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THE MALDEN ADVOCATE–Friday, February 23, 2024 Page 15 OBITUARIES Marjorie (Pothier) Crocker Of Malden. On February 13th. Devoted wife of the late Frederick A. Crocker. Beloved mother of Barbara Mariani and her partner Shalom Zilber of Malden. Cherished grandmother of Gina Mariani and her partner Jesse Mower of Lynn and Rocco Mariani and his partner Lynda Johnson of Malden. Sister of the late Fr. Franklin Pothier. Family and friends were invited to attend a Funeral Service in BASEBALL | FROM PAGE 12 record conceivable. His senior year, shortly after registering 50 hits and knocking in 51 runs in just 23 games, he had an outrageous .551 career batting average as Malden High’s best-ever baseball star. Cappuccio was awarded the Boston Globe’s inaugural award as the top male athlete in the state of Massachusetts. A stellar collegiate career followed. Baseball paid for his college education at national power Rollins College in Winter Park, Fla., where he set every hitting record there was and was a three-time NCAA Division II All-American selectee and a First Team selectee in 1989 (as just a freshman), 1990 and 1992. A freak knee injury running down to first base, legging out a single, in the first inning of the first game of his junior year, in the spring of 1991, sidelined him for the entire season after he underwent ACL repair surgery. Still, despite the injury and missing the entire season, Cappuccio was drafted in the 30th round of the Major League Baseball selection by the Chicago White Sox. Heading into his junior season, before the injury, he was a two-time NCAA All-American pick, rarely seen at any level or time in college baseball, and projected as a top three rounds pick in June 1991. The White Sox still wanted him, but did have much to offer financially for the 30th round so Cappuccio continued his rehabilitation and went to earn an economics degree and play and graduate his senior year. A ninth-round draft choice by ChiSox in 1992 Fully recovered, another banthe Carroll Funeral Home, Malden on Tuesday, February 20th. Services concluded with interment at Forest Dale Cemetery, Malden. In lieu of flowers, memorial contributions may be made to St. Jude Children's Research Hospital, 501 St. Jude Place, Memphis, TN 38105 or to North East Animal Shelter, 347 Highland Avenue, Salem, MA 01970 Richard R. “Dick” Fraser A retired Landscape Architect, passed away on Wednesday, February 14th, at the age ner year for Cappuccio came his senior year at Rollins in 1992, with a virtually unprecedented third NCAA All-American selection and another shot at the draft. The White Sox came knocking again, selecting him in the ninth round, with the 251st overall pick. It was the highest a Malden resident had ever been drafted by a Major League Baseball franchise and the first MLB draftee from Malden – in any round– in decades. A professional baseball career awaited and Cappuccio hit the ground running, and being a polished college star at the age of 22, was assigned to the Short Season Single-A South Bend (Ind.) White Sox, in the Midwest League, in the shadow of “Touchdown Jesus,” the home of Notre Dame. There were not one, but two angles to the team Cappuccio grew up rooting for, the Boston Red Sox, that season. First, his first-ever pro baseball manager was none other than Terry “Tito” Francona, who was in his first coaching gig to boot. The other Sox angle was when Hall of Famer Carlton Fisk, then with the White Sox, showed up one day during that 1992 season in South Bend on a rehab stint. Fisk proceeded to hit a home run in the first of three games he played, his first minor league round-tripper since 1971. Cappuccio was doing fine in his pro debut season. He was leading the South Bend Sox in hitting as the season was winding down, at a .291 clip in a platooning role in the outfield and at designated hitter. In early August, he was shipped farther east to the Utica (N.Y.) Blue Sox, along with teammate and fuof 93. He was husband of the late Geradine Fraser, father of daughter Lee Fraser and the late Robert Fraser, and grandfather of Beau Fraser. Richard was born in Norwood in 1930, the son of Harry and Helen Fraser. He was raised and educated in Norwood, graduating from Norwood High School with the Class of 1948. After high school he attended UniversiOBITS| SEE PAGE 16 ture 17-year major leaguer Mike Cameron, to bolster their bench for a playoff run. After an offseason working out in the Malden area with renowned hitting instructor Walt Hriniak, Cappuccio went off to his first spring training with Chicago in February 1993 in Sarasota. He showed enough to be placed on the High Single-A roster of the Sarasota White Sox, but after a slow start, which saw him slip under .200, he was placed back in South Bend with the newly named Silver Hawks and a new manager, Tony Franklin. Big season in 1993 at South Bend for Malden slugger Cappuccio thrived that 1993 season, establishing himself as an up-and-coming White Sox hitting prospect – helping lead South Bend to a Midwest League Championship. He hit .305 with four homers and 52 RBIs in 101 games. He was among the team leaders in extra base hits (26 doubles, 6 triples) and led all everyday players in OPS (.813). Cappuccio was a key man in a strong outfield contingent, which included the likes of Cameron and another future major leaguer, Jimmy Hurst, who hit 20 home runs that season. The next season, in spring of 1994, looked like it could be a big one as to moving up the Chicago White Sox baseball ladder... for all three prospects. —Coming next week, Part Two: How Michael Jordan’s foray into professional baseball 25 years ago in 1994 had a ripple effect locally. REAL ESTATE TRANSACTIONS BUYER1 THALI, AMOGH BUYER2 SELLER1 DEJESUS, MARCIO SELLER2 CAPITAL GAINS TAX EXCLUSION AND IRREVOCABLE TRUSTS ½ of the capital improvements attributed to wife, or $15,000. Selling expenses of $25,000. In this example, the cost basis P eople often question if they transfer their principal residence into an irrevocable trust, will they still be entitled to the capital gains tax exclusion upon a subsequent sale, pursuant to Internal Revenue Code Section 121. The answer is yes. A married couple filing a joint income tax return has the right to exclude up to $500,000 of capital gain on the sale of their principal residence. The limit is $250,000 for a single taxpayer. The capital gain is simply the difference between the selling price and the cost basis of the home. The cost basis of the home is determined by adding the original purchase price, plus capital improvements over theyears as well as expenses associated with selling the home such as a broker’s commission, tax stamps, legal fees, fixing up expenses and any other expenses associated with the sale. In some cases, you also have the benefit of using the date of death value as part of the cost basis if one of the spouses were to die. For example, if husband and wife purchased a home 25 years ago for $250,000 and the husband died 10 years ago when the home’s value was $350,000, upon a subsequent sale of the home by the wife, the cost basis is computed as follows (also assume capital improvements prior to husband’s death were $30,000 and selling expense were $25,000): ½ of the $250,000 purchase price is allocated to wife, or $125,000. She only owned 50% of the home. ½ of the fair market value of home at the time of husband’s death is $175,000 ($350,000 x ½, since the husband only had a 50% interest in the home at the time of his death). would be $340,000 ($125,000 + $175,000 + $15,000 + $25,000). If the home were sold for $575,000, the capital gain would be $235,000. The entire gain would be non-taxable. Since the husband passed away, one half of the fair market value of the home at thetime of his death enters into the calculation of the wife’s cost basis. This is referred to as the “step-up in cost basis”. For the $500,000 capital gains tax exclusion to apply, the married couple must have lived in the home for 2 out of the previous 5 years prior to the actual sale. Since the irrevocable income-only trust is designed to qualify under the “grantor-type” trust rules, the law treats the Settlors/Donors/Grantors of the trust as the owners for tax purposes. What makes the trust a grantor-type trust for capital gains tax purposes is the reserved right in the Settlors to direct where the trust principal and/or income of the trust can go during the Settlors’ lifetime. In accordance with Internal Revenue Code Section 674(a), this retained power is what makes the trust a grantor-type trust for capital gains tax purposes, thereby preserving the capital gains tax exclusion. This is referred to as a lifetime special power of appointment. Most often, a lifetime special power of appointment and a testamentary special power of appointment provision is included in an irrevocable Trust. The testamentary special power of appointment is designed to allow the Settlor the ability to change the ultimate beneficiary of the Trust by exercising that power of appointment via the Settlor’s Last Will and Testament being submitted to a probate court upon death. A power of appointment is essentially a power to redirect where the Trust principal will go. This also results in an incomplete gift for gift tax purposes. Joseph D. Cataldo is an estate planning/elder law attorney, Certified Public Accountant, Certified Financial Planner, AICPA Personal Financial Specialist and holds a master’s degree in taxation. Copyrighted material previously published in Banker & Tradesman/The Commercial Record, a weekly trade newspaper. It is reprinted with permission from the publisher, The Warren Group. For a searchable database of real estate transactions and property information visit: www.thewarrengroup.com. ADDRESS 13 PRESTON ST CITY MALDEN DATE 01.22.24 PRICE 755000\

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