Page 12 - Palm City Spotlight - September '19

Page 12, Palm City Spotlight

estate planning

Put Down Your Cell Phone texting and thereby reduce injuries. Since 2013, law enforcement law enforcement officer must indicate the type of handheld

When Driving officers have been authorized to stop motor vehicles and issue device used and that information is reported to the Division
citations for texting while driving as a secondary offense, which
of Highway Safety and Motor Vehicles and reported to the
means the driver could only be charged if the driver had already governor and the Florida legislature.
By Carrie Lavargna, Esq. been lawfully stopped for another traffic offense. The officer is also required to inform the motor vehicle
Put down the cell phone This year the Florida legislature amended the Florida Ban on operator of his or her right to decline a search of the wireless
while driving especially in a Texting While Driving Law. The new law changes enforcement device. A person’s consent for the officer to search his or her
school or work zone! of the texting ban to a primary offense, which will allow law cell phone must be voluntary and unequivocal and cannot be
Texting while driving enforcement to stop a vehicle solely for texting while driving. obtained through coercion or any other improper method. The
is among the worst of all As of Oct. 1 of this year, the new law also prohibits the use officer is not allowed to access the device without a warrant or
driver distractions because of a cell phone in a designated school crossing, or in a school to confiscate the device while waiting for a warrant to be issued.
it involves manual, visual zone or work zone. This includes texting and talking. The texting and handheld prohibition does not apply to the
and cognitive distraction, Using a handheld cell phone in violation of the law is a use of a navigation device or to cellphone use in a stationary
according to a recent report moving violation and comes with three points assessed against motor vehicle.
from the National Highway the driver’s license. For the first violation a person can elect to This is a good law. Stay off your handheld cell phones while
Traffic Safety Administration. participate in a driving safety program geared towards wireless driving for safety and to avoid a citation.
The report found that sending device driving safety. This column is an overview of the subject matter and is
or reading a text message while driving takes the driver’s eyes The clerk of court is authorized to dismiss a case and reduce not intended as legal advice. Carrie Lavargna is an attorney
off the road for an average of five seconds, which at 55 mph is court costs for a first-time violator of the handheld prohibition practicing law in Stuart at Lavargna Law, PLLC. She is board
like driving the length of a football field with one’s eyes closed. if that person shows the clerk proof of purchase of hands-free certified in real estate law by the Florida Supreme Court and
In 2013, the Florida Ban on Texting While Driving Law was equipment. recognized as an accredited estate planner by the National
enacted to improve roadway safety, prevent crashes related to For using a handheld cell phone in violation of the law, the Association of Estate Planning Councils.

real estate

Treasure Coast Real Estate Do you think that the seller paying 3 percent to a When listing a property, I typically look at what

Report buyer’s agent might have an advantage over the one the other properties in that neighborhood are offering
paying 2.5 percent? Do you think that a buyer’s agent,
buyer’s agents. I also look at what recent sold or pending
either consciously or unconsciously, might favor selling properties offered. That way the seller and I can determine
Selling? Consider real estate commissions to one property over another? if we would be negotiating ourselves with a discounted
attract more buyers Some experienced sellers recognize this reality. In some commission, or if it should be no problem.
By Jim Weix cases, they even sweeten the deal for the buyer’s agent by If you need to find this information out, feel free to
When people list their offering a bonus in addition to the 3 percent. contact me.
property, they know that it This should be important to consider when listing Jim Weix is a Broker Associate with The Keyes Company.
is going to be marketed to your property. Although an agent offering a discount Jim has 23 years of experience selling real estate full time. If you
potential buyers. With that might sound appealing, this could be putting you at a have questions or want the services of an experienced expert,
in mind, they and their agent disadvantage. you can reach Jim at (772) 341-2941 or jimweix@jimweix.com.
present it in the best way
that they can. They freshen
things up, remove clutter,
use lots of pictures, include Wealth ManageMent
a virtual tour, and focus on
marketing to the public.
But what about the marketing to the agents that are Managing Market Risk long period of time, they also carry greater risk. Bonds
representing those potential buyers? About 90 percent tend to be less volatile, but they do not have the same
of buyers use a REALTOR . Even with For Sale By Interest rates, political growth potential as stocks. Cash is generally immune
®
Owner properties, most buyers prefer to use an agent agendas, and other from market volatility, but its value may be eroded by
to represent them. economic forces can lead inflation. Depending on your time horizon, goals, and risk
It is no secret that with low inventory, you have more to market volatility. This tolerance, some combination of these three asset classes
is prudent.
agents competing for fewer potential listings. The result volatility can stoke fears
and motivate investors to
has been that many listing agents are willing to discount make rash decisions that Diversification
their commission. That sounds good to sellers. However, ultimately jeopardize their Once you have determined an appropriate asset allocation,
it could be that a discounted commission is working financial future. Although you must diversify your investments within each asset
against them. you cannot control the class. For example, the funds allocated to stocks should
be spread across a variety of holdings. Diversification may
With a typical listing contract, the seller agrees to pay economic forces that drive help minimize the impact of volatility while providing for
market volatility, you can
a certain commission, let’s say 6 percent. Then the seller control how you react more consistent returns over time.
and agent agree that a certain amount of that will be paid when volatility occurs. A
should another agent procure the buyer. In most cases it well-designed financial Rebalancing
will be 3 percent, or 50 percent of the total commission. game plan will incorporate As diversified investments perform differently, your assets
may stray from the desired allocation. When the stock
If the commission is 5 percent, then the “split” might be certain strategies to help
defend against the pitfalls you may encounter when market is doing well, stocks may become over-represented
2.5 percent. managing market risk. in your portfolio, introducing more risk than intended. In
order to minimize your exposure to undesired risk, you
Perspective and Time Horizon should regularly rebalance your portfolio. Rebalancing
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