Page 14 THE MALDEN ADVOCATE–Friday, July 30, 2021 a vyvavvyvavy eniioorenior avvy Senior a vy nniorniiori by Jim Miller What to Ponder Before Remarrying Later in Life Dear Savvy Senior, What types of financial or legal snags should I be aware of when considering remarriage? I’m 62-years-old and have been seeing a nice man for about a year. We’ve been talking about getting married, but I want to make sure I understand all the possible consequences beforehand. Divorced Widow Dear Divorced, Getting remarried later in life can actually bring about a host of financial and legal issues that are much more complicated than they are for younger couples just starting out. Here are some common problem areas you need to think about, and some tips that can help you solve them. Estate Plan: Getting remarried can have a big effect on your estate plan. Even if your will leaves everything to your kids, in most states spouses are automatically entitled to a share of your estate – usually one-third to one-half. If you don’t want to leave a third or more of your assets to your new partner, get a prenuptial agreement where you both agree not to take anything from the other’s estate. If you do want to leave something to your spouse and ensure your heirs receive their inheritance, a trust is the best option. Medical and Long-Term Care: As a married couple, you and your husband will be responsible for each other’s medical and long-term care bills. This is one of the main reasons many older couples choose to live together instead of marrying. Staying unmarried lets you and your partner qualify individually for public benefits, such as Medicaid (which pays nursing home costs), without draining the other one’s resources. But, if you remarry and can afford it, consider getting a long-term care insurance policy to protect your assets. See AALTCI.org to help you find one. Home: If you’re planning on living in your house or vice versa, you also need to think about what will happen to the house when the owner dies. If, for example, you both decide to live in your home, but you want your kids to inherit the place after you die, putting the house in both names is not an option. But, you may also not want your heirs to evict him once you die. One solution is for you to give your surviving husband a life estate, which gives him the right to live in your property during his lifetime. Then once he dies, the house will pass to your heirs. Social Security: Getting remarried can also affect your Social Security benefits if you’re divorced, widowed or are receiving SSI. For instance, getting remarried makes you ineligible for divorced spouse’s benefits. And getting remarried before age 60 (50 if you’re disabled) will cause widows and widowers to lose their right to survivor’s benefits from their former spouse. For more information, see SSA.gov. Pension Benefits: Be aware that if you’re receiving a survivor’s annuity from a public employees pension, getting remarried may cause you to lose it. In addition, widows and widowers of military personnel killed in the line of duty may lose their benefits if they remarry before age 57, and survivors of federal civil servants that receive a pension will forfeit it if they remarry before 55. Alimony: If you are receiving alimony from an ex-spouse, it will almost certainly end if you remarry and might even be cut off if you live together. College Aid: If you have any children in college receiving financial aid, getting married and adding a new spouse’s income to the family could affect what he or she gets. To get help with these issues, consider hiring an estate planner who can draw up a plan to protect both you and your partner’s interests. 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. The Malden Planning Board and Malden City Council Ordinance Committee will jointly 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, August 11, 2021, in accordance with Section 12.32.050 of Chapter 12 of the Revised Ordinances of 2020, as Amended, of the City of Malden, on the petitions for zoning amendments made in City Council Papers #232/2021 and #339/2021, to further amend the following sections of Chapter 12 of the Revised Ordinances of 2020, as Amended, of the City of Malden, as follows: I. Use Regulations (Section 12.12): to add new use regulations to establish an Inclusionary Zoning ordinance regarding affordable housing (CCP #232/2021). II. Use Regulations (Sections 12.12.030 and 12.12.090): to amend existing use regulations to prohibit Offsite Parking Facilities in the Residence A zoning district (CCP #339/2021). Full texts of the proposed zoning amendments (City Council Papers #232/2021 and #339/2021) are available for public review on the City of Malden website at https://cityofmalden.legistar.com/Legislation.aspx and with the City Planner, Inspectional Services, 3rd floor, and the City Clerk, 2nd Floor, 215 Pleasant Street, Malden, MA. By: Kenneth Antonucci, Clerk Malden Planning Board July 23 & July 30, 2021 ~ Home of the Week ~ SAUGUS...UNIQUE Opportunity to own THREE buildings on ONE lot. SINGLE FAMILY Colonial offers 4 rms., 2 bdrms., 1 bath, updated gas heat, hot water, roof & windows, 1 off-street parking spot, needs cosmetics. STORE FRONT currently used as a restaurant w/ a lease includes 1 car off-street parking spot & updated roof. OVERSIZED GARAGE w/ one 10’ garage door which can accommodate 4+ cars, office area, bathrm. w/ toilet & shower stall only, rubber roof. Located on bus line just outside of Cliftondale Sq. Great Opportunity - Great Investment! Offered at $550,000 335 Central Street, Saugus, MA 01906 (781) 233-7300 View all our listings at: CarpenitoRealEstate.com View the interior of this home right on your smartphone. By: Craig Spadafora, Chair Malden City Council Ordinance ~ LEGAL NOTICE ~ MALDEN BOARD OF APPEAL PUBLIC HEARING The Malden Board of Appeal will hold a public hearing on Wednesday, August 18, 2021, 6:30 pm Eastern Time (US and Canada), at Malden City Hall, 215 Pleasant St., Room #106 Herbert L Jackson Council Chambers, Malden, MA on Petition 21-010 by Juan Chen for a variance of MCC 12.16.010 Table of Intensity Regulations- Chapter 12 of the revised Ordinances of 2020 as amended of the City of Malden – Namely – Dwelling – Single Family Dimensional Controls - rear yard setback (changing deck to 3 season porch) as per Plans RES-035782-2020 at the property known as and numbered 27 Beltran St, Malden, MA and also known by City Assessor’s Parcel ID #012-080-005 Additional information, Petition & plans available for public review in the Office of Inspectional Services, 215 Pleasant St., 3rd floor, Malden MA or online at www.cityofmalden.org or https://permits.cityofmalden.org/EnerGov_Prod/SelfService Nathaniel Cramer, Chair July 23 & July 30, 2021 ~ LEGAL NOTICE ~ MALDEN PLANNING BOARD and MALDEN CITY COUNCIL ORDINANCE COMMITTEE PUBLIC HEARING
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