Knowing about the Probate and Will Process, Real Estate Law, and Corporate Law

Probate is a court proceeding, which is being undertaken, to establish proof that your will is unquestionably a genuine will and to ensure that your assets are properly distributed to your heirs and creditors, such that this process may take a while to verify, but as long as you have a properly executed and up-to-date will, the process can be fast and less expensive. The process also includes the setting up of deadlines for your appointed representative to comply so he/she can notify your heirs and creditors of your death, as well as transferring your assets to the designated heirs and creditors. Read more great facts on  Corporate Lawyer Edmonton, click here. 

One particular benefit that can come out of probate is with regards to the time allowed for creditors to collect from your estate, which is just about four months, instead of a year.

Real estate law is a process of presiding over who may own and use the land and the buildings in it, and in its proceedings, the process will have to include the following: identifying if the real estate property is residential or commercial and if owned by one person, a conjugal ownership or corporate and whether it is used by the owners or rented; and ascertaining if the purchase of the land was properly transacted and documented, which involves ownership of the land, whether owned solely, corporate or pass between family members through estate planning. In addition, real estate law also presides over determining how the real estate property was used, whether the local zoning laws were complied and whether the landowners took care of their surrounding environment. For more useful reference regarding  Probate and Wills Attorney Edmonton, have a peek here. 

Commercial law, which is also called business law or corporate law, is a system of legal procedures which is applied to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales. The following scopes of application are covered by commercial law: principal and agent, carriage by land and sea, merchant shipping, guarantee, marine, fire, life, and accident insurance, bills of exchange/negotiable instruments/contracts and partnership. Commercial law may also intervene in standardizing regulations with regards to corporate contracts, hiring practices, and the manufacture and sales of consumer goods.

Because of the varying interpretations and administration of statutes of commercial law in each state, this resulted into conflicting interests, which were indirectly causing a disruption on interstate commerce; therefore, a non-governmental body took the initiative of establishing the Uniform Commercial Code (UCC) to remedy the situation, and which established a standardized set of statutes dealing with commercial law, of which each state is free to adopt and use.