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An estate plan is essential for putting your affairs in order, and it is never too early to do so. You don’t have to wait until you retire to start thinking of how you want to divide up your property or assets. Estate planning involves the drafting of legal documents that lay out exactly how you wish your estate to be distributed after your death. Your estate is comprised of the entirety of your possessions. Your home, vehicle, financial accounts, insurance, and even outstanding debts all form a part of your estate. It doesn’t matter whether your estate is large or small. What is important is that you make the necessary arrangements so that your assets and properties are distributed according to your wishes. Without a proper estate plan, you risk losing these valuable possessions and possibly leaving your family or loved ones with very little to live on in your absence. Failing to establish an estate plan can mean that instead of your affairs being managed by those closest to you, they will be handled by state courts that have no interest in your history or personal wishes. And, without the necessary estate documents, your relatives will have a difficult time altering a court’s decision.

Probate is the process through which a court confirms that your last will and testament is valid and carries out its instructions through the will’s appointed executor. Although this sounds simple enough, different factors can make probate a long and costly process. For example, multiple beneficiaries, assets or properties based across different states, tax requirements, and unusual assets are some issues that may delay proceedings and end up taking a lot of money out of your estate. However, even without these obstacles, probate can be a lengthy procedure. The appointed executor must track down every beneficiary as well as every asset named in the will and ensure that every item is conferred upon the rightful beneficiary. In addition, executors are tasked with arranging for the payment of any outstanding debts owed by the deceased. In instances where a person dies without a will, the probate court will choose an administrator to oversee the disposal of the deceased’s assets and property. However, in the absence of a will, the administrator will use the guidelines set by probate law in order to carry out the task of distributing the estate as opposed to the wishes of the deceased.

Commercial litigation encompasses an area of the law that concerns itself with business disputes. Essentially, any conflict that arises within a business setting can be considered commercial litigation. Among some of the more common instances that lead to commercial litigation are breach of contract, partnership or joint venture disputes, class action, or shareholder issues. Usually commercial litigation takes place between two or more businesses, but it can also happen with a company’s employees, vendors, and distributors. Because it is essential for companies to run as smoothly as possible in order to stay in business, any conflicts that arise must be dealt with as efficiently as possible. As such, commercial litigation allows for disputes to be settled within a wide range of venues, not just in a trial. These can include out-of-court settlement, mediation, or arbitration. In fact, a majority of commercial litigation cases are usually settled before going to trial. The litigation process begins with a plaintiff filing a complaint with the court as well as the defendant. The defendant must then file a response to the complaint, and thus, the lawsuit is initiated and moves forward accordingly. For the most part, the litigants involved in a business related lawsuit seek recovery in the form of financial damages, or the fulfillment or termination of contracts.