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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
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/Power_of_attorney
The examples and perspective in this article deal primarily with the United States and English-speaking world and do not represent a worldwide view of the subject
https://en.wikipedia.org/wiki/Bankruptcy
If a man owed and he could not pay, he and his wife, children or servants were forced into "debt slavery" until the creditor recouped losses through their physical labour
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