This is a really cool tool: enter in the amount of the mortgage you are thinking about, and it will calculate regular payments as well as how long it will take to get to certain points of principal being paid down. Check it out here.
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cesia@wall-arm.ca
A storage solution
When I see clients to do will instructions, part of what I do is create a snapshot of what the client has in terms of assets, whether that is physical (car, bank account, house) or digital (email account, social media, online gaming). This is extremely helpful when it...
The benefits and pitfalls of joint ownership
I have a lot of clients ask me about adding a child on title to their house. Usually, I do my best to talk them out of it. In very limited circumstances, it can make sense to add a child on title. I had one client who had only one child; that child had moved in with...
Teaching children the value of giving
A little while ago, I came across this article by Ron Lieber on bringing his children into the family’s decisions on annual charitable giving. Basically, they decided last year that they would choose, as a family, those charities that they would give to over the...
Happy Victoria Day!
The last Monday before May 25 is Victoria Day in Canada. The holiday has been celebrated since before Canada became an official country. Originally it was observed on Queen Victoria's actual birthday of May 24, but it was changed to a variable date in 1952. It is a...
Let the agent beware
Last week, I blogged about why sellers have to disclose certain issues to buyers. This week, I want to talk about agents. The seller is liable if he or she hides something. However, if the seller doesn’t try to hide something, but the agent discourages the buyer from...
Answer the questions
In our office, we have all of our estate planning clients fill out a questionnaire before coming in to see us. Our questionnaire is about five pages long, and goes through who is in the family, what assets you have, and whether you have agreements that we might need...
Honesty is the best policy
In Ontario, we have a buyer beware real estate system: generally, the seller does not have to disclose anything about the house. The exception to that rule, of course, is that the seller cannot actively conceal anything about the house. If you had a leaky roof and...
A Hollywood estate done right
A short time ago, Paul Walker, star of the Fast and Furious movies, died in a car crash. He left behind a 15-year-old daughter and an estate worth an estimated $15 million. He drafted his will back in 2001, when his daughter was very young, and named his father as...
Always, always, get it in writing
If you are buying a house, it is important to have everything that is important to you in writing. Want the owners to keep mowing the lawn until closing? Get it in writing. Want that beautiful light fixture in the dining room? Get it in writing. This is fairly common...