Page 14 THE REVERE ADVOCATE – FRIDAY, JANUARY 12, 2024 SCHOOL | FROM Page 1 tion traffi c and parking vehicles. Reps from Consigli, the company hired to build the school, said that when they take possession of the site there will be no parking available for teachers or students. Joe Luen, a retired construction executive who volunteers his time and expertise to help with nonprofit and municipal building projects, told councillors that building at the existing site would cause signifi cant disruption to the neighborhood. And the noise, traffi c and glut of construction vehicles will be at the site for three to fi ve years. Luen also pointed out that building on the existing site would disrupt the city’s capital planning by leaving Revere with no space for a middle school and no ability to solve overcrowding at elementary schools. Although concerns about costs triggered the council’s request for a feasibility study for a new school on the existing site, there wasn’t much talk about money this week. City CFO Richard Viscay and Mayor Patrick Keefe both briefly mentioned a $17 million annual cost to the city but no specifi cs on where the money would come from. Viscay did say the administration had been making the case for assistance to state offi cials who are well aware of the stress new school buildings put on municipal budgets. There was, however, a slide in the presentation that showed a series of fi nancial fi gures for each project. The total construction cost for a new school at Wonderland was listed as $522,717,901 with a $234,117,356 reimbursement from the Massachusetts School Building Authority (MSBA) and $288,600,545 to be paid by Revere. This did not include a possible $100 million judgement in the eminent domain lawsuit. Building at the existing site was estimated at $550,295,868 with a $239,461,932 reimbursement and a $310,833,936 share of the bill for Revere. Keefe and veteran city councillors were sympathetic to the six new council members who must make a decision on the school by the end of the month without the benefit of three years of debate and discussion. “You’re faced with this fork in the road and a decision on which direction we take,” said Keefe, who has been a supporter of the Wonderland site. “I’ll tell you how I got there,” said Keefe. “I listened to the experts.” Keefe conceded that last year the cost of building at Wonderland was troubling but added that the favorable change in reimbursements from the MSBA had alleviated those concerns. Keefe told new councillors that staff and officials will be available over the next couple weeks to answer any of their questions. “I want you to make the best decision,” Keefe told them. Essential Topics You Need to Discuss with Your Aging Parents Dear Savvy Senior, My siblings and I don’t know much about our elderly parent’s fi nancial situation or their wishes if and when something happens to them. They are both in their mid-eighties. What’s the best way to handle this and what all should we know? Notice is hereby given in accordance with the provisions of Chapter 185 of the Acts of 1983, and Chapter 13 of the will conduct a Public Hearing on January 18, 2024 at 5:00 tions of the City of Revere: Public Hearing: and voted on: in the area. January 12, 2024 Apprehensive Daughter Dear Apprehensive, Many adult children don’t know much about their elderly parent’s financial situation or end-of-life plans, but they need to. Getting up to speed on their fi nances, insurance policies, long-term care plans and other information is important because some day you might have to help them handle their fi nancial aff airs or care, or execute their estate plan after they die. Without this information, your job becomes much more diffi cult. Here are some tips that can help. Have the Conversation If you’re uncomfortable talking to your parents about this, use this column as a prompt or see TheConversationProject.org, which off ers free guides that can help you kick-start these discussions. It’s also a good idea to get all your siblings involved too. This can help you head off any possible hard feelings, plus, with others involved, your parents will know everyone is concerned. When you talk with your parents, you’ll need to collect some information, find out where they keep key documents and how they want certain things handled when they die or if they become incapacitated. Here’s a checklist of areas to focus on. PERSONAL INFORMATION • Contacts: Make a list of names and phone numbers of your parent’s doctors, lawyer, accountant, broker, tax preparer, insurance agent, etc. • Medical information: Make a copy of their medical history and a list of medications they take. • Personal documents: Find out where they keep their Social Security card, marriage license, military discharge papers, etc. • Secured places: Make a list of places they keep under lock and key such as safe deposit boxes, safe combination, security alarms, etc. • Digital assets: Make a list of their digital assets – everything from social media accounts to online banking. It should include usernames and passwords. • Pets: If they have a pet, what are their instructions for the animal’s care? • End of life: What are their wishes for organ or body donation, and their funeral instructions? If they’ve made pre-arrangements with a funeral home, get a copy of the agreement. LEGAL DOCUMENTS • Will: Do they have an updated will or trust, and where is it located? • Power of attorney: Do they have a power of attorney document that names someone to handle their fi nancial matters if they become incapacitated? • Advance directives: Do they have a living will and a medical power of attorney that spells out their wishes regarding their end-of-life medical treatment? If they don’t have these documents prepared, now’s the time to make them. FINANCIAL RECORDS • Financial accounts: Make a list of their bank accounts, brokerage and mutual fund accounts, and any other fi nancial assets they have. • Debts and liabilities: Make a list of any loans, leases or debts they have – mortgages owed, car loans, student loans, medical bills, credit card debts. Also, make a list of all credit and charge cards, including the card numbers and contact information. • Company benefi ts: Make a list of any retirement plans, pensions or benefi ts from their former employers including the contact information of the benefi ts administrator. • Insurance: Make a list of the insurance policies they have (life, long-term care, home, auto, Medicare, etc.) including the policy numbers, agents and phone numbers. • Property: Make a list of the real estate, vehicles or other properties they own, rent or lease and where they keep the deeds, titles and loan or lease agreements. • Taxes: Find out where they keep copies of past year’s tax returns. You’re probably not going to get all this fi gured out in one gathering, so it’s important to keep the conversation going to ensure your parent’s wishes will be accurately executed. 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.
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