THE SAUGUS ADVOCATE – FRIDAY, DECEMBER 31, 2021 Page 21 REAL ESTATE TRANSAC TIONS 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. BUYER1 BUYER2 Dwyer, Katherine Abbott, Renee SELLER1 Scaduto, Lynanne Carlisle, Thomas J Favale, Michael G SELLER2 ADDRESS 79 Bristow St #1R 23 Pevwell Dr “YOUR FINANCIAL FOCUS” JOSEPH D. CATALDO INCOME FIRST RULE M assHealth follows federal Medicaid regulations and therefore must provide a spouse who continues to live home, while his or her spouse resides in a nursing home and receives MassHealth benefi ts, with what is called the minimum monthly maintenance needs allowance (MMMNA). The current MMMNA is $2,177.50. Assume a husband is going into a nursing home and his combined monthly pension and social security income is $3,000. Ordinarily, his patient pay amount (PPA), the amount of his monthly income that would have to be paid to the nursing home each PANDEMIC | FROM PAGE 18 an was fatally shot in her home during a police encounter. Stephanie Gerardi, 38, allegedly challenged offi cers with a knife when they entered her home during a domestic call, and one of the offi cers fi red three shots, killing the mother of two children in her home. An investigation into the shooting was still pending at year’s end. 10) Two elderly siblings perished in an early morning threealarm fi re on Richard Street in July. Firefi ghters responding to month, would be $2,727.20, which results from subtracting the personal needs allowance that MassHealth allows him to keep each month of $72.80 and his monthly health insurance premiums of $200 from $3,000.00. If his wife only has social security income of $750 per month, MassHealth will reallocate $1,427.50 of his monthly income to her to bring her up to the MMMNA fi gure of $2,177.50. Therefore, the actual amount the husband will pay to the nursing home each month will instead be $1,299.70. In addition to the MMMNA designed to provide a minimum amount of income to the spouse who stays at home the scene found Rosemarie Naples, 80, in a second fl oor bathroom and rushed her to MelroseWakefi eld Hospital, where she died of her injuries. Firefi ghters located the lifeless body of Naples’ brother Louis Gallo, 78, on the fi rst fl oor of the house, which was engulfed in fl ames. This double fi re fatality marked the fi rst time in nearly a decade that any residents died in a Saugus fi re, according to a spokesman for the state Department of Fire Services. In 2011, there were two deaths in separate fi res. and still needs to pay the house bills, food shopping bills, etc., Medicaid law also provides for a certain amount of otherwise countable assets to be kept in his or her name. That amount is currently set at $130,380. The spouse in the nursing home can only have $2,000 of countable assets in his or her name. Any excess assets must be spent on nursing home care unless steps are taking to protect those assets for the spouse at home to avoid his or her being impoverished. What are some of the steps that can be taken? Certainly, funds should be set aside towards irrevocable funeral contracts, cemetery plot and other expenses associated with your funeral arrangements. A separate “burial” account in Honorable Mention: The Saugus Faith Community, spearheaded by the efforts of St. John’s Episcopal Church Rev. John T. Beach, took a leadership role in the betterment of the community. Rev. Beach oversaw the conversion of the backyard lawn of the St. John’s Episcopal Church rectory at 276 Central St. into a community garden to help fight food insecurity. Later in the year, Rev. Beach and other faith community leaders collaborated with Board of Selectmen Vice-Chair Corinne Riley and other town offi cials in organizing a candlelight vigil on the front lawn outside Saugus Town Hall to recognize the local heroes who helped get the town through the darkest days of the COVID-19 pandemic and to rethe amount of $1,500 can be established at your bank for each spouse. Although this is not a large amount of money, it would still serve to fund a collation for the family after the funeral service for each of the spouses. A Medicaid annuity can be purchased in the name of the spouse who remains at home thereby providing him or her with additional monthly income to help pay for monthly bills. The annuity contract must be irrevocable, non-assignable and non-commutable. This strategy essentially converts countable assets that would otherwise be required to be spent down on nursing home care into a lifetime income stream for the spouse who stays at home. Furthermore, there is no fi ve-year look member the 400 Saugonians who have died since March of CITY DATE PRICE Saugus 07.12.2021 $253 000,00 Saugus 07.12.2021 $685 000,00 back period concern as transfers between spouses are not disqualifying transfers. It is always a good idea to plan ahead. However, there are last minute planning opportunities available depending upon the unique circumstances applicable to a particular family. last year – including 74 related to COVID-19. OBITUARIES Vincent A. Sutera Age 79, of Saugus, formerly of Revere, died on Saturday, December 25. He was the beloved husband of Diane R. (Stergios) Sutera with whom he shared 55 years of marriage. Born in Boston, Mr. Sutera was the son of the late Philip and Josephine (LoPiccolo) Sutera. In addition to his wife, Mr. Sutera is survived by his daughter, Karen Schroth and her fi ancé Robert Hanscom of Saugus; four grandchildren, Vincent Schroth and his wife Mason of TX, Patrick, Krista and Philip Schroth all of Saugus; his great granddaughter, Lucy; his sister, Claudia D’Amato and her husband Ted of Lynnfi eld; as well as many nieces and nephews. In lieu of fl owers, donations in Vincent’s memory may be made to the American Heart Association @ heart.org Joseph J. Gavegnano Age 70, of Beverly, formerly of Saugus and East Boston, died on Monday, December 27 at the Ledgewood Rehabilitation and Skilled Nursing Center in Beverly. He was the beloved husband of Debra (Cinseruli) Gavegnano with whom he shared 49 years of marriage. Born in Winthrop, Mr. Gavegnano was the son of the late Joseph G. and Kathleen (Shepard) Gavegnano. In addition to his wife, Mr. Gavegnano is survived by his two children, David Gavegnano and his wife Melissa of Wilmington and Michelle Gilpin and her husband George of Wenham; four grandchildren, Brady, Emma, Ben and George, Jr.; two sisters, Donna LaPointe of Hookset, NH and Stephanie Barnes of Holliston. He was predeceased by his grandchild, Rory and brother, George Gavegnano. In lieu of fl owers, donations in Joseph’s memory may be made to the Shawn Thornton Foundation @ thorntonfoundation.org.
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