Griffin Financial Advisors, LLC

Last week, Aretha Franklin-Queen of Soul, passed away from pancreatic cancer. This week, the New York Times reported that Aretha died without a will or trust. Her estate, roughly 80 million dollars, will now become a public nightmare. The nightmare will start in probate court where her children will attempt to divide Aretha’s assets and pay her debts. This process can take years before it is settled, often destroying family relationships, while leaving the IRS and litigation attorneys the real winners. What is Estate Planning? Estate planning is the process of planning in advance to allocate your possessions to the people or organizations of your choice before death.   When you pass on, the whom , what and when needs to be answered for your assets and this is accomplished through proper estate planning. Will and Trust . A will or trust should be the main component of your estate plan. Wills ensure belongings, normally items without titles, are distributed according to...

In today’s investment environment, an investor can choose from numerous products. Mainly, you are just choosing to invest in stocks, bonds, and cash.  As you begin your investment selection process, you start by filtering through all the investment products available.  Once you do, chances are you will run across what is called a “target date fund”.  Target date funds are most common in 401(k) retirement plans and you probably have them in your company's plan.  So, what exactly is a target date fund and how is it different from other investment products? At its core, a target date fund, is a mutual fund that strives to grow assets over a specific period of time. The goal of a target date fund is very similar to other mutual funds; however, they differ by taking into consideration your desired retirement age.  This is why target date funds have commonly been referred to as “age based” funds.  As an individual gets closer...