Page 18 LIVING | FROM PAGE 7 in wheelchairs, ventilators or by foot. “We are thrilled to have Governor Baker and Mrs. Baker on board as our ambassadors for this year’s Walk for Living,” said Barry Berman, CEO of Chelsea Jewish Lifecare, the nonprofit that operates the award-winning Center. “Mrs. Baker visited the Center and met the residents. It was obvious how moved she was by the experience. We are grateful for the Baker’s support and participation in our major fundraising initiative of the year.” “I am in awe of the spirit, deTHE MALDEN ADVOCATE–Friday, October 6, 2023 model Green House® skilled termination, and passion of these residents,” said Lauren Baker. “Charlie and I are proud to act as the ambassadors for the ALS & MS Walk for Living. The residents are truly an inspiration to us all.” As the country’s first urban nursing facility, the Leonard Florence Center provides a level of independence not typically found in other skilled nursing facilities. Residents, many who are completely immobilized, control lights, turn on the TV, call for the elevator, and open doors with help of a computer and sensor that tracks head and eye movements. The Stein Family Center for Well-Being, the only Green House® ventilator program in the country, opened within the Center in 2020. The 2023 Walk for Living will OUT OF STATE PROPERTY AND THE MASS ESTATE TAX estate tax return based upon the 1999 Revision date. We, as preparers, have to prepare the current Massachusetts estate tax return and the federal estate tax return, Form 706, as it existed back in 1999. The good news is that an M assachusetts General Laws Chapter 65C, Section 1(f) specifically exempts from the Massachusetts estate tax tangible personal property and real estate located outside of Massachusetts. The Commonwealth of Mass directs taxpayers to calculate the federal gross estate for estate tax purposes and then provides for a reduction of out of state tangible personal property and out of state real estate. Under the current proposed tax relief package that is now on Governor Healey’s desk (that she has until October 8, 2023 to sign), the estate tax exemption will be increased to $2,000,000. If a taxpayer dies with a $2,000,000 taxable estate, the $2,000,000 is reduced by $60,000 in order to arrive at the adjusted taxable estate, or $1,940,000. The Table B Computation of Maximum Credit for State Death Taxes results in a credit of $99,600. This table is utilized by the Commonwealth of Massachusetts to determine the estate tax due when someone dies in Massachusetts. Under the old federal estate tax law, the IRS allowed a credit for state death taxes on the federal estate tax return. The federal government no longer allows for this tax credit. Massachusetts, however, actually uses that table to determine the Massachusetts estate tax due. The Massachusetts estate tax return actually piggy backs the prior Federal estate of $2.5million would only result in $44,000 in Massachusetts estate taxes. Compare this with the current estate tax provision in Massachusetts which would result in an estate tax of $143,600. Quite a big difference. This is due to the $99,600 credit against the Massachusetts estate tax based upon the first $2million of the gross estate being exempt from the estate tax. Only the estate value over $2million is actually subject to tax. The Dassori v. Commissioner of Revenue 2016 decision involved a case of first impression. The probate court judge decided the case against the Commonwealth of Massachusetts holding that a real estate investment in Paris, France was not subject to the Massachusetts estate tax. The real estate in question was held in a vehicle similar to a nominee realty trust utilized by real estate attorneys in Massachusetts. The Commonwealth tried to argue that the real estate investment was intangible personal property due to the nature of the taxpayer’s interest in the entity that actually held title to the real estate. The probate judge considered the investment to be real estate based upon Massachusetts law and, as such, the real estate could not be subject to estate tax by Massachusetts. Otherwise, that would represent a due process violation under the 14th amendment to the Constitution. 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. take place at 10am on Sunday, October 15 at 165 Captains Row on Admiral’s Hill in Chelsea. Every single dollar raised goes directly back to patient care and programs for ALS and MS resiCity of Malden Community Preservation Committee Monthly Meeting and Public Hearing Agenda Wednesday, October 18, 2023, 6:00 PM Monthly Meeting and Public Hearing Agenda Hybrid City Hall Room #108 (in-person) Live streamed via Zoom (virtual) On March 29, 2023, Governor Healey signed legislation extending certain COVID-19 relief measures including extending remote meetings for public bodies. The same provisions which permitted public bodies to meet remotely, or convene in a hybrid manner, have been extended through March 31, 2025. This extension allows public bodies to continue to meet remotely or to meet in a hybrid manner, without a quorum of the public body physically present at a meeting location. The law requires that a public body provide “adequate, alternative” access to remote meetings. Additional information/guidelines for the public can be found here: https://www. mass.gov/service-details/updated-guidance-on-holding-meetings-pursuantto-the-act-extending-certain-covid-19-measures. Members of the public who wish to attend remotely can do so using the following information: https://cityofmalden.zoom.us/j/94555285228 Webinar ID: 945 5528 5228 Or join by phone from the US: +1 646 518 9805 or +1 929 436 2866 If you would like to request a reasonable accommodation, please contact Maria Luise, ADA Compliance Coordinator at mluise@cityofmalden.org or 781-397-7000, Ext 2005 Agenda 1. Call to Order/ Roll Call 2. Public Hearing a. 009_Malden River Works b. 0010_Malden Hospital Open Space c. 0012_Fitzgerald Park 3. Adjournment of Public Hearing and Start of CPC Monthly Meeting 4. Approval of Meeting Minutes from September 2023 5. CPC Annual Report 6. Other Business 7. Adjournment of CPC Monthly Meeting NEXT MEETING: November 15th CPC Monthly Meeting and Public Hearing for the following Projects: 1. 0013_Linden Rink 2. 0015_Oak Grove Community Building 3. 0018_15 Ferry Street 7. Other Business October 06, 13, 2023 dents. To register, go to the Walk for Living website and click on register. To join Governor Baker and Lauren Baker’s team, please go Team Baker and make a donation to their team. Following the dog friendly walk, there will be a BBQ hosted by Chili’s, face painting, live dance performances, a petting zoo and more. The $20 donation fee includes a Walk for Living tee shirt as well as all food and activities. Platinum level sponsors include M&T Banks and Wilmington Trust; Gold Level A.H.O.H.; Independent Newspaper Group is the media sponsor. For more information or to make a much-appreciated donation, please visit www.walkforliving. org or contact Walk Director Maura Graham at mgraham@ chelseajewish.org or 617-4098973. All donations are tax deductible. About Chelsea Jewish Lifecare Chelsea Jewish Lifecare is redefining senior care and re-envisioning what life should be like for those living with disabling conditions. The eldercare community includes a wide array of skilled and shortterm rehab residences, ALS, MS and ventilator dependent specialized care residences, traditional and specialized assisted living options, memory care, independent living, adult day health, and homecare and hospice agencies that deliver customized and compassionate care.
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