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THE EVERETT ADVOCATE – FRiDAy, ApRil 24, 2026 Page 11 MCGONAGLE | FROM PAGE 9 Estate Planning After The Big Beautiful Bill W ith the passage of the Big Beautiful Bill back on July 4, 2026, estate planning for most of Americans will no longer be concerned with the federal estate tax. The federal estate tax exemption is now $15million per person, or $30million for a married couple. Very few Americans have an estate valued more than that. A single person can therefore pass federal estate tax free to the next generation a total of $15million. A married couple can pass federal estate tax free to the next generation a total of $30million. Estate planners now are concerned with estate taxes assessed at the state level and of course the usual issues of avoidance of probate, protection from a nursing home, desired distributions of your estate, etc. Twenty-fi ve years ago, almost all states and the District of Columbia had an estate tax. Today, only 12 states impose an estate tax. Four states assess an inheritance tax. The State of Maryland has both an estate tax and an inheritance tax. Massachusetts requires an estate tax return to be fi led when the gross estate is over $2million. A married couple can therefore pass $4million estate tax free to the next generation with proper planning. It would be great if Massachusetts at least adopted portability so that Massachusetts residents would not have to be faced with more complicated estate planning such as the use of QTIP share/remainder share estate planning trusts. Why not allow the first spouse to die to pass along his or her $2million exemption to the surviving spouse via portability? The federal government allows for this. At the federal level, an estate tax return would have to be fi led upon the fi rst spouse to die in order to achieve portability of his or her $15million exemption. Portability simply allows the fi rst spouse to die to transfer his or her $15million exemption to the surviving spouse which would then result in the survivship, as well as Chair Arciero for his collaboration,” said State Representative Michael Finn (D-West Springfi eld), who is House Chair of the Legislature’s Joint Committee on Bonding, Capital Expenditures and State Assets. The legislation authorizes $300 million (M) in bonding for the Chapter 90 Program and additional programs. The one-year authorization in Chapter 90 Program funding includes: • $200M will be distributed to all municipalities based on the standard Chapter 90 Program distribution formula. • $100M will be distributed to all municipalities based solely on road mileage. Additional programs to suping spouse having a $30million federal estate tax exemption. A federal estate tax return is required even though no estate tax is due. The same could be true for Massachusetts residents. This might be one more reason for Massachusetts residents not to leave the state. Many are leaving to avoid the Massachusetts estate tax. They can go right up to New Hampshire and never have to worry about overly-complicated estate planning and an estate tax. Maybe residents are moving to Florida as well. If Massachusetts is not going to eliminate the estate tax altogether, at least provide for portability. This way, married couples will most likely be able to easily pass estate tax free $4million of assets to the next generation as opposed to $2million if no advanced planning is implemented. The 4% millionaire’s tax on income over $1million creates another incentive for wealthy Massachusetts residents to move to another state. Most taxpayers now are looking for appreciated assets to be included in their taxable estate in order to achieve the step up in cost basis so that when their children inherit these assets and subsequently sell them, no or little capital gains tax will have to be paid depending upon when those assets are ultimately sold. Now more than ever, not having to worry about a federal estate tax is the reason they want these assets included in their taxable estate. Joseph D. Cataldo is an estate planning/elder law attorney, Certifi ed Public Accountant, Certifi ed Financial Planner, AICPA Personal Financial Specialist and holds a masters degree in taxation. port various transportation-related projects, totaling $1.1 billion, include: • $500M for the Lifecycle Asset Management Program (LAMP), which aids non-federally funded roads and targets the pavement and bridges in the Commonwealth that are in the worst condition • $200M for capital projects to support housing development, including stormwater management, culverts and bike and pedestrian improvements • $200M for a new accelerated deferred maintenance and modernization program for infrastructure under the care and control of the Department of Conservation & Recreation (DCR) • $200M for the MBTA for the procurement of electrically powered locomotives The legislation also reauthorizes $3.18 billion in funding for several programs included in the 2022 Transportation Bond Bill, such as: • $2.3 billion for projects on interstates and other federally aided highways • $800M for improvements to non-federally aided roadways and bridges • $65M for the Municipal Pavement Program for engineering, permitting, design and climate change adaptation on municipal ways • $12M for grants for the Shared Streets Program for improvements and projects to municipal streets to create additional capacity for pedestrians and cyclists Having been passed by the House of Representatives, 155-0, the bill now will be considered by the Senate. Sa Sa a Say y Senior enior Sen by Jim Miller Where to Get Help with Medicare Decisions Dear Savvy Senior, I’ll be 65 in a few months and could sure use some help sorting through all the confusing Medicare options that are available to me. Where can I get help with my Medicare decisions? --Baffl ed Bob Dear Bob, With around 11,400 Baby Boomers turning 65 every day in 2026, you’re asking a very timely question. Many people approaching Medicare are confused by all the choices available today. In addition to original Medicare (Part A and B) that has been around for more than 60 years, you also have the option of enrolling in a Part D prescription drug plan, and a supplemental (Medigap) policy – both of which are sold by private insurance companies. Another option is a Medicare Advantage plan. These plans, also offered by private insurers, bundle hospital coverage, medical care, prescription drugs, and often extra benefi ts like vision, dental, and hearing into one policy. Most operate as HMOs or PPOs and require you to receive care within a defined network of providers in your area. Medicare Advantage plans have also faced increased scrutiny in recent years over prior-authorization requirements that can delay or deny certain services. To help you determine which path makes the most sense for your situation, there are several reliable resources available, depending on how much assistance you need. Tools and Resources A good starting point is the “Medicare & You” handbook, which provides a clear overview of the program and your options. You can download a copy at medicare.gov/medicare-and-you, and you should receive a printed version in the mail about a month before your 65th birthday. The Medicare website also features a helpful “Find a Medicare Plan” tool at medicare.gov/plan-compare that allows you to compare health plans, prescription drug coverage, and supplemental policies available in your area. If you prefer to speak with someone directly, call Medicare at 800-633-4227, and a representative can walk you through your options over the phone. Another excellent free resource is your State Health Insurance Assistance Program (SHIP), which provides unbiased Medicare counseling either in person or by phone. To locate your local SHIP offi ce, visit shiphelp.org or call 877839-2675. You can also contact the Medicare Rights Center (medicarerights.org) at 800-3334114 for help with specific questions. In addition, HealthMetrix Research publishes a free Cost Share Report at medicarenewswatch.com that compares Medicare Advantage plans by area based on cost-sharing and health status. Get Help If you’d like more handson help, you can work with a Medicare insurance agent. Keep in mind that agents are paid commissions by insurance companies, so it’s important to choose an independent agent who represents multiple insurers – not just one. That gives you access to a broader range of options. Also understand that commissions are typically higher for Medicare Advantage plans than for Medigap and Part D policies used with Original Medicare. As a result, some agents may have a fi nancial incentive to recommend Advantage coverage. That doesn’t mean the advice is wrong, but it’s wise to ask questions and understand all your choices before enrolling. You can search for licensed agents through nabip.org, the website of the National Association of Benefi ts and Insurance Professionals. Taking the time now to compare your options carefully can help you avoid costly mistakes and give you confi dence in the coverage you choose. Send your questions or comments to questions@savvysenior.org, or to Savvy Senior, P.O. Box 5443, Norman, OK 73070. nr ior

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