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By Jason Carrozza

Hi Everyone,

Happy Wednesday! I’d love to say Happy Spring, but it’s still freezing and there’s snow in the forecast! Although the weather may not be perfect, a couple of things to look forward to are the Estate Planning Basics Workshops we have scheduled for April. The first is April 5th at 6:30 pm at the Medway High School and the second is April 26th at 6:30 pm at the Mansfield Library as part of Money and Finance week. Both require registration and more information can be found here: Please pass along the information to anybody you may know who’s interested.

This week we’re talking about the flow of your money. Many people do not know the state of their financial affairs or how their money will be distributed and/or handled when they pass away. Typically, one spouse is in charge of the finances and the other spouse knows very little about the couple’s overall wealth strategy. This situation creates chaos in the midst of grief if there is a loss.

The U.S. Census Bureau reported that 800,000 Americans lose their spouses each year, and 700,000 of them are women. Although losing a spouse may be the last thing you want to think about, here are some questions to consider now so you don’t have to worry about these details in the event of the unexpected:

  1. Do you know where your estate planning documents are stored? When was the last time they were updated?
  2. Do you have life insurance? If so, have you designated proper beneficiaries?
  3. Where are pension and retirement plans? Have you designated proper beneficiaries?
  4. When was the last time you spoke with your financial advisor or created a financial plan? Are you happy and familiar with the person managing your money?
  5. Do you have the necessary documentation in place should you lose capacity?

Nobody likes to think about death, but reviewing the above list can save much heartache later. If you need help answering any of the above questions or would like sit down and review your estate plan, please contact us today.

Until next time,

About the Author
Jason M. Carrozza is a partner and founder of Family Legal Partners, P.C., previously owning Carrozza Law Office, P.C., which focused on estate planning, probate administration, and business formation. He was recognized as a Massachusetts Rising Star by New England Super Lawyers and Boston Magazine in 2014, 2015, and 2016, an honor given to no more than 5% of attorneys in the state. Graduating magna cum laude from New England Law and ranked 3rd in his class, Jason completed his undergraduate degree at the University of Tampa. He gained experience in civil litigation, divorce, corporate, and insurance defense law firms before opening his practice in 2004. Jason is admitted to practice before the Massachusetts Courts, is a trained family law mediator, and a member of the Massachusetts Council on Family Mediation. He has volunteered for pro bono panels with Senior Partners For Justice, South Middlesex Legal Services, and the New Center for Legal Advocacy. Dedicated to his community, he has served in various leadership roles including vice president of the Bellingham Business Association and Master of Excelsior Lodge of Massachusetts Freemasons. He teaches Estate Planning Basics at the Tri County Continuing Adult Education program and speaks at estate planning seminars throughout the year. An avid baseball fan and history enthusiast, Jason enjoys outdoor activities and spending time with his family. He lives in Massachusetts with his wife, Katrina, and their children, Zachary and Madelyn.