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

Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts

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

Court Role and Structure The judicial branch is one of the three separate and distinct branches of the federal government

(April 2022) (Learn how and when to remove this message) Power of attorney A power of attorney (POA) or letter of attorney is a written authorization to represent or act on another's behalf in private affairs (which may be financial or regarding health and welfare), business, or some other legal matter

Estate planning or inheritance planning is the process of anticipating and arranging for the management of a person's estate or net worth during the person's life in preparation for future incapacity or death

is a legal relationship in which the owner of property, or any transferable right, gives it to another to manage and use solely for the benefit of a designated person