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A trustee may be held personally liable for problems, although fiduciary liability insurance similar to directors and officers liability insurance can be purchased
from the top result below
https://en.wikipedia.org/wiki/Trust_law
2 Purpose trusts and the requirement for a beneficiary
7
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/Power_of_attorney
An attorney has power to act on behalf of the person; this power can be misused, for example, to steal the assets of a person who may be vulnerable (e
https://en.wikipedia.org/wiki/Probate
Professional executors will charge the estate for carrying out duties related to the administration of the estate; this can leave the family facing additional costs
https://en.wikipedia.org/wiki/Estate_planning
meets with client for estate planning
https://en.wikipedia.org/wiki/Bankruptcy
Bankrupt is not the only legal status that an insolvent person may have, meaning the term bankruptcy is not a synonym for insolvency
https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
The fair market value of these items is used, not necessarily what you paid for them or what their values were when you acquired them
Sites: en.wikipedia.org (5) · www.uscourts.gov (1) · www.irs.gov (1)