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

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

Courts were created under Article III of the Constitution to administer justice fairly

(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

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

The planning includes the bequest of assets to heirs, loved ones, and/or charity, and may include legal tax avoidance

Most relatively simple estates (cash, publicly traded securities, small amounts of other easily valued assets, and no special deductions or elections, or jointly held property) do not require the filing of an estate tax return