THE MALDEN ADVOCATE–Friday, December 16, 2022 BASKETBALL | FROM PAGE 14 THE PRIMARY RESIDENCE, MARRIED COUPLES AND MASSHEALTH long-term option when one spouse is in a nursing home. Transfers between spousI n Massachusetts, as long as one spouse continues to live in the primary residence, the home will not be a countable asset for MassHealth eligibility purposes, regardless of its value. Furthermore, MassHealth cannot file a lien against the property as long as one spouse remains living in the home. Beginning in 2023, the maximum equity in a single person’s home can be up to $1,033,000. If the equity is over that amount, the home will be a countable asset for Medicaid eligibility. If one spouse becomes eligible for MassHealth and the home is owned jointly, the home should be transferred to the spouse who is still living at home. The at home spouse could then transfer the home to an irrevocable Trust in order to commence the five-year look back period in the event the at home spouse subsequently ends up transitioning to a nursing home. The Trust would also serve to avoid probate in the event the at home spouse dies. If the house is not transferred to such a Trust and the at home spouse unexpectedly dies without having changed title to the deed, then the house would revert back to the spouse in the nursing home only to be subject to the estate recovery lien by MassHealth upon that spouse’s death. Therefore, continued joint ownership in situations like this is not a viable es are not disqualifying transfers and, consequently, are not subject to the five-year look back period. The subsequent transfer to the irrevocable Trust should only be completed after the nursing home spouse is approved for MassHealth benefits. Otherwise, the transfer taking place prior to such approval would be considered a disqualifying transfer. The transfer of the home from the nursing home spouse to the at home spouse can even take place prior to MassHealth approval. That will have no effect on the MassHealth application. The at home spouse will still have the right to use, occupy and possess the home while it is being held in the irrevocable Trust. If the at home spouse were to die, the Trust terms would be followed and most likely the home would be distributed free of all Trusts to the children in equal shares. The children would receive a cost basis in the home equal to the fair market value of the home at the time of the at home spouse’s death. If the home were to be sold shortly thereafter, in all likelihood, no capital gains tax would be paid. No Massachusetts estate tax would be paid if the total value of the at home spouse’s estate is less than $1million. I’m still waiting for the Massachusetts legislature to at least increase the exemption to $2million. New Hampshire has no estate tax. Maine will be exempting up to $6million the start of the year. Connecticut’s current estate tax is not assessed until the estate is valued over 9.1million. Just a few examples. 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. REAL ESTATE TRANSACTIONS BUYER1 ALSTON, ANGELA J ENNIS, LINDA A FRANZ, PATRICIA M HANNIGAN, RICHARD J HARIK, FADIA F KURZ, THOMAS SEDAN, KATHERINE E SHAFER, LEAH J SMITH, KELLY S YUNG-TSENG, VIVIAN S BUYER2 SELLER1 KELEHER, KATHY SEDAN, RICARDO J GOLDSTEIN, PETER H BAY STATE COMMONS LLC BAY STATE COMMONS LLC BAY STATE COMMONS LLC BAY STATE COMMONS LLC BAY STATE COMMONS LLC BAY STATE COMMONS LLC BAY STATE COMMONS LLC BAY STATE COMMONS LLC BAY STATE COMMONS LLC BAY STATE COMMONS LLC SELLER2 their attention to the next game and upcoming portion of the schedule. For the Tornados, it gets very challenging, VERY quickly. Last night, after press deadline, Malden hit the road to take on host Lynn English for a 7:00 tipoff. Lynn English is the preseason co-favorite, along with Everett. Everett actually comes the game after that, with the Crimson Tide, OT winners over Revere Tuesday, coming to Malden this coming Tuesday, December 20 (6:00 p.m. start). After that? A non-league game on the road against Woburn (Thursday, December 22, 7:00 p.m.). Woburn is the Middlesex Page 17 League favorite this season. **** NOTHING BUT NET — With 18 Opening Nights now under his belt, Malden Head coach Don Nally is the longest-serving Malden High boys basketball boss in Tornado history... Besides the starters, Justin Bell and Ethan Phejarasai, a third starting guard, and a fellow senior also contributed valuable minutes to the win—Peyton Carron and Aiden Tham.... Junior 6-4 forward Zeke Noelsaint was Malden's best player in its set of three preseason scrimmages and he was right at that level Tuesday night, dominating at times both under the basket and defending close to the three-point line. Noelsaint is also a talented baseball player and will be a junior captain in the spring, his third year in the – LEGAL NOTICE – starting lineup for the Varsity team.... Malden will once again be competing in the Tewksbury Christmas Tournament this year. playing Burlington in the Semifinals on Tuesday, December 27 (5:00 p.m. start. Consolation and Championship games are the next night, Wednesday, December 28... Malden christened a brand-new scorer's table the same night it welcomed a new scoreboard operator to the list, Eddie Farrell. The two "old" fixtures of John Finn on the 30-second clock and PA Announcer and former Malden head boys’ basketball coach Peter Carroll returned for their 18th season along with Coach Nally. Finn has been for more than 18 years, though, we believe. Coach Carroll preceded Coach Nally at the helm for Malden High from 1999-2003. INVITATION FOR REQUEST FOR PROPOSALS CITY OF MALDEN - OFFICE OF THE CONTROLLER The City of Malden invites sealed price, and non-priced proposals, in accordance with M.G.L. c.30B, §6, from Vendors for: OUTDOOR ICE RINK DESIGN SERVICES RFP Proposals will be received until Monday January 9, 2023, at 10:00 A.M. at the Office of the Controller, 215 Pleasant Street 2nd Floor, Malden MA 02148. Proposals will not be accepted nor may submitted proposals be corrected, modified or withdrawn after the deadline for proposals. Contract Documents will be available by email request at purchasing@cityofmalden.org after Monday December 19, 2022, at 10:00 A.M.. Following the deadline for proposals, all proposals received within the time specified will be reviewed by the RFP Committee, and an award will be made to the most advantageous proposer for services. All proposals are subject to the provisions of M.G.L. Chapter 30B §6. All City of Malden bids are available by request. Addenda’s will be sent to the contact information provided. It is the sole responsibility of the vendor requesting these bids to ensure they have received any and all addenda prior to the bid opening. The City will reject any and all proposals in accordance with the above referenced General Laws. In addition, the City reserves the right to waive minor informalities in any or all proposals or to reject any or all proposals (in whole or in part) if it be in the public interest to do so. CITY OF MALDEN Office of the Controller December 16, 2022 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 368 PLEASANT ST #104 368 PLEASANT ST #308 368 PLEASANT ST #209 368 PLEASANT ST #306 368 PLEASANT ST #202 368 PLEASANT ST #310 368 PLEASANT ST #106 368 PLEASANT ST #303 368 PLEASANT ST #208 368 PLEASANT ST #204 CITY MALDEN MALDEN MALDEN MALDEN MALDEN MALDEN MALDEN MALDEN MALDEN MALDEN DATE 11.18.22 11.18.22 11.21.22 11.21.22 11.22.22 11.18.22 11.18.22 11.18.22 11.18.22 11.23.22 PRICE 501334 615777 394249 434586 689241 409290 723019 723091 536624 675175
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