menu

Anthony Layton MBA, CIM

Chairman & CEO, Portfolio Manager

Peter Guay MBA, CFA

Portfolio Manager
Contact
  • T514.875.7566 x 224
  • 1.800.875.7566
  • F514.875.9611
  • Place Alexis Nihon
  • 3400 de Maisonneuve Ouest,
    Suite 1501
  • Montreal, Quebec H3Z 3B8
May-23-17

Have You Got a Will?

Welcome back to “Do It Together” financial planning. Today, I’m kicking off my new series by exploring the “why,” “what,” and “how” of having a good will in place.

Why would I begin with one of most people’s least-favorite subjects? Because it’s also one of the most important. You probably already have a general sense that you don’t want to put probate courts, government officials or similar outsiders completely in charge of your loved ones’ financial interests. That’s why it’s so important to document how you want your finances to be handled when you’re not around.

 

But what does it take to get that done? There are a few important things to know. Fortunately, they aren’t quite as complicated as you may fear. In today’s video, I’ll walk you through an overview. Tune in … and sign up for future “Do It Together” shows while you’re there.

By: Peter Guay | 0 comments
May-19-17

Tony's Take: Five rules when buying a cottage

Thinking of becoming a cottager? Here are some points to consider.

1. Location

A place in the country offers an escape from the pace of urban life, but make sure you know what you want in terms of location: lakefront, ski chalet, former farm, or in a village.  And remember to consider privacy and access. What about ease of ownership – do you want minimal upkeep or do you enjoy doing outside chores such as property maintenance?

Takeaway: Be your own devil’s advocate and ask yourself if cottage ownership really is right for you. Sometimes renting is a more practical route.

2. Price

How much do you want to pay? Waterfront on a sought-after larger lake will almost certainly be in the $1-million-plus range, as are homes at ski resorts such as Tremblant or Blue Mountain. A survey last year by realtor Royal LePage showed that recreational property prices and sales in Quebec and Ontario have slightly increased recent years. As well, the low Canadian dollar is attracting American buyers to prime locations, and also prompting some Canadians with Florida properties to cash out and buy back home.

Takeaway: Don’t rush into a purchase. There is value out there, but it takes longer to find it in the country than in the city.

3. Zoning and environment

When considering a particular area or property, find out about zoning restriction, such as setbacks from lakefront or property lines and rights of way. Are there strict environmental regulations? This can be both a plus or a minus, depending on your circumstances. What about local homeowner associations and conservation groups? Is land in the area owned (and thus protected) by the Nature Conservancy of Canada?

Takeaway: Local rules can make a big difference in your long-term enjoyment of a property, so do your homework.

4. Infrastructure and inspection

A key consideration when buying rural land is source of water and septic system. Are utilities (electricity, telephone, internet) close at hand and do they meet your needs? A thorough building inspection is essential, including conformity with bylaws.

Takeaway: If an inspection reveals too many issues, don’t let your emotions drive your decision.

5. Financing and legal

If you need a mortgage, be aware that few lenders will finance a three-season property. Moreover, for a higher-ratio loan, you will need to arrange private mortgage insurance, as CMHC doesn’t insure second homes.

Takeaway: Consider refinancing your city home to fund a cottage purchase.

A cottage typically becomes a family asset, so you should include estate planning in this process. We are experts in this area – please give us a call. We can help.

By: Anthony Layton | 0 comments
May-09-17

Why “Do It Together”?

In my last “Do It Together” video for busy professionals, I introduced the notion that your financial interests may be best served when you achieve good balance between being engaged in your financial planning, without having to handle all the details all by yourself.

If you’ve never been in a “Do It Together” relationship with a financial advisor, you may be wondering what that looks like, how it fits into your lifestyle, and what value it brings to you and your family.

Today, I’ll take a closer look at that. After that, we’ll roll up our sleeves and start exploring some specific “Do It Together” topics. Have you got matters on your mind you’d like to know more about? Send me your own ideas any time.

 

By: Peter Guay | 2 comments
May-09-17

Introducing “Do It Together” Financial Planning

There’s an inherent dilemma in a busy professional’s life. The more successful you are in your career, the wealthier you become. Good for you! But more money also means more complicated financials. Eventually, they become more than you want to manage on your own, until you reach a point where your personal finances are best served by a “Do It Together” approach.

What’s “Do It Together” financial planning? It’s that sweet spot between understanding your financial interests – knowing the right questions to ask – without feeling as if you must take care of the zillions of details all by yourself.

I’m Peter Guay, a portfolio manager and financial planner at PWL Capital’s Montreal office. Whether we’re talking about wills or insurance, business structures or rental properties, taxes, investing or any other planning questions you may have, my “Do It Together” series will help you organize your financial life, without having to spend your entire life worrying about it.  

 

Check out today’s video to learn more, and sign up for future segments by following my YouTube channel.

By: Peter Guay | 2 comments