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THE SAUGUS ADVOCATE – Friday, June 19, 2020 Page 19 aavvyvy vy avvy S oreniioor nior io iori by Jim Miller What to Know About Advance Care Planning in the Age of Coronavirus Wht t K Abt Ad C Dear Savvy Senior, All this horrible coronavirus carnage got me thinking about my own end-of-life decisions if I were to get sick. Can you recommend some good resources that can help me create a living will or advance directive, or other pertinent documents? I’ve put it off long enough. Almost 70 Dear Almost, Creating a living will (also known as an advance directive) is one of those things most people plan to do, but rarely get around to actually doing. Only about onethird of Americans currently have one. But the cold hard reality of the novel coronavirus may be changing that. Here’s what you should know along with some resources to help you create an advance directive. Advance Directives To adequately spell out your wishes regarding your endof-life medical treatment are two key documents: A “living will” which tells your doctor what kind of care you want to receive if you become incapacitated, and a “health care power of attorney” (or health care proxy), which names a person you authorize to make medical decisions on your behalf if you become unable to. These two documents are known as an “advance directive,” and will only be utilized if you are too ill to make medical decisions yourself. You can also change or update it whenever you please. It isn’t necessary to hire a lawyer to prepare an advance directive. There are free or low-cost resources available today to help you create one, and it takes only a few minutes from start to fi nish. One that I highly recommend that’s completely free to use is My Directives (MyDirectives.com). This is an online tool and mobile app that will help you create, store and share a detailed, customized digital advance directive. Their easy-to-use platform combines eight thoughtful questions to guide you through the process. If you’re not computer savvy, ask a family member or trusted friend to help you. The advantage of having a digital advance directive versus a paper document is being able to access it quickly and easily via smartphone, which is crucial in emergency situations when they’re most often needed. If, however, you’d rather have a paper document, one of the best do-it-yourself options is the Five Wishes advance directive (they off er online forms too). Created by Aging with Dignity, a nonprofit advocacy organization, Five Wishes costs $5, and is available in many languages. To learn more or to receive a copy, visit FiveWishes.org or call 850-681-2010. Another tool you should know about that will compliment your advance directive is the Physician Orders for LifeSustaining Treatment, or POLST (sometimes called Medical Orders for Life-Sustaining Treatment, or MOLST). A POLST form translates your end-of-life wishes into medical orders to be honored by your doctors. To learn more about your state’s program or set one up, see POLST.org. Readers should also know that if you’ve already prepared an advanced directive paper document, a POLST form or the VA advance directive form 10-0137, you can upload, store and share these documents too at MyDirectives.com. Finally, to ensure your fi nal wishes are followed, make sure to tell your family members, health care proxy and doctors. If you make a digital advance directive or have uploaded your existing forms, you can easily share them electronically to everyone involved. Or, if you make a paper advance directive that isn’t uploaded, you should provide everyone copies to help prevent stress and arguments later. . Send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070, or visit SavvySenior.org. Jim Miller is a contributor to the NBC Today show and author of “The Savvy Senior” book. The Savings Bank launches fundraiser for local healthcare workers W AKEFIELD – To support and honor those who work on the frontlines at local hospitals, The Savings Bank organized a fundraiser to sell Stronger Together wristbands. Proceeds from the sale of wristbands will be donated to COVID-19 Funds at MelroseWakefi eld Hospital and Lawrence General Hospital to support the purchase of essential equipment and help meet the needs of those on the frontlines. The Stronger Together wristbands are available at The Savings Bank’s drive-thru locations in Wakefi eld, Lynnfi eld, North Reading, Andover and Methuen at a cost of $5 per wristband. This program compliments The Savings Bank’s recent donation of headbands with buttons sewn on by Bank staff – to help ease ear pain caused by the elastic on medical masks – to area hospitals and medical centers that serve communities in the Bank’s territory. “The Savings Bank remains focused on thanking and supporting hospital workers who are among the countless frontline heroes continuing to put others before themselves,” said The Savings Bank President and CEO Bob DiBella. “The hospital 1. On June 19, 1865 – Juneteenth – the Emancipation Proclamation was read to African-American slaves in what state? 2. What luxury car’s slogan was “Standard of the World”? 3. In June 1886 what U.S. president (whose last name is the same as a city) got married in the White House? 4. In June 1861 what poet (with initials EBB) died who wrote “How Do I Love Thee? Let me count the ways” (Sonnet 43)? Capital Gains And Trusts ciary would not be subject to the net investment income tax until his income exceeds $200,000 if fi ling single and $250,000 if fi ling married fi ling joint. Therefore, a shift of capital gain income from a Trust to a benefi ciary could save as much as 8.8 percent in taxes. If the Trustee, pursuant to I n certain cases, it might make sense to shift the tax burden of capital gains from a Trust to a benefi ciary of the Trust. Once a Trust’s capital gain income exceeds $12,950, capital gain income will be taxed at a 20 percent federal rate. The rate in Massachusetts for long-term capital gain income is 5.05 percent. Investment income (including capital gains) that is not distributed to a benefi ciary of a Trust will also be subject to an additional “net investment income tax” equal to the lesser of one. The undistributed net investment income or two. The excess of the Trust’s adjusted gross income over $12,750. This tax is an additional 3.8 percent. In contrast, an individual benefi ciary of a Trust will receive the benefi t of a 15 percent capital gains tax rate on long-term capital gains (holding period of one year or more) and qualifi ed dividends until income exceeds $434,550 for a benefi ciary fi ling single and $488,850 for a benefi ciary fi ling married fi ling joint. Also, a Trust benefi - the Trust instrument, has the discretion to distribute income or principal to a Trust benefi ciary, that would allow the Trustee to shift the capital gain income to the benefi ciary. Capital gain income is considered a receipt of principal by the Trust. In order to shift capital gain income to a Trust benefi ciary, there must be a distribution of principal to the benefi ciary in the form of cash or other property. Keep in mind that this strategy would in no way be possible for an irrevocable Trust in the context of MassHealth (Medicaid) planning. An irrevocable Trust cannot allow for any distributions of Trust principal to the Settlor/income benefi ciary of the Trust. If the Trust were to allow for that, MassHealth would consider the assets in the Trust countable for MassHealth eligibility purposes. Those assets in the Trust would then make the applicant ineligible for MassHealth benefi ts. If, on the other hand, the irrevocable Trust was set up for children with no MassHealth eligibility being sought in the future, then such principal distributions may be allowed pursuant to the terms of the Trust. Joseph D. Cataldo is an estate planning/elder law attorney, Certifi ed Public Accountant, registered investment advisor, AICPA Personal Financial Specialist and holds a masters degree in taxation. 5. The Singing Sergeants are part of what U.S. military band? 6. How are choux and puff similar? 7. On June 20, 2005, a Siberian bat that was identifi ed as the world’s oldest small mammal was how many years old: 22, 41 or 83? 8. What is the real first name of Little Orphan Annie’s guardian, Daddy Warbucks? 9. On June 21, 1970, in the FIFA World Cup Final, what soccer team won over Italy? 10. What host of The Tonight Show titled his autobiography “I Kid You Not”? 11. In June what performer got honorary Doctor of Music degrees from Princeton (1970) and Scotland’s University of St. Andrews (2004)? 12. On June 22, 1946, what method of mail transport was fi rst used? 13. Which baseball team’s home park was Candlestick Park? 14. On June 23, 1926, what test for college was fi rst admi nistered? 15. On what old TV series would you fi nd the character Doc Adams? 16. What 1930’s First Lady got around by bicycle in China during the Boxer Rebellion? 17. On June 24, 1916, who became the fi rst female fi lm star with a million dollar contract? 18. What blind Greek is called the father of poetry? 19. What are chitterlings? 20. On June 25, 1997, what coinventor of the aqualung died? ANSWERS staff s continue to care for COVID-19 patients in addition to the many other patients they see day in and day out. They are also preparing for any future COVID-19 surges, and we will continue to show our support.” 1. Texas 2. Cadillac 3. Grover Cleveland 4. Elizabeth Barrett Browning 5. The Air Force Band 6. They are both types of pastry. 7. 41 8. Oliver 9. Brazil 10. Jack Paar 11. Bob Dylan 12. Jet airplanes 13. The San Francisco Giants 14. The SAT 15. Gunsmoke 16. Louise Hoover 17. Mary Pickford 18. Homer 19. Hog intestines 20. Jacques-Yves Cousteau

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