THE MALDEN ADVOCATE–Friday, May 23, 2025 Page 17 OBITUARIES Claire M. (Johnson) Chalmers A lifelong resident of Malden, passed away in her home on Wednesday, May 14th, at the age of 95. She lived a long and fulfilling life marked by an unwavering devotion to her loved ones and a deep-seated compassion for those around her. Claire was born in 1929, the daughter of Arthur and Elin Johnson. She was raised and educated in Malden, graduating from Malden High School with the Class of 1947. Claire loved music and was the 2nd violinist in the Malden High School Orchestra. She then attended the Katherine Gibbs Secretarial School in Boston. Upon her graduation, she went to work for the Hodgen and Company Investment Firm. In 1953, she married her sweetheart, Charles H. Chalmers, and the two settled down in Malden to raise their family. They shared nearly 40 years of marriage until Charles’ passing in 1992. She was a dedicated mother, grandmother, and great grandmother, and treasured spending time with all of the grandchildren and great grandchildren. Claire’s greatest joy in life was her family. She was a devoted wife to her late husband, Charles, and together they built a home filled with warmth, laughter, and unconditional love. She was a cherished mother to her two sons, Charles Jr. (and wife, Lisa), and David (and wife, Amy), and beloved grandmother to her grandsons and great-grandchildren. Claire poured her heart and soul into nurturing her family, always offering a listening ear, a delicious meal and unwavering support. Family gatherings were her favorite occasions, and her home was always open to those she held dear. Beyond her family, Claire possessed a remarkable capacity for caring for and serving others. Her gentle nature and empathetic spirit made her a source of solace to many during difficult times. Her door was always open and no one ever left Claire’s home without something to eat and warm conversation. As a young mother, Claire was active in her community. She served as Den Leader for Cub Scout Pack 619 while her sons were active in Cub Scouting. Claire was always active in her church. She served as co-treasurer with her husband for many years. And made endless pounds of fudge for the annual Christmas fair. Claire’s gentle spirit and loving heart have left an indelible mark on this world. She will be forever remembered for her unwavering love for her family and her selfless dedication to caring for others. Claire is survived by her children, grandchildren, great-grandchildren, and many nieces and nephews. She was predeceased by her beloved husband, Charles, and her brother, Arthur. Visitation was held at the Weir-MacCuish Golden Rule Funeral Home, on Monday, May 19th. A memorial service to celebrate Claire’s life was held at the Good Shepherd United Methodist Church, Malden on Tuesday. Interment followed in Puritan Lawn Cemetery, Peabody. In lieu of flowers, the family requests that donations be made in Claire's name to Good Shepherd United Methodist Church of Malden. William "Billy" Grifone Jr A lifelong resident of Malden, passed away suddenly on Saturday, May 17th, at the age pf 61. Billy was born in 1964, the son of William and Lucille Grifone. He was raised in Malden and graduated with the class of 1982. He went on to become a laborer, and was a member of Local 22. He enjoyed working with his hands, and liked walking around the neighborhood. His kindness and friendliness will be missed by all. He is survived by his mother Lucille "Lu" Grifone of Malden, his brothers Kenneth Grifone and wife June of Newport, NH, and John Lewis and wife Katie of Rehobeth, his aunts Adrrienne "Penny" Cole of Malden, and Sandy Grifone of Everett, his Godmother, Jean Grifone of Grantham, NH his close friend, John Duclos of Malden, as well as several cousins, nieces and nephews. Funeral services will be held on Friday, May 23rd, at 8 PM at the Weir MacCuish Golden Rule Funeral Home, 144 Salem St, Malden. Visitation will be held at the funeral home from 5 – 8 PM. Committal will be private. 529 PLANS AS AN ESTATE PLANNING VEHICLE and not be concerned about a Massachusetts gift tax. Therefore, a parent or grandparent can subsequently change his or her mind and take the money back. If that were to happen, then the monO ne of the advantages of a Section 529 plan is that to the extent a parent or grandparent funds it, the monies then held in the 529 plan are not included in the estate of the parent or grandparent. Furthermore, the parent or grandparent would still maintain control over the account itself if they are the named Custodian of the account. In fact, the parent or grandparent has the right to ask for a return of the funds contributed to the 529 plan. A parent or grandparent can gift up to $19,000 per year per person without reducing the maximum federal estate tax/ gift tax exemption amount (currently $13.9million for each taxpayer). Some parents or grandparents may be reluctant to make an irrevocable gift because they might feel they might need that money someday. A husband and wife can “split gift” and transfer $38,000 per year per individual. The $38,000 qualifies for the annual “tax free” per donee gift. Keep in mind Massachusetts does not have a gift tax. A taxpayer can gift as much as he or she wants to a child or grandchild ies taken back fall back into the “gross” estate of the parent or grandparent. In addition, any withdrawal not used for the beneficiary’s qualified education expenses subjects the “earnings” to income tax and a 10% penalty. One great feature of a 529 plan is that a parent or grandparent can “frontload” the contributions by gifting 5 years worth of the $19,000/donee/ year tax-free gift exclusion amount, or $95,000, into a 529 plan for one son or grandson. If both parents or grandparents join in on the gift, the amount that can be funded each year into a 529 plan for each son or grandson then jumps to $190,000. If the parent or grandparent dies prior to the end of the fiveyear period, the contributions to the 529 plan allocated to the years after death would be included in their “gross” estate. The power of a Section 529 plan cannot be overestimated. Even if the estate is nowhere near the federal exemption amount, one might still stand to save a lot of money in Massachusetts estate taxes. The filing threshold is now $2million for taxpayers dying in Massachusetts on or after January 1, 2023. If someone were to die having a “gross” estate of $1,999,000, having previously gifted away to children and/ or grandchildren to establish 529 plans $760,000 ($190,000 to each of 4 children and/or grandchildren), an estate tax return would not have to be filed because you do not have to add back these “non taxable” gifts to the “gross” estate to determine if you have met the $2million threshold for filing a Massachusetts estate tax return. Therefore, you would not even have to pay any estate tax on the $1,999,000 remaining in your estate. In fact, even taxable gifts (i.e. gifts over the $19,000 per donee tax free gifts) do not have to be added back to your gross estate upon your death to determine if your gross estate exceeds $2million. The $19,000 annual gift allowance is simply not a “taxable” gift. It is a “tax free” gift and for federal estate tax purposes and does not reduce your $13.9million federal estate tax exemption. Once a Massachusetts estate tax return is required to be filed, only the excess over $2million is actually subject to tax as a result of the $199,600 tax credit provided by the state. That number is the Massachusetts estate tax on the first $2million of taxable estate. 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.
18 Publizr Home