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

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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

Federal income tax purposes, a life insurance trust could be used to pay estate taxes

In the context of the unincorporated reciprocal inter-insurance exchange (URIE) the attorney-in-fact is a stakeholder/trustee who takes custody of the subscriber funds placed on deposit with him, and then uses those funds to pay insurance claims

Note that simplified valuation provisions apply for those estates without a filing requirement absent the portability election

Court Programs Bankruptcy Bankruptcy helps people who can no longer pay their debts get a fresh start by liquidating assets