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https://en.wikipedia.org/wiki/Bankruptcy
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
https://en.wikipedia.org/wiki/Trust_law
"[2][3] A testamentary trust is an irrevocable trust established and funded pursuant to the terms of a deceased person's will
https://en.wikipedia.org/wiki/Power_of_attorney
Formerly, the term "power" referred to an instrument signed under seal while a "letter" was an instrument under hand, meaning that it was simply signed by the parties, but today a power of attorney does not need to be signed under seal
https://en.wikipedia.org/wiki/Estate_planning
Federal income tax purposes, a life insurance trust could be used to pay estate taxes
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://en.wikipedia.org/wiki/Probate
After the testator dies, the person named in the will as executor can decline or renounce the position, and if so should quickly notify the probate court accordingly
https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
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Sites: en.wikipedia.org (5) · www.uscourts.gov (1) · www.irs.gov (1)