Page 14 THE MALDEN ADVOCATE–Friday, August 25, 2023 “A Mass. physicians encourage vaccinations as state’s students return to school “Vaccines are rigorously studs we begin to look toward fall and returning to school, the physicians of the Massachusetts Medical Society (MMS), the Massachusetts Chapter of the American Academy VACATION HOMES AND RENTAL PROPERTIES V acation homes are deemed a countable asset when applying for MassHealth long-term care benefits. If you rent out the vacation home and you are reporting a profit, MassHealth will not count the vacation home as an asset as the vacation home will be deemed essential for self-support under 130CMR 520.008(d). MassHealth Estate Recovery Unit will still place a lien on the property in order to seek reimbursement for MassHealth benefits paid on behalf of the institutionalized spouse. However, the reimbursement is based on the Medicaid rate paid to the nursing home by MassHealth, which is often 50% to 60% or so of the private pay rate. This means the buildup on the lien will be a lot smaller than the cash depletion based upon the private pay rate assuming the vacation home was not rented out generating a profit which would otherwise make it a non-countable asset. The same would be true for rental property generating a profit. The rental property would also be a non-countable asset based upon being essential to self-support. Your principal residence is a non-countable asset if you check off the box on the MassHealth application stating that you intend to return home from the nursing home. In a married couple situation, once the nursing home spouse is approved for MassHealth benefits, the home can then be transferred to the at home spouse without there being a disqualifying transfer. Then, the at home spouse could transfer to an irrevocable Trust in order to start the five-year look back period if he or she wishes to do so. Whether you are dealing with a vacation home, rental property or principal residence, if you decide to transfer either piece of real estate to an irrevocable Trust, once the deed is executed, the five-year look back period would begin to run. At the end of the five-year period, those assets would not be considered countable assets for MassHealth eligibility purposes, and MassHealth would not place a lien on any of the properties. Upon the death of the Settlor(s) of the irrevocable Trust, probate would also be avoided. MassHealth can only collect against the probate estate. Keep in mind that if the Medicaid rate is, for example, $7,500 per month, the amount of the estate recovery lien that would build up each month would be reduced by the monthly income being paid to the nursing home by the nursing home spouse. For example, if the nursing home spouse had Social Security income of $2,000 per month, pension income of $1,000 per month and net rental income per month of $2,000 per month, for a total of $5,000 in income per month, the net amount of MassHealth’s estate recovery lien that would build up each month would only be $2,500. This would most likely lead to a decision not to sell any of the real estate which would result in potentially significant capital gains taxes. 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. of Pediatrics (MCAAP), and the Massachusetts Academy of Family Physicians (MassAFP) wish to remind parents and guardians of students that it is critical to make certain that school-aged children are current on all required and recommended vaccinations. Importantly, we urge parents and guardians, including those who may be hesitant and wish to receive reliable information, to speak to their child’s physician or health care provider about vaccines that can prevent the spread of serious illnesses caused by influenza, COVID-19. MUSINGS | FROM PAGE 3 two Moros meshuga?! ● I spotted Dicky Drinkwater and his little brother Ronny at the San Rock Festa last weekend. Both looked great. I was at the Golden Banana in Peabody 47 years ago (Sept 13, 1976) to see Ronny (Malden High School 1973) take out Billy Brown of New York in the fourth round. “Bevy” was a heavyweight and outweighed his opponent by 26 pounds that night, improving his record to 5-1 with his third knockout. Warner Cablevision was filming; not sure if it ever aired. Ronny would later go on to box Muhammad Ali in an exhibition match, fight on the undercard of a Marvin Hagler bout and make us all proud to be Maldonians! Stay well, gentlemen. ● Pine Banks Park Superintendent Kevin Benner was spotted at Malden’s swankiest shindig of the year, the annual San Rock Festa in Edgeworth, wearing one of the coolest T-shirts at the Feast. Though more appropriate for a Saint Patrick’s Day Parade, his wearing of the Green was nonetheless a sartorial success story. Townie pride forever, my friend! ● This is why we really need and yearn (well, I yearn anyway) for local journalism and local coverage. Here is the late Don Squire at his very best, a piece written in July of 2005, about the Elmwood Pharmacy and its matriarch, the late Betty Heitin: “The Elmwood Pharmacy is not only a medical Pandora but a haven against ravages of mankind for those in need of solace, medication, advice, protection against elements and themselves I might add. Kindness of language is not in the lexicon of Elmwood Pharmacy, but kindness of the heart REAL ESTATE TRANSACTIONS BUYER1 DUONG, TUYEN PARIK, KATRINA BUYER2 NEWMAN, ADRIAN SELLER1 URMIL RT SELLER2 VERMA, RAKESH GIANNELLI MGMT & DEV CORP ied, safe and are the best tool we have to protect public health and mitigate the risk that an outbreak of any dangerous, transmissible infection could cause harm to students and staff. “Beyond vaccines, there are other ways to keep your school community healthy. Please make every effort to practice regular hand hygiene. If children are suffering from symptoms like fever, sore throat, cough, or congestion, keep them home until symptoms relent and they are fever-free for at least 24 and spirit are in evidence in every corner of this one in a million emporium. Betty Heitin was a giant of a woman at five feet one inch and every inch of her was one of the most beautiful people I ever knew. She had a certain decorum about her that defined their description by the ordinary human.” Thank you, Don, for putting that down on paper. The Heitins continue to this very day their altruistic ways, especially my friend (Betty’s granddaughter) Felicia. ● Old friend Dante DiSerio made a grand San Rock entrance, greeting the many friends on Pearl Street that he has made in the past 60 or so years. Dante is running for Councillor-at-Large this year as a dark horse type of candidate. Longtime Maldonians will recall Dante running for Mayor, Ward 2 Councillor and Councillor-at-Large many, many years ago – unfortunately, with not much success, but honorably and with integrity. He’s back in the game after taking a long, hard look at Malden’s current political landscape/discourse. Dante is a wonderful human being. I have a ton of respect for “The Doobster,” whom I have known my whole life. An honest man with a heart as big as all of Edgeworth – his lifetime home. Good luck, my dear friend. ● Pulled a Friday morning popin on some Malden power players at Franny’s in Maplewood Square two weeks ago. Birthday boy Bill Dempsey, MPD Commissioner Salvatore “Butch” Gennetti, Fred Smith, Bobby “Father of Rob” McCarthy, retired Malden Police Officer Mike Hardiman (amongst others) were finishing up breakfast and solving all the world’s problems as I walked in and saluted them. Next pop-in I hope to spend more time and hours. If children are ill and must gather with others in indoor spaces, we strongly encourage masking to reduce transmission. We hope all students, school staff, and families in the Commonwealth have a healthy, safe, and successful school year.” Dr. Barbara Spivak, president, Massachusetts Medical Society Dr. Marybeth Miotto, president, Massachusetts Chapter of the American Academy of Pediatrics Dr. Hannah Biederman, president, Massachusetts Academy of Family Physicians catch up with former Mayor Ed Lucey. Always fun to hook up with these walking & talking Malden history books! As Peter Falk’s iconic TV character Columbo would say, “Just one more thing, sir” – I am extremely proud and feel honored to participate in the Sunday afternoon San Rock Procession, the time-honored tradition of carrying the Saint (rolling the Saint, actually) through the streets of Edgeworth soliciting donations along the way. In the distant past, the money received would go to the good and welfare of those hit by hard times in the neighborhood. With Saint Peter’s Church no longer affiliated with the Feast, the money now funnels to scholarships and to keep the Festa running another year. This year’s march took an emotional toll on many of us who accompany the Saint. As we march, we pay tribute to the many family members and friends no longer with us and pay homage to those from the neighborhood who have recently passed or who are ill. One particular stop this year simply crushed our souls. I’ll elaborate in the near future when time and column space allow. Postscript: Billy Hart at the Irish American Club; you didn’t think you were gonna get by without a shout out, did ya?! Billy is the go-to guy at the Club, the glue that keeps it together year after year after year. Thank you, Billy, from all your pallys at the IA and all your pallys across Malden and beyond. Peter is a longtime Malden resident and a regular contributor to the Malden Advocate. He can be reached at PeteL39@aol.com for comments, compliments or criticism. 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 458-460 FERRY ST CITY MALDEN DATE 08.04.23 65 CENTRAL AVE MALDEN PRICE 865000 08.01.23 765000
15 Publizr Home