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Many states have adopted the Uniform Trust Code, and there are also broad similarities among states' common law of trust
from the top result below
https://en.wikipedia.org/wiki/Trust_law
Trustees have a fiduciary duty to manage the trust for the benefit of the equitable owners
https://en.wikipedia.org/wiki/Estate_planning
Federal income tax purposes, a life insurance trust could be used to pay estate taxes
https://en.wikipedia.org/wiki/Power_of_attorney
If someone is already incapacitated, it is not possible for that person to execute a valid power, although in some jurisdictions, it may be possible for someone to have the capacity to execute a power of attorney even if they do not have the capacity to make the decisions that they are delegating
https://en.wikipedia.org/wiki/Probate
Executors "step into the shoes" of the deceased and have similar rights and powers to wind up the personal affairs of the deceased
https://en.wikipedia.org/wiki/Bankruptcy
Bankrupt is not the only legal status that an insolvent person may have, meaning the term bankruptcy is not a synonym for insolvency