The world of law can sometimes be a complex puzzle. When attempting to understand it, many people are confused by terms such as “surrogate court.” In this article, we will look at what exactly a surrogate court is, and why it might be important to both legal practitioners and business professionals alike.
What Is a Surrogate Court?
A surrogate court is a special court, typically set up by a state legislature, with the purpose of handling legal matters involving the deceased, such as wills and estates, as well as guardianships and adoptions. This court is responsible for a variety of tasks, including the interpretation of wills and codicils and distributing assets from estates. It will also handle disputes between claimants who wish to be named beneficiaries, and petitions for guardianship for any minors or incapacitated adults that are involved.
Benefits to Business Professionals
Surrogate courts are often used to address a number of issues that might arise with companies and business entities. One such issue might involve resolving disputes regarding succession. Surrogate courts can also be utilized for the adoption of corporate entities. This could be particularly beneficial in cases involving distressed companies, where the shareholders may seek to appoint a new board of directors.
The Big Picture
Overall, surrogate courts are an invaluable part of the legal system that provide important protections and services for those engaging in business and personal matters. While they may not be the most glamorous part of the legal profession, they are an important piece of the puzzle. By being aware of the functions and applications of surrogate courts, business professionals are better equipped to navigate a wide variety of legal issues.