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Sometimes a bankrupt may be able to raise enough funds to make an Offer of Composition to creditors, which would have the effect of paying the creditors some of the money they are owed
from the top result below
https://en.wikipedia.org/wiki/Bankruptcy
However, servants of the debtor could be retained beyond that deadline by the creditor and were often forced to serve their new lord for a lifetime, usually under significantly harsher conditions
https://en.wikipedia.org/wiki/Trust_law
Testamentary trusts may be created in wills, defining how money and property will be handled for children or other beneficiaries
https://en.wikipedia.org/wiki/Power_of_attorney
An attorney-in-fact may be a layperson and is authorized to act pursuant to the powers granted by a power of attorney but may not engage in acts that would constitute the unauthorized practice of law
https://en.wikipedia.org/wiki/Estate_planning
The estate owner's specific goals determine the ultimate goal of estate planning and may be as simple or as complex as the owner's wishes and needs dictate
https://www.uscourts.gov/services-forms/bankruptcy
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https://en.wikipedia.org/wiki/Probate
free encyclopedia
Proving of a will
Not to be confused with Probation
https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
The value of some operating business interests or farms may be reduced for estates that qualify
Sites: en.wikipedia.org (5) · www.uscourts.gov (1) · www.irs.gov (1)