Page 14 THE MALDEN ADVOCATE–Friday, November 12, 2021 Malden High alumnus Witche Exilhomme returns as Tornado Head Football Coach Looking to make an impact on young Malden team and finish season strongly By Daniel O’Toole The Blue and Gold uring last year’s football season, there was a new face on the sideline and one that was quite recognizable. Serving as an assistant coach was Malden High School (MHS) alumnus and first-year teacher Witche Exilhomme. The reason he was back down on Macdonald Stadium’s field last year would have big implications for this year. In the offseason, now former Head Coach Steve Freker would step down from his head football coaching duties and pass them on to Exilhomme. D MHS first-year Head Coach Witche Exilhomme coached up the Golden Tornadoes team during the victory over Somerville recently. (Courtesy of Blue and Gold/Chaimaa Assli Photo) MHS assistant coach Richard Voltaire (left) and others instruct the team during the Golden Tornadoes win over Somerville. (Courtesy of Blue and Gold/Chaimaa Assli Photo) Before coming back home to MAKING GIFTS divorce would not be such a good idea. Trusts have spendthrift provisions that would offer protection to a child in the event of a lawsuit or divorce. Currently, there is no gift tax I f you plan on making gifts of appreciated property such as stocks or real estate, keep in mind that the donee of your gift will accept the property with a cost basis equal to your cost basis. The cost basis might be the purchase price of the original stock or real estate plus any improvements made to the real estate. If the real estate is rental real estate, the cost basis is reduced by depreciation taken over the years since first placed in service. Generally, it is best to gift assets that have not appreciated much, if at all. Cash is always a good asset to gift because there are no cost basis issues or date of death valuation issues. You must always consider whether or not you deem it best to make outright gifts to children or to make gifts to an irrevocable Trust for their benefit. An outright gift to a child that might have creditor issues or that might be involved in a in Massachusetts. The federal gift tax exemption is currently $11,700,000. Under the Biden Administration proposal, the gift tax exemption would be reduced to $1,000,000. The federal estate tax exemption is currently $11,700,000. The Biden Administration’s proposal is to reduce it to $6,000,000. The federal gift tax exemption and estate tax exemption are a unified exemption. You can either gift $11,700,000 federal gift tax free or die and bequeath $11,700,000 estate tax free, but you can’t do both. Although there is no gift tax in Massachusetts, taxable gifts (i.e. gifts in excess of $15,000 per donee) reduce the $1,000,000 threshold for being required to file a Massachusetts estate tax return. If you gave away $750,000 and were still left with $750,000 in assets at the time of your death, even though your estate ended up being less than $1,000,000, a Massachusetts estate tax return would still need to be filed. The threshold would have been lowered to $250,000 in estate assets. When you die with appreciated stock or real estate that is includible in your taxable estate (even though your estate might be less than $11,700,000 for federal purposes or $1,000,000 for Massachusetts purposes) your beneficiaries obtain the benefit of Internal Revenue Code Section 1014 and receives a new cost basis equal to the fair market value at the time of your death. The huge benefit to your beneficiaries is that when they sell the appreciated property shortly after you pass, there would be no capital gain or very little capital gain resulting in no capital gains tax or very little capital gains tax. Another benefit of Code Section 1014 is that the beneficiary of the appreciated property receives preferential long-term capital gains tax treatment even if the beneficiary sold the appreciated property within one year from the date of death. Remember, short term capital gains are taxed at ordinary income tax rates federally and are taxed at the rate of 12% in Massachusetts. It is always important to select what assets to gift and how to make the actual gift. The tax implications can be significant. 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. Malden, Exilhomme was the Defensive Coordinator at Milford Academy, which is one of the top prep schools in the nation. Last year during remote learning, Exilhomme had become one of the new teachers at MHS and was teaching History. According to Malden High School’s Athletic Director, Charlie Conefrey, a committee was formed to interview candidates for the football position and four candidates were finalists. One of the qualities that stood out to Conefrey about Exilhomme was “he is a Malden High School graduate and he played football for the program.” He said that “it is always good to have someone return to help out who is familiar with his surroundings, so we are really excited to have him as head coach.” Freker expressed tons of appreciation for Exilhomme and his new achievement. “I was thrilled when Malden High selected Coach Exilhomme” because “I was hoping we got the right coach to lead the team forward and someone who had the right qualities we were seeking.” “Coach Exilhomme was the right guy we needed to lead the program and help our student athletes,” Coach Freker added. “[Coach Exilhomme] has an incredible amount of football knowledge, and most importantly, knowledge of dealing with life issues and with young student athletes who need direction.” Coach Freker said, “He is an excellent role model and has so much to share from his own life experiences that will be so valuable for these players as he coaches them this year and in the future.” He continued on, saying that Coach Exilhomme “developed a good relationship with the students and fellow coaches which will help the team succeed.” Commenting on his own experiences with Malden’s football program, Freker said, “It was a big honor to serve as head coach” since “I played for Malden High when I was in high school” and “I was a assistant coach for Malden High football for 19 years in the 80s and 90s.” Freker expressed how he has been “able to come back to coach baseball and football for the past several years and I was happy that I was able to see some of the student-athletes develop to become good citizens of the school.” One of Freker’s new responsibilities still has him contributing to the game in some form. He explained how he is assisting Athletic Director Conefrey at home games for football and other sports as a site coordinator to help with game management at the various fall events and venues. Coach Exilhomme was upfront and passionate about his feelings about becoming the Head Coach and what he plans to do with the program going forward. He explained how he felt “extremely proud; it is something I am very excited about, and I am excited about the future that we have as a coaching staff for the program. It is going to be very fun for the next few years.” Coach Exilhomme said he is pleased with his coaching staff’s commitment to help the team “compete to be the top team in the state, and we are ready to put in the work that is required on and off the field to reach that.” “Our coaching staff wants to teach kids how to be football players and that football does not stop on the field,” since “it continues to the classroom and when they become grown men and then if they want to start a family.” Exilhomme further stated that “we do not want it to just be on the field, but how the kids act in and out of school.” Talking more about his student-athletes, Exilhomme said, “I am excited about the number of players we have beCOACH | SEE PAGE 17
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