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The future ramifications of omitting assets from schedules can be quite serious for the offending debtor
from the top result below
https://en.wikipedia.org/wiki/Bankruptcy
Rogoff, "Although the development of international capital markets was quite limited prior to 1800, we nevertheless catalog the various defaults of France, Portugal, Prussia, Spain, and the early Italian city-states
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
a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the jurisdiction where the deceased resided at the time of their death
https://en.wikipedia.org/wiki/Estate_planning
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https://en.wikipedia.org/wiki/Trust_law
A court of competent jurisdiction can remove a trustee who breaches their duty
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://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
Note that simplified valuation provisions apply for those estates without a filing requirement absent the portability election
Sites: en.wikipedia.org (5) · www.uscourts.gov (1) · www.irs.gov (1)