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Frequently Asked Questions
At Hillsborough Wills and Trusts, we combine the strengths of estate planning, elder law, and special needs law to develop a comprehensive, customized plan specifically designed to accomplish your goals and strengthen your family.
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The specific details of your documents will depend on your individual situation, but we recommend that every client have the following:
A Strong Will or Trust – Establishes your plan for distributing or managing your assets after your death
A Financial Power of Attorney – Identifies an agent to manage your resources in a time of need
A Health Care Power of Attorney – Names a person you trust to be your health care agent if you are incapacitated
A Living Will or Advance Directive for a Natural Death – Guides end-of-life matters
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A Revocable Living Trust is a legal entity that allows you to avoid the time, cost, and stress of the probate process. During your lifetime you are the trustee and you continue to control all of the assets in the Trust. At your death or incapacity, you can name a successor trustee to manage your resources following your directions in the Trust. No court supervision is needed and the process is private.
You should consider a Revocable Living Trust:
If you want to avoid a full probate process upon death, which may be time consuming and involve family conflict.
If you want continued management of your assets if you become incapacitated by accident or sickness.
If you want to manage inheritances for your children or others so that distribution takes place over time and with stipulations.
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While estate planning deals with your belongings after your death, elder law focuses on improving the quality of your life by putting in place legal documents designed to preserve your independence and dignity. Documents such as a durable power of attorney, healthcare power of attorney, and living will allow you to designate people you trust to help you if you are ever unable to manage your own finances or make your own healthcare decisions. At Hillsborough Wills and Trusts, we build in special provisions about long-term care, Medicaid, taking care of pets, etc., to provide strong documents designed to help you retain control and avoid the need for a court-appointed guardian.
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Over 30% of individuals 65 years or older will receive long-term care in a nursing home. The cost of a nursing home can reach and exceed $80,000 per year. The only public benefits program that pays for long-term nursing home care is Medicaid but qualification requires that applicants spend down their own funds first, until they only have $2,000 in “countable” assets. An attorney can help structure your resources to maximize your non-countable assets. A modest amount of planning early on can save resources that may be in jeopardy when a medical crisis arises.
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IWhether you own a lot or a little, estate planning gives you the opportunity to decide how you want your belongings to be managed and distributed when you are gone. Estate planning creates legal documents (such as wills and trusts) so that when you pass away, your belongings will go to the people or charities that are important to you. At Hillsborough Wills and Trusts, we help you create an individualized estate plan, so you will have peace of mind knowing that your wishes will be met and that you did everything you could to make things easier for your loved ones. tem description
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Special needs law uses tools such as Supplemental Needs Trusts and Special Needs Trusts to provide someone with financial support while preserving eligibility for government assistance programs. Such tools can be helpful for people who have mental and physical conditions that might increase their medical costs and make it difficult for them to manage their own finances.
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Most people don’t know exactly what they want when they first contact us. That is okay. Learning about your options and talking about these issues is part of the estate planning process. Our attorneys are here to answer your questions and help you think about these topics.
It is also good to remember that the plan you create now does not need to be the same plan for your entire life. You can always make updates as your situation changes. In fact, we recommend revisiting your plan occasionally over the years, and we are happy to help you update any of your documents at any time.
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Yes. We provide a free initial consultation to answer your questions and talk with you about your situation and your goals. We will help you understand the differences between wills and trusts, discuss your options to protect your assets, and help you develop a plan to provide for your family and prepare for end-of-life issues.
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We want to make the process as simple and easy as possible, so we will work with your schedule. Some people know exactly what they want and can move quickly. Others need more time to think about the details and discuss options with their family.
Although it depends on your situation, the process generally takes about 4 hours of your time spread over the course of a few weeks. First, you will meet with an attorney during a free consultation to discuss your goals and options. A few weeks later, you will meet with your attorney to review drafts of your legal documents. Your attorney will answer any questions and make any changes or updates. A few days later, your documents will be signed, witnessed, and notarized, and you will have a completed estate plan designed to meet your needs and strengthen your family.
Throughout the process, you can always take all the time you need to talk with the attorney, ask questions, think about your options, change your mind, etc. We are here to help you, at your pace.
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We understand that it can be difficult and expensive to arrange childcare, so we invite you to bring your children with you when you meet with us. We will meet with you in our conference room where we have a toy box and space for your young children to play. We are here to help you get the legal documents necessary to protect your children and provide for their futures, and we are happy to do whatever we can to make the process as easy as possible.
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Our office is in downtown Hillsborough at 128 W. Margaret Street - a couple blocks from Weaver Street and directly across from the public library.
We have convenient parking in the driveway next to our office exclusively for our clients. If the driveway is full, the Eno River Parking Deck is within close walking distance.
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In addition to our front entrance, we have a ramp-accessible back entrance to the office. For clients who find it very difficult to get around, we are happy to work with you outside if possible, so that you never have to get out of your car. If you have any concerns about accessibility, please contact us.