ries from whistleblowers in Richland to tell the story of a family facing extreme tragedy — misfortune, extreme health concerns, unsafe conditions and death — after moving to a town plagued by decades of wrongdoing. A ghost story, a moving family drama and a love story, Snitchland is a suspenseful and cautionary tale about what can happen when one, or many, tries to shed light on the dangers lurking in a community — and unspeakable horror happens. Told with stunning artwork by illustrator Pyrink, Snitchland is part of the Witchland Trilogy, a series of scary (and surprisingly funny) immersive plays, each also adapted into beautiful graphic novels. The trilogy centers on one truly modern family’s experiences after moving to the town of Richland, which of course involves working at the infamous Hanford nuclear plant. The third installment, Twitchland, is scheduled for release in early 2025. A BookTrib reviewer called Mulligan’s work, “Chernobyl meets The Haunting of Hill House.” “It’s amazing that it [Richland] hasn’t made its way into pop culture, and people don’t know that there’s this place that has such a bizarre and scary reputation,” Mulligan added. About the Author Tim Mulligan wrote the Witchland Trilogy, based on his own experiences growing up in the real Witchland. In addition to the Witchland World plays and graphic novel adaptations, Mulligan wrote the plays Point Loma and Bitchland, as well as the bestselling Perfect 10 cookbooks. An avid fan of theater, movies, books, TV and pretty much all things pop culture, especially in the horror genre, Mulligan and his partner, Sean, have homes in Palm Springs, San Diego and Los Angeles For more information, please visit www.witchlandplay.com, or connect with the author on Instagram and Facebook at witchlandplay. Amazon link: https://www. amazon.com/SnitchlandGraphic-Novel-Tim-Mulligan/dp/B0DHLQBJ65 THE REVERE ADVOCATE – FRIDAY, OCTOBER 25, 2024 - LEGAL NOTICE - Page 17 Estate of: Date of Death: To all persons interested in the above captioned estate, by Petition of Petitioner of of has been informally appointed as the Personal Representative of the estate to serve on the bond. - LEGAL NOTICE - SU24P2080EA Estate of: Also Known As: Date of Death: To all persons interested in the above captioned estate, by Petition of Petitioner of a Will has been admitted to informal probate. of has been informally appointed as the Personal Representative of the estate to serve on the bond. GIFT TAXES AND MEDICAID IRREVOCABLE TRUSTS I f you transfer your home or investment assets into an irrevocable Trust, no gift taxes will be owed if the Trust is drafted in such a way as to avoid a completed gift. If the Settor of the irrevocable Trust reserves the right to determine the ultimate benefi ciaries of the Trust, under Internal Revenue Code Section 2511 and Treasury Regulation Section 25.2511-2C, the transfer into the Trust will not be a completed gift. Since there is no gift tax in Massachusetts and the current gift tax exemption is $13.6million, most people decide not to even bother fi ling a gift tax return for informational purposes only. In a typical Medicaid irrevocable Trust, it is structured as a grantor-type trust for both income tax purposes and capital gains tax purposes. Therefore, if there was a rental property titled in the name of the irrevocable Trust, the Trust would fi le its own income tax return under its own federal ID number and the Settlor of the Trust would receive a Grantor letter in order for the Settlor to report the net rental income or loss on his or her own individual income tax return. The same would be true for any dividend income, interest income or capital gain distributions generated by the irrevocable Trust as a result of transferring any bank account, brokerage account or other investment account to the irrevocable Trust. Since the transfer to the irrevocable Trust involves an incomplete gift, the other benefi t will be that the appreciated real estate or stocks, for example, in a brokerage account, will receive a step-up in cost basis at the time of the Settlor’s death, thereby providing the benefi ciaries of the irrevocable Trust a fresh starting point with the cost basis equal to the fair market value of the underlying Trust assets at the time of the Settlor’s death. Therefore, if the real estate or stock portfolio is then sold within a short period of time after the Settlor’s death, there would be either no capital gain or little capital gain to be recognized upon that subsequent sale. If your principal residence is transferred to the irrevocable Trust, and you wish to sell in the future, the Settlors of the Trust would enjoy the benefi t of a $500,000 capital gain tax exclusion. For a single Settlor, the capital gain exclusion would be $250,000. If deeding to children outright, if the children do not live in the home, they will not receive the benefi t of the capital gain exclusion. Since the home is not their principal residence, and there has been a completed gift, there is a strong likelihood that the children will have to pay a capital gains tax based on their portion of the total capital gain. If the parents deeded to the children with a reserved life estate, a completed gift will have occurred and the capital gain would have to be allocated to the life tenants and the remaindermen, based upon the Book Aleph table and IRS Section 7520 interest rates applicable at the time of the sale. An irrevocable Trust would avoid those tax issues, would avoid probate and would start the fi ve-year look-back period in order to protect the Trust assets from a nursing home. 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.
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