Page 8 THE MALDEN ADVOCATE–Friday, May 22, 2026 RALLY | FROM PAGE 7 Malden needs a Senator who never forgets where he comes from and always delivers for Massachusetts.” “Senator Ed Markey is Malden’s greatest champion- he delivers for the people he serves because he always remembers the streets where INSPECTIONAL SERVICES 215 Pleasant Street, 3rd Floor Malden, Massachusetts 02148 (781) 397-7000 ext. 2044 he grew up,” said City Councillor Carey McDonald. “He brings urgency and experience to fight for stronger neighborhoods, better roads and sidewalks, affordable housing, reliable public transit, clean air and water, and support for our working families and seniors. I’m proud to support his re-election because Malden deserves a Senator who knows us and fights for us.” Senator Markey thanked his hometown leaders for their endorsement: “Malden is where I am from and Malden made me who I am today,” RALLY | SEE PAGE 10 City of Malden Massachusetts MALDEN PLANNING BOARD PUBLIC HEARING The Malden Planning Board will hold a public hearing in the Herbert L. Jackson Council Chamber, Malden City Hall, 215 Pleasant Street, Malden, MA at 7:00 P.M. on Wednesday, June 10, 2026 on the petition of Jennifer Tina LeGarde of Big Daddy Daycare on behalf of Craig E. Richards (Permit Application # COO-075099-2025) seeking a special permit under Title 12 of the Code of the City of Malden, Section 12.12.030, to allow use of property in the Neighborhood Business zoning district for a kennel, namely, to add boarding service to an existing doggie daycare in the basement of an existing building, at the premises known as 10 Maplewood Street, located at the property known as and numbered 2-8 Maplewood Street, Malden and known by City Assessor’s Parcel ID# 134 686 609. Petition and plans are available for public review in the City Hall, Inspectional Services Department, 215 Pleasant Street, Room 330, Malden, MA and on the City website under Permit Application # CMID-COO-075099-2025 at https://maldenma-energovweb.tylerhost.net/apps/SelfService#/home By: Diane Chuha Clerk May 22, 29, 2026 Home of the Week Offered at $699,000 Berkshire Hathaway HomeServices Commonwealth Real Estate Formerly Carpenito Real Estate LYNN - Welcome to this well-maintained Cape-style home located in Veteran's Village were pride of ownership shines throughout. This charming 3-bedroom home offers a warm and inviting layout, featuring a formal fireplace Livingroom and a dedicated dining room perfect for entertaining. The eat in kitchen flows seamlessly into a spacious family room addition, at the rear of the home, highlighted by large windows and 2 skylights that fill the space with natural light. The first floor also includes a full bathroom and the convenience of first floor laundry. Upstairs you will find 2 generously sized bedrooms, each offering double closets and built in drawers and an additional full bathroom. The basement provides excellent potential and includes a second laundry hookup. Major updates are a new heating system, hot water tank, oil tank and updated electrical. Enjoy outdoor living with a generous size back yard featuring a deck off the back of the house plus and additional covered side deck. (781) 233-7300 335 Central St. Saugus commonmoves.com ©2024 BHH Affiliates, LLC, An independently owned and operated franchisee of BHH Affiliates, LLC, Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Equal Housing Opportunity. Beneficiaries of tax deferred annuities have the ability to execute an Internal Revenue Code Section 1035 tax free exchange pursuant to Internal Revenue Service Private Letter Ruling 201330016. This involves a non-IRA annuity. The beneficiary will then have the option of stretching out payments over his or her life expectancy under Internal Revenue Code Section 72(s). The beneficiary also has the option of receiving each monthly payment in a tax efficient manner by utilizing the exclusion ratio contained in certain products offered by insurance companies. Each payment would contain a certain portion that is non-taxable representing a return of the initial investment. Each payment would also contain a certain portion that is taxable representing built-in gain in the tax-deferred annuity. In a typical tax-deferred annuity, if you invested $100,000 and it is now worth $200,000, the first $100,000 of withdrawals would represent taxable income. The earnings are withdrawn first. Once the earnings are exhausted, then the remainder would represent a non-taxable return of the original investment. If you are the beneficiary of a tax-deferred annuity with a substantial amount of built-in gain (i.e. taxable income), you ANNUITIES AND 1035 EXCHANGES might consider not cashing out the policy as that would result in a significant amount in federal and state income taxes. You might consider executing a tax-free 1035 transfer into a new annuity policy in your name alone. This would allow you to invest as conservative or as aggressive as you wish based upon your risk tolerance, risk capacity, priorities, goals and objectives. You can receive payments over a long time horizon resulting in much greater tax efficiency and a better opportunity to provide for retirement income. Upon the death of the annuitant of a tax deferred annuity, a beneficiary must withdraw all of the funds in the annuity by the end of the fifth year following the annuitant’s death. The beneficiary can withdraw all of the monies in year one, take monthly withdrawals over the five year period or wait until year five to withdraw all of the monies. If an annuity is held in a taxable IRA account, a non-spouse beneficiary must withdraw all of the funds by the end of the 10th year following the IRA owner’s death. A spouse can roll the IRA annuity into his or her own IRA and continue with tax deferral until required minimum distributions (RMD’s) are required which is at age 73 for people born prior to January 1, 1960. For those born January 1, 1960, or later, the RMD age is 75. This was provided for in the Secure Act 2.0. So long as you are provided with options, you then can make the decision that is best for you. There are no right or wrong answers. Everyone’s situation is different. 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. Like us on Facebook advocate newspaper Facebook.com/Advocate.news.ma
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