Thursday, August 26, 2010

Having Children later in life


More couples are deciding to wait a little longer before starting a family. Also, the decision to get the chosen career started and developed has become a priority to some. Having older children, and a new graduate, I have found it very important for them to learn financial responsibilities. Life is full of surprises, preparing for them makes them easier to accept.

Here is an article provided by John Scholl, Financial Consultant - Investors Group Financial Services Inc. & Investors Group Insurances Services Inc. It's information that is important to all of us.

Later in life children – bringing up new needs

If you have opted to start a family later in life or if you are the more mature partner in a blended family with younger children from your new union, you’ll want to make sure your children are properly cared for and financially secure regardless of what happens to you. That’s why there are certain financial and estate planning issues that you should address right away.

You Need A New Will

You need to revise your will to include the legacy you wish to leave to your newest family member(s). If your will is out-of-date your surviving spouse and/or your child may not get the share of your estate that you wish them to have. As well, if you do not have a valid will and your child is under the age of majority, the money your child inherits may be held or managed by provincial or territorial authorities until the child reaches the age of majority. He or she would receive your inheritance in one lump sum and may not be capable of managing his or her sudden wealth.

Structuring a will and estate planning are especially difficult for blended families – and, when not done correctly, it can inadvertently eliminate one or more children, or even one branch of your blended family, from any share in your estate. You should know, too, that getting remarried voids any previous wills (except sometimes in Qu├ębec).

Name A Guardian

One of the most important parts of your estate plan is recommending a guardian in your will who will take care of your child if you and your spouse are unable to do so. Think carefully about who you should recommend.

The court is not bound to appoint the guardian that you recommend in your will, and may appoint someone else if the court feels you have made a poor choice. So choose wisely – and be sure to talk it over with the person you nominate.

Insure Your Child’s Future

You want to leave a sufficient estate for your child and life insurance can help you do that. As your beneficiary, your child will receive the proceeds of your policy, usually without a tax liability. But insurance rates go up with age and your health could also become an issue, perhaps preventing you from obtaining any kind of insurance coverage.

So act now. Without doubt, a later in life child is an enriching experience and by making the right decisions now, you will ensure he or she is financially and personally protected come what may. Your professional advisor can help you make those decisions and the many others that will keep your financial life growing along with your child.

John Scholl, CLU (Chartered Life Underwriter),CGA, B. Mathematics,
Financial Consultant - Investors Group Financial Services Inc.
& Investors Group Insurances Services Inc.
200 - 24 Queen Street East,
Brampton, Ontario L6V 1A3
Wealth Management & Financial Planning
Phone: (905) 450-2891 X529 Toll Free: 1 (866) 799-2223 x529 Cell (416) 731-3660 Fax: (905) 450-9747

Feel free to contact John to discuss your financial planning. Take the time now to make sure your family is well carred for.

Compliments of:
Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
905 828 3434
CELL 416 427 1875
betty@bettybart.com
bettybart.com

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Thursday, August 12, 2010

More HST Updates


On July 1st, the Ontario government implemented the HST as part of a tax plan designed to strengthen the economy. While lots of discussion surrounds the changes – let’s cut to the chase. Here’s what people buying or selling a home need to know.

About 93 per cent of all homes sold in Ontario are not subject to an additional tax amount under the HST.

It’s important to note, the HST is not charged on resale homes. In addition it is not charged on home insurance, and mortgage interest costs.

HST is charged on:
- real estate commissions
- legal fees
- new homes (The full list of what changes and what doesn’t change is available on the website (23 languages), PDF format and for free download as a mobile application. )

New Homes Rebate

Regardless of the price of new homes purchased as primary residences,, buyers may be entitled to a rebate in respect of the provincial part of the HST of up to $24,000, ensuring that buyers of new homes priced up to $400,000 will, on average, pay no more – or possibly even less – tax than under the PST system. The effect of the rebate is that homes valued over $400,000 will be subject to the 8 per cent provincial part of the HST on the amount above $400,000.

Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
Fine Homes In Nine Oh Five
Office: 905-828-3434
Fax: 905-828-2829
Cell: 416-427-1875
Email: betty@bettybart.com
Web Site: http://www.bettybart.com

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August 2010 Market Watch


Well, here is is, the middle of August and I'm just getting this little note out to everyone. To all whom I send out personal notes, sorry. There really isn't anything new to tell you. "Doom and Gloom" still headline the news. According to the powers that be, the Real Estate Market has stalled.

Has anyone taken a look at what happens to the market in the months of July and August? Take a look at this year and what we were faced with -- G20, Bank of Canada raised interest rates (only quarter point, but still....), HST (yes, it's here to stay), summer market, extreme heat, holidays taken by most --- just to name a few. When you add it all up, brakes get put on.

We all expected to be overrun by new listings. Well, that didn't happen. Even, me, I keep looking for property owners to list homes. Knocking on doors, making telephone calls (probably irritating some of you) hasn't made a lick of business. Buyers are very slow in purchasing what is out there.

My farming areas of Lorne Park in Mississauga and Oakville, have been doing well. Lorne Park has been noticed in the Toronto Star as being one of the neighbourhoods where prices of properies has increased. Lakefront properties are available.

I have included a small section of the August Market Watch so that you can take a glance at what is happening. For a complete report, please visit bettybart.com.

"Greater Toronto REALTORS® reported 6,564 sales in July – a 34 per cent dip from the record 9,967 sales reported in July 2009. New listings, at 10,825, dropped to the lowest level for the month of July since 2002.

"The level of July sales remained below the expected long-term trend. The market has become more balanced following record monthly sales through most of the winter and early spring," said Toronto Real Estate Board (TREB) President Bill Johnston.

Total sales through the first seven months of 2010 were up 12 per cent compared to the same period in 2009.

Notwithstanding the fact that price trends vary at the neighbourhood level in GTA, the average price for July transactions was $420,482, representing a six per cent increase over July 2009. Over the first seven months of 2010, the average selling price was up 12 per cent annually to $432,253.

"Market conditions promoting growth in the average selling price have remained in place. While July sales were down compared to last year, the number of new listings in the marketplace also fell. This means there was enough competition between buyers to exert upward pressure on price," said Jason Mercer, TREB's Senior Manager of Market Analysis."


To all who are still on holidays, enjoy. The weather certainly is co-operating this year. Get out and play a round of golf, if you are so inclined. Want to join me, let me know.

The EX is around the corner, Parks and Recreation have their registration for fall programmes on line, school buses are all over the place while they train the new drivers to transport our kids back to school, the Staples commercial is back (It's the Most Wonderful Time of The Year), and the stores are getting busy for those shoppers looking to equip themselves for the coming months.

Do you want to talk about Real Estate? Do you have any opinions that you would like to share with me? Want a Market Evaluation on your home? Want to change neighbourhoods?

Give me a call directly at 416 427 1875. Or just email me at betty@bettybart.com.

Have a wonderful August and I will be in touch again in September.

Kindest Regards,
Betty

Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
Fine Homes In Nine Oh Five
Office: 905-828-3434
Fax: 905-828-2829
Cell: 416-427-1875
Email: betty@bettybart.com
Web Site: http://www.bettybart.com


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not intended to solicit buyers or sellers under brokerage contract

Wednesday, August 11, 2010

Mississauga Home Evaluations


When we compare the number of Listings available in a current month vs the number of listings sold, we can conclude a ratio of Listings to Solds and How many months of inventory (Homes) are on the market.

This allows us to best optimize, how we can negotiate on your behalf to get the best possible deal.

Have you ever wanted a Market Evaluation done on your home? No obligation? At no cost?

I have made it easy for you: fill out the form, click the button and I will call.

Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
Fine Homes In Nine Oh Five
Office: 905-828-3434
Fax: 905-828-2829
Cell: 416-427-1875
Email: betty@bettybart.com
Web Site: http://www.bettybart.com

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