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Page 18 Say nr Sa a y Senior Seni by Jim Miller This is not a scam: Social Security needs you to update your online account Dear Savvy Senior, I recently received an email that I needed to update my online Social Security account. Is this legit or is it a scam? Suspicious Susan Dear Susan, The Social Security Administration did indeed send out a legitimate email last month to notify recipients that they are making changes to the way you access Social Security’s online services, including your personal “my Social Security” account. The changes will simplify your sign-in experience and align with federal authentication standards, while at the same time provide you safe and secure access to your account and other online services. If you created an online my Social Security account before September 18, 2021, you’ll need to shift to a Login.gov account to be able to continue to access your account. Online my Social Security accounts enable both benefi ciaries and people who are not yet receiving benefi ts to access services, including requesting Social Security card replacements, estimating future benefi ts, checking on the status of benefi t applications and managing current benefi ts. The online services aim to save time for both current and future benefi ciaries, as well as the Social Security Administration, as the agency grapples with long wait times for its national 800 phone number. The average speed to answer those calls was about 36 minutes in the second quarter, according to the SSA. The agency is working to bring that average wait time down to 12 minutes by the end of September 2025. Update Your Account If you already have a my Social Security account, go to ssa.gov/myaccount and sign in with your Social Security username. You’ll then be guided through the process of creating a new account with Login.gov. Once you successfully link your personal my Social Security account with your new Login. gov account, you’ll get a confirmation screen and have immediate access to online services. In the future, you’ll sign into your account with Login.gov and not your Social Security username. If you already have either a Login.gov or ID.me account, you do not have to take any action. Beware of Scams To be sure you’re taking the appropriate steps to update your account, it is important to verify any websites or links leading you to the Social Security website. Legitimate Social Security Administration website link is www.ssa.gov and the agency link to my Social Security account is www.ssa. gov/myaccount. It’s very important to be mindful of potential scam artists who may send you fraudulent websites pretending to direct you to Social Security. These sites will closely mimic the format of the agency’s links to try to lure you into entering your personal information. If you see a suspicious email or link, it is best not to respond or click on it. Instead, you can report it to the website of the SSA’s Offi ce of the Inspector General or call the fraud hotline at 800-269-0271. 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. nior ior THE EVERETT ADVOCATE – FRiDAy, AugusT 2, 2024 The Senate has already apBEACON | FROM PAGE 16 proved a diff erent version of the bill and a House-Senate conference committee will try to hammer out a compromise version. (A “Yes” vote is for the bill.) Rep. Joseph McGonagle Yes LONG TERM CARE AND ASSISTED LIVING (S 2889) Senate 39-0, approved a bill making changes to the state’s long term care and assisted living industry which supporters said will take “a powerful step towards delivering the high quality and safe care that Massachusetts seniors deserve by substantially strengthening oversight and enforcement while also requiring facilities to create outbreak plans should a health issue arise.” Provisions include allowing assisted living residences to offer basic health services such as helping a resident administer drops, manage their oxygen or take a home diagnostic test; requiring long-term care facilities to produce infection outbreak response plans; requiring the Department of Public Health (DPH) to inspect facilities every nine to 15 months and authorizing it to restrict or revoke licenses when facilities are failing to provide adequate care or not complying with regulations; allowing for a temporary manager to be appointed to bring fl oundering facilities into compliance; raising penalties that the attorney general can impose for the abuse and neglect of patients; and creating an LGBTQ+ bill of rights for aging residents to prohibit discrimination based on their LGBTQ+ identity or HIV status. “Today the Senate took an important step forward to ensure that our aging residents have safe, equitable and high quality care,” said Senate President Karen Spilka (D-Ashland). “It is far too common—and unacceptable—for residents in assisted living facilities to receive subpar care. By boosting transparency and accountability, the Senate is continuing to create a compassionate commonwealth where all residents can age with dignity.” Sen. Pat Jehlen (D-Somerville), Senate Chair of the Committee on Elder Aff airs, said the bill will improve care and stability in nursing homes and assisted living residences. “The pandemic revealed starkly the lack of nursing home preparedness for the spread of fatal diseases,” said Jehlen. “Many of us knew someone or relatives of someone who passed during that disaster.” “Even homes with consistently high ratings lost many residents,” continued Jehlen. “This bill off ers measures to address issues in nursing homes and assisted living facilities; issues faced by the LGBTQ+ community when looking for care; bariatric care; and pooled trusts. It also ensures facilities that are not compliant with safe standards face consequences and vs. Complex trust A Simple trust ll Trusts for tax purposes are classifi ed into two basic types of Trusts: simple or complex. To determine which type of trust you are dealing with, you must read the terms of the Trust instrument itself. With a simple Trust, the Trustee is required to distribute the income generated by the Trust to the income benefi ciary until some predetermined time period has passed. With a complex Trust, the Trustee is not required to distribute the income generated by the Trust to the income beneficiary. The Trustee has discretion to distribute income. A simple Trust cannot make distributions to charitable organizations. A complex trust can make distributions to charitable organizations. Capital gains are generally considered to be a part of the principal (or corpus) of the Trust and therefore are not distributed to the income benefi ciary of a simple Trust. With a simple Trust, the income beneficiary will be taxed on trust ordinary income such as interest income and dividend income, whether or not it is actually distributed to the income benefi ciary. With a complex Trust, the Trustee has discretion to distribute income to specifi c benefi ciaries pursuant to the terms of the Trust itself. If the income of a complex Trust is not distributed, the Trust itself will pay the tax. If the income is distributed, then the benefi ciary receiving the income will report the income on his or her tax return upon the receipt of a Schedule K-1 form from the Trustee. The benefi ciary will pay the tax on his or her individual income tax return. Income tax rates for complex trusts are signifi cantly higher than for individuals. From a tax standpoint, it often makes sense to distribute income out to the benefi ciaries in order to save substantial tax dollars. For Calendar year 2024, a non-grantor Trust’s income is in the 24% federal tax bracket once taxable income reaches $3,100. It reaches the highest 37% federal tax bracket once taxable income reaches $15,200. In contrast, a single individual does not hit the 37% tax bracket until his or her taxable income reaches $609,350. He or she will only be in a 12% federal tax bracket when taxable income is between $11,600 and $47,150. A Trust will lose its classification as a simple Trust during any year in which the Trustee distributes corpus. A simple Trust is entitled to a very low exemption of $300 to off set income generated by the Trust. A Complex Trust is entitled to an even a lower exemption of $100. A Trust can never be a simple Trust in the year of termination. You must check off one of the boxes on page one of Form 1041 before fi ling a Trust income tax return in order to let the IRS know what type of Trust is involved. 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. are held responsible.” The House has already approved a diff erent version of the bill and a conference committee will attempt to hammer out a compromise version. (A “Yes” vote is for the bill.) Sen. Sal DiDomenico Yes ALSO UP ON BEACON HILL HEALEY SIGNS FIREARMS CHANGES (H 4885) – Gov. Healey signed into law a bill that would change some of the state’s gun laws. Provisions include cracking down on untraceable “ghost guns;” banning fi rearms in additional public spaces like schools, polling places and government buildings; expanding the 2018 “red fl ag” law that allows school administrators and licensed BEACON | SEE PAGE 19

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