Page 11 - Palm City Bulletin - July '19

Palm City Spotlight, Page 11

real estate

Treasure Coast Real Estate Report be from work the previous It also prevents local governments from penalizing
homeowner had done. property owners for an open permit that was applied for
Relief In Sight For Property Owners With Unfortunately this is a by a previous owner. The remedies to open and expired
Old Expired Or Open Building Permits common problem in Florida. permits will become effective on Oct. 1.
By Jim Weix Too many homeowners just In most cases, when homeowners list their property for
Remember that new roof you had installed in 2005 after assumed that the contractor sale with a Realtor , the agent will check on expired or
®
the hurricanes? Or maybe you had to replace your lanai? that they hired would finish open permits. Better to address any issues at the beginning,
Do you know if the contractor that you hired ever closed the job by having their instead of two weeks before closing. Property owners
out the building permit by having the work inspected by a work inspected and the themselves may wish to check with the appropriate building
government building inspector? permit closed out. Now the department, even if they don’t plan on selling.
More than one poor homeowner, when selling their homeowner is stuck with the Thanks to this new law, the issue of expired permits will
property, has been blindsided with suddenly having to try problem 14 years later. become a lot more reasonable for property owners.
and close out open or expired permits before they could The good news is that Gov. Ron DeSantis signed HB Jim Weix is a Broker Associate with The Keyes Company.
close on their sale. At the least, it is a time consuming 447 into law, which provide remedies to open and expired Jim has 23 years of experience selling real estate full time.
nightmare. In the worst case, the hapless homeowner will permits. This will allow local governments to close a permit If you have questions or want the services of an experienced
be required to pay thousands of dollars for engineering six years after its issuance as long as no apparent safety expert, you can reach Jim at (772) 341-2941 or jimweix@
studies. To make things worse, the expired permits might hazards exist. jimweix.com.

Club news

Soroptimist International Of

Stuart Awards Change Lives

By Jackie Holfelder
On May 22, one of Soroptimist International of Stuart’s
most meaningful events took place, as the nonprofit presented
its annual Awards Celebration at Manero’s in Palm City.
Year after year, amazing women receive scholarships to help pave
their way as they initiate or continue life-changing career paths. Jill Keegan, Women in Transition Award Nidia Bernstiel, Live Your Dream Youth Service Scholarship Award Winner
Sabby Hightower was the Live Your Dream award recipient. Winner Gloriues Hartfield-Dennis and Award Winner Sabby Hightower and Anna McGovern (center) with parents
Parameters for the award specify the recipient be a primary Nidia Bernstiel Keegan at SIS annual Jill Keegan at SIS annual Awards Steve and Julianne Horton at SIS annual
breadwinner with more than one dependent who will use the Awards Celebration Celebration Awards Celebration
money for an education degree. Sabby has overcome hardships
that could have crippled one less determined, including the Gloriues Hartfield-Dennis. This individual must be 40 or older Pine School graduate Anna McGovern, who has compiled an
sudden death of her husband and a house fire in which her with no dependents, going to school to change her career path. impressive academic, volunteer and athletic resume, including
family lost much of their belongings. She is working towards Gloriues has made huge academic strides at IRSC, including starting an organic garden at the school.
an advanced degree in health care management at IRSC. She receiving her GED. She, too, received $1,500, and is returning The three scholarships are financed with proceeds from
received a $1,500 award. to the college campus to work on her degree in social work. Soroptimist International of Stuart’s annual Women of
The Women in Transition Award recipient was given to The Youth Service Award, which is for $1,000, went to recent Distinction dinner.
To learn more about Soroptimist International of Stuart, visit
www.soroptimistofstuart.org.
Wealth ManageMent Photos by Jackie Holfelder

Financial Planning For you through a few important tasks, such as adding your child to
Once your baby is born, the hospital staff will usually walk
New And Expecting Parents your health plan within the first 30 days of birth or submitting
the form to get your child a Social Security number. There are a
Regardless of your age, few important things, however, they may not remind you about
that you do.
becoming a new parent
Update your beneficiaries. Now that you have more than
is something no one can just yourself to care for, it’s more important than ever to ensure
fully prepare for. Although
sleepless nights and additional your beneficiary designations are up to date. This will ensure
the money you worked so hard to save goes to the appropriate
responsibilities are inevitable,
having a new baby can wreak people in the event something were to happen to you. If this
is your second or third child, don’t forget to review and adjust
havoc on your finances if (Seated) Donna Veight, Ken Austin, Paula Austin, Marie
you’re not careful. You will your beneficiaries to ensure all children are accounted for. Kennedy and (standing) Joseph Veight at SIS annual Awards
Create or adjust your estate plan. Another way to ensure

likely have to adjust your cash Celebration
flow to account for the added your child will be cared for is to update your estate plan. If
you do not have a current will or trust, now is the best time to
expenses of another mouth to
feed. Perhaps one spouse will create one. More importantly, naming your child’s guardian
in the event you and your spouse were to pass away is crucial
decide to stay home, leaving
you with one income. With so to ensuring your children are cared for in the event you pre-
decease them.
many changes being thrown
Don’t forget about your retirement accounts. As much
your way, here are a few tips to make it less of a financial shock. as we want to give everything to our children to ensure they get
Understand your coverage. Understanding of what
expenses your health insurance covers will help you determine the most out of life, do not forget about your own retirement
plan. You should always fund your own retirement before
what your maximum out-of-pocket expense is. Babies can be
expensive; in fact, the average cost of raising a child born in funding other goals. Be sure to consistently contribute to your
retirement accounts so you can retire and enjoy what you have
2015 from birth to age 17 is $233,610, according to the U.S.
Department of Agriculture, and this doesn’t even factor in worked for.

Consider funding a college savings plan or UTMA. After
college expenses.* Melvin Dennis, Nidia Bernstiel, Women in Transition Award
Estimate your healthcare costs. Once you understand paying for the necessities and funding your retirement accounts, Winner Gloriues Hartfield-Dennis, Live Your Dream Award
you may want to consider funding an account for your child. It
your insurance benefits, you should have an idea of the cost Winner Sabby Hightower and Mary-Jo Horton at SIS annual
of routine doctor’s visits, from your very first ultrasound to never hurts to open the account and fund it when life allows for
it. Any time your child receives a monetary gift, you can use
the birth of your child. It’s helpful to come up with a budget Awards Celebration
before your new bundle of joy arrives and adjust it as needed. those funds to save up over time. When it comes to saving, the
earlier you start, the longer you have to let your funds grow,
Once your baby is born, it may take a few months until you
are comfortable with your cash flow. and by the time your children are ready to attend college, you
will have funds to help with college expenses.
Save ahead for future expenses. While not all expenses
Stifel does not provide legal or tax advice. You should consult
are foreseeable, much of what comes with the cost of having with your legal and tax advisors regarding your particular
a child can be budgeted. Doctor’s visits and child care costs,
for instance, will likely be an ongoing, consistent amount. situation.
*Source: https://www.usda.gov/media/press-

Saving an extra $50 or $100 from each paycheck can help
pad your child care expense fund. releases/2017/01/09/families-projected-spend-average-233610-
raising-child-born-2015
Fund your HSA. If you have an HSA account, you can use
those funds for the routine doctor’s visits. When your newborn is
sick, the last thing you want to worry about is how you will pay Article provided by Bob Sander, Senior Vice President/ Yout h Se rv i c e Live Your Dream Award Winner Sabby
the co-pay and cost of medicine to get your baby healthy again. Investments, with the Stuart branch of Stifel, who has attained Scholarship Award Hightower, Youth Service Scholarship
®
™
Cut down or pay off old debt. Before adding new debt the Certified Financial Planner (CFP ) designation and the
®
®
with the cost of a child, it’s a good idea to pay off old debt if Accredited Investment Fiduciary (AIF ) certification. He can W inner Anna Award Winner Anna McGovern and
possible. This includes any credit card balances, student loans, be reached at (772) 403-8305 or sanderb@stifel.com. Stifel, McGovern at SIS Women in Transition Award Winner
and any other debt you can afford to pay off. Nicolaus & Company, Incorporated Member SIPC & NYSE annual Awards Gloriues Hartfield-Dennis at SIS
Celebration annual Awards Celebration