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Spain, for example, passed a bankruptcy law (ley concurs) in 2003 which provides for debt settlement plans that can result in a reduction of the debt (maximally half of the amount) or an extension of the payment period of maximally five years (Gerhardt, 2009[missing long citation]), but it does not foresee debt
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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/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/Trust_law
Benefactors would convey land for the use of the friars to a suitable local person (the feoffee) to hold legal fee simple title, while promising to allow the friars to live on and receive the profits of the land
https://en.wikipedia.org/wiki/Estate_planning
Federal income tax purposes, a life insurance trust could be used to pay estate taxes
https://www.uscourts.gov/services-forms/bankruptcy
Court Programs
Bankruptcy Bankruptcy helps people who can no longer pay their debts get a fresh start by liquidating assets
https://en.wikipedia.org/wiki/Probate
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Sites: en.wikipedia.org (5) · www.uscourts.gov (1) · www.irs.gov (1)