The Citizen, 2006-02-02, Page 12S holdice
FINANCIAL
SERVICES
Susan Alexander, CFP
Doug Sholdice
472 Turnberry St. PO Box 69
Brussels, Ontario NOG 1H0
Phone: 519.887.2662
Toll Free: 1.866.887.2662
Fax: 519.887.267i
Email:
salexander@ peakgroup.com
awrence Beane
INTERGLOBE
Financial Services Corp.
Financial Services Mutual Fund Dealer
Let me help you retire in
comfort and style
RRSP DEADLINE: MARCH 1, 2006
Check out RRSP and RRIF plans designed to meet your needs.
GIC, Mutual Funds, LSIF, Seg. Funds.
— for the 2006 RRSP season —
Invest in your future today! Lawrence Beane
CLINTON 482-9924
GODERICH 524-9260
CALL OUR TOLL-FREE NUMBER 1-888-235-9260
9 Rattenbury St. E., Clinton, ON NOM 1 L0
Make your money work as hard for you as
you did for it.
See Lawrence for a
free consultation.
•
FundTrade
t I 0 t. tAt t Oar
/2k Bert Askes cFp
DON'T PUT ANY MORE MONEY INTO
YOUR RRSP!
CHECK WITH US FIRST
to see if Canada Revenue Agency'will
benefit more from your RRSP than you!
Proper planning will ensure that you have a:
Responsible
Realistic
Secure
Plan
That is set up for your benefit.
152 Josephine St. S., Box 849
Wingham, Ont. NOG 2W0
Tel: (519) 357-4554
Toll Free: 1 888 3494447
Fax: (519) 357-2879
130 inkerman St. W.
Listowel, Ont. 144W 1B7
Tel: (519) 291-6006
Toll Free: 1-866-323-5534
Fax: (519) 291-2733
stewardf.s@bollnet.ca
PAGE 12. THE CITIZEN, THURSDAY, FEBRUARY 2, 2006.
Financial
A will
your most personal document
(NC)-Every person should have a
will, which should cover at least
seven essential points to avoid
difficulties in the future.
I. Make sure only one will exists.
2. Determine who you want as
your executor.
3. Carefully plan for your
dependents.
4. Name a guardian for young
children.
5. Detail specific monies or gifts to
relatives, friends or charities.
6. Consider what people — or
organizations such as a health
charity or Amnesty International,
should receive the residue of your
estate.
7. Put in writing the details of your
funeral arrangements.
(NC)-If you're a person with a
disability and a low income, this
information may be of interest to
you.
Canada Mortgage and Housing
Corporation (CMHC) provides
financial assistance so that low-
income people with disabilities can
(NC) — Before you take out a loan
on your house to launch your
business, ask your lender about the
Small Business Financing Act
(CSBFA), says James Byrne,
director of the Small Buiiness
Funding Centre (SBFC), which
helps small businesses launch and
grow their businesses through
grants, low- or no-interest loans, and
other forms of financing.
In fiscal 2001-2002, 11,142 small
business loans were registered under
the Act. And the average loan size
was $82,134, says Byrne, whose
website offers small business
information and advice at
www.Help.Grants-Loans.Org
Under this Act, the Govemment'of
Canada underwrites 85 per cent of
lenders' eligible net losses on
defaulted loans registered under the
program. Banks or other financial
institutions actually assess the
After you have taken care of these
basic issues, you may want to
consider a few other areas.
A will is more than a' simple
outline of the final distribution of
property and effects.
It is an occasion to carry out your
plans for the financial support of
people and projects that you have
actively supported during your . lifetime.
It can also be the time to finally
help those people and groups that
you always intended to support but
didn't have the resources to do so.
Update your will
If your financial circumstances
have changed significantly as a
result of purchases, investments,
inheritances, inflationary increases,
make home modifications to
eliminate imminent life safety risks
and physical barriers, and improve
the ability of occupants to meet the
demands of daily living within the
home.
Begin with the persons with
disabilities (PWD) website, at
application and loan the money,
but the government's guarantee
makes them more attractive to
approve.
So if you need a loan to finance
the purchase or improvement of
fixed assets, you may be able to get
a term loan directly from an
authorized lending institution, says
Byrne. Most small businesses
starting up or operating in Canada -
except for farming, charitable and
religious enterprises - can be eligible
as long as their estimated annual
gross revenues don't exceed $5
million.
Businesses may be operated as
sole proprietorships, partnerships or
incorporated companies.
For more tips and advice on
getting government funding to
launch or build your small business,
visit the SBFC's website at
www.Help.Grants-Loans.Org
business growth, etc., you should
reflect these changes in your will.
How often you do this will
depend on the wording of your
original will and how significant the
changes in your circumstances are.
Certainly, anything that is not
specifically detailed in your existing
will should be noted now.
Changing lifestyles and interests
If you have not examined your
will in a number of years, you may
want to consider whether it
adequately covers your current
lifestyle, attitudes and interests.
People realize that if they have
retired, or , have changed
occupations, or even if their family
situation has changed, they may
want to reconsider the terms of their
www.servicecanada.gc.ca - just
click on "A person with a disability"
and it will take you to the site you
need. From there you can browse
through such topics as Housing,
Home Repair and Modifications or
Rental - Subsidies and Social
Housing.
You will see that one of the best
programs available to homeowners
and landlords with low-income
occupants with disabilities is the
Residential Rehabilitation
Assistance Program for Persons
with Disabilities (RRAP-D), offered
by CMHC.
What assistance is offered?
Financial assistance is in the form
of a forgivable loan. For eligible
homeowners (see below), assistance
is provided for 100 per cent of the_
total cost of the modifications up to
the maximum loan amount for the
region. Recipients must agree to
continue to own and occupy the
home for the term of the loan.
For landlords, I00 percent
forgiveness is available tip to the
maximum loan on eligible units (see
below). Landlords must agree that
the units will continue to be
affordable to tenants, and in-the case
of rental units, new occupancy will
be limited to households with
incomes at, or below, established
income limits. More information
and loan examples are posted on the
CMHC website, www.cmhc.ca
Who is eligible?
• Homeowners may apply if the
wills.
Many people who could not
financially support groups or causes
to the extent they may wish during
their lifetime, use the opportunity of
their will to leave a legacy for future
generations.
Think it over: it's your will
White everyone involved in estate
planning agrees with the urgent
need to make a will, remember that
it is, in fact, your will. Consider
your own wishes and feelings.
Simply put — a will is an
important document, but if it does
not express your wishes, it is not
done well.
Talk it over. Consider the future.
Make a draft: Think again. Your will
is probably one of the most
value of their home is below a
specified amount, and if the
household income is at or below
established limits based on
household size.
• Landlords may apply for
modifications to units if the rents
are at or below established levels,
and if the units are occupied by
tenants with incomes at or below
the income ceilings.
The persons with disabilities
website is a reliable one-stop
resource, where persons with
disabilities, their family members
and caregivers can access a full
range of information on disability-
related programs and- services in
Canada. Topics include housing,
health,_ technology, employment,
travel, taxes and financial benefits,
and more. This information may
also be accessed, alongside other
topics of interest, through the
Government of Canada website at
servicecanada.gc.ca
important, and personal, documents
you will ever prepare.
Consult a lawyer
Experts strongly recommend that
you seek the advice of a lawyer
when making out your will.
Laws about will-making and
taxes can vary .from province to
province and the specific wording
needed to ensure that your wishes
are carried out may require the help
of a lawyer.
To receive a free information
package on wills and bequests,
please write to Amnesty
International, 312 Laurier Avenue
East, Ottawa, ON KIN 1H9.
Assistance
How to get the bank
to finance your business
• or accessibility