Wills and Trusts
At the Law Firm of Robert T. Hedrick in Raleigh, North Carolina, our attorneys offer the information and advice you need to create or update a will or trust to include your recent purchase of real estate.
In addition, many families will want to use a document called a Trust to maintain some planning and control over how their assets are managed after their death and given to the next generation at the most beneficial times. Trusts can also help protect the privacy of your estate and significantly reduce the expenses of probate – a procedure by which an estate must be registered and an Executor or Administrator appointed by the local circuit court.
We strongly recommend the use of trusts, also known as Revocable Living Trusts (RLT’s) and sometimes irrevocable trusts to help accomplish other goals in addition to avoiding probate. Certain specialized Trusts, used in a timely fashion, can save your heirs significant taxes and the forfeiture or reimbursement to the government of portions of your estate for Medicaid and other programs. Life time gifting and the use of trusts can help you become eligible for government aid in the event that you become incapacitated and need intensive care or treatment.
After death, our attorneys also guide executors and administrators through the North Carolina probate process and advise these fiduciaries in the event of probate litigation such as will contests and inheritance disputes.