in ancient Greece limited debt slavery to a period of five years; debt slaves had protection of life and limb, which regular slaves did not have
https://en.wikipedia.org/wiki/Trust_law
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
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/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/Probate
It is possible to get a professional executor to renounce their role, meaning they will have no part in dealing with the estate; or to reserve their power, which means the remaining executors will carry out the related duties, but without the involvement of the professional executor
https://www.uscourts.gov/services-forms/bankruptcy
gov website belongs to an official government organization in the United States
https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
It consists of an accounting of everything you own or have certain interests in at the date of death (Refer to Form 706 PDF)
Sites: en.wikipedia.org (5) · www.uscourts.gov (1) · www.irs.gov (1)