Posted on
Share on Facebook
Share on X
Share on LinkedIn
By Jason Carrozza
Attorney

Hi Everyone,

Happy Wednesday and Happy Holidays!!! This year has moved so swiftly now and we’re gearing up for an even faster 2017. As I’ve talked about previously, year-end is the perfect time to get your legal and financial affairs in order. As people are doing their year-end housekeeping one of the questions that I am asked quite frequently is, “Do I have an estate plan?”

What does having an estate plan truly mean? If I have a Will, do I have an estate plan? What is an estate plan truly comprised of?

A comprehensive estate plan is a set of various documents that addresses who will make medical and legal decisions for you if you lose mental capacity AND where your assets will be directed, how they are going to get to the ultimate beneficiaries, and who is going to oversee that process and ultimate distribution. The following is a list of documents that comprise a comprehensive estate plan:

  • Last Will and Testament
  • Family Trust
  • Power of Attorney
  • Medical Proxy
  • HIPAA Release
  • Living Will/Advanced Directive

A detailed explanation of the above documents can be found here.

The bottom line is that your comprehensive estate plan should address not only the transfer of assets, but also who will make necessary decisions for you in the event of your incapacity.

If you feel like your estate plan could use an update or you are missing any items from the above list, please contact us today. Let’s make sure you start 2017 off right.

Until next time,
Amy

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.