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[10] If the property of an estate is not automatically devised to a surviving spouse or heir through principles of joint ownership or survivorship, or otherwise by operation of law, and was not transferred to a trust during the decedent's lifetime, it is generally necessary to "probate the estate", whether or not the
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https://en.wikipedia.org/wiki/Probate
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
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/Trust_law
In the English common law, the party who entrusts the property is known as the "settlor," the party to whom it is entrusted is known as the "trustee," the party for whose benefit the property is entrusted is known as the "beneficiary,"[1] and the entrusted property is known as the "corpus" or "trust property
https://en.wikipedia.org/wiki/Power_of_attorney
The one authorized to act is the agent,[1] attorney, or in some common law jurisdictions, the attorney-in-fact
https://en.wikipedia.org/wiki/Bankruptcy
The Statute of Bankrupts of 1542 was the first statute under English law dealing with bankruptcy or insolvency