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Legal and natural persons, including individual entrepreneurs, who have an indisputable payment obligation exceeding 60 days and amounting to more than one million AMD can be declared bankrupt
from the top result below
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 one authorized to act is the agent,[1] attorney, or in some common law jurisdictions, the attorney-in-fact
https://en.wikipedia.org/wiki/Estate_planning
Federal income tax purposes, a life insurance trust could be used to pay estate taxes
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
https://en.wikipedia.org/wiki/Trust_law
Some breaches can be charged and tried as criminal offenses