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Show WEDDINGS Gardner Mortensen Nolan and Margaret Gardner are pleased to announce the marriage of their daughter Susann to Cody Andrew Mortensen son of Andrew and Shauna Mortensen on the 26th day of June 2009. You are invited to attend a reception held in their honor June 26th 2009 at St James Place, 600 S. St James place Cedar City UT 6PM to 8PM. June 27th 2009 at Red Rock City, Tropic UT 6PM to 8PM Choose Mutual Funds Carefully to Help Diversify Portfolio Article Provided by Brandon Henrie, Financial Advisor for Edward Jones Investments If you’re somewhat familiar with investing, you probably have heard that owning mutual funds is a good way to help diversify your portfolio. Is this true? And, if so, how should you go about selecting the right mutual funds? To begin with, let’s quickly review the importance of diversification. By owning a variety of investments— such as stocks, bonds and government securities — you can help reduce the effects of volatility on your portfolio. And while diversification by itself cannot guarantee profits nor protect against a loss, a diversified portfolio can help you reduce the impact of market downturns that may hit one asset class particularly hard. Because an individual mutual fund invests in many different securities, it automatically brings a certain degree of diversification to your portfolio. And yet, you can’t just purchase any combination of mutual funds and expect good results. Consider this: There are more than 8,000 mutual funds in the financial marketplace, according to the Investment Company Institute, the trade group for the mutual fund industry. About 60 percent of these funds are stock funds, with the rest being “hybrid” or “balanced” funds (which in- Page 3 The Garfield County Insider June 18, 2009 vest in a mix of stocks and bonds), taxable bond funds, municipal bond funds, and money market funds. With such a large number of funds available, and with a finite amount of stocks, bonds and other securities in which these funds can invest, it’s easy to see that there is going to be considerable duplication among many of these mutual funds — and duplication is the opposite of diversification. Consequently, when you invest in mutual funds, you can’t just adopt a philosophy that can be boiled down to “the more, the merrier.” Furthermore, it isn’t just a matter of one “large-cap growth” fund looking like another. You might find that the large-cap fund (a fund that invests in stocks of large companies) is also quite similar to a “technology” fund. So, what’s the solution to avoiding “overlapping” funds? There’s no magic formula — you have to do your homework. Before purchasing a new fund, look closely at its holdings, which will be posted on the fund’s prospectus. (Also, while you’re looking at the prospectus, make sure you understand the fund’s investment objective, risk, charges and expenses.) Then compare these holdings to the ones listed on your existing mutual funds — if you see too many re- dundancies, you may want to take a pass on this particular fund. Ultimately, your first step in diversifying a mutual fund portfolio is to identify your individual risk tolerance and investment objectives. Are you a conservative, moderate or aggressive investor? Do you need growth, income or a combination of both? Once you’ve answered these questions, you can then begin selecting the right mix of mutual funds to help you achieve your financial goals. Of course, with all the variables involved, both in your personal situation and in the funds themselves, you may want to enlist the help of a professional financial advisor — someone with the experience to help you choose those funds that are right for you. Many people have successfully incorporated mutual funds into their investment strategy — and with the proper effort and assistance, you can too. Mutual funds are offered and sold by prospectus. You should consider the investment objective, risks, and charges and expenses carefully before investing. The prospectus contains this and other information. Your Edward Jones financial advisor can provide a prospectus, which should be read carefully before investing. Every1Counts Take a Chance on Someone By Cynthia Kimball Humphreys Okay, I must tell all of Well, yeah, that is how you, “Thank you.” A huge it’s been with my columns. thank you, that is. But, along with these For what, you wonder? editors of these rural papers For putting up with me I must tell you that I also writing these weekly col- have a really cool Salt Lake umns. I know, I know, Deseret News editor who sometimes they haven’t has given me a chance as flowed the best (trust me. I a southern Utah corresponread them after they get pub- dent. He is amazing. lished and I must agree). Talk about being in the And sometimes words right places at the right were spelled incorrectly or times. I even left them out comI feel extremely fortunate pletely! and blessed. But I appreciate you Anyway, I do hope readreading my columns any- ing this week’s column will way and for supporting and inspire you to give others a believing in me. chance. The best part about writPerhaps you know someing four columns a month one who has talent, but for over a year? needs some coaching and How about a book manu- molding. script! Perhaps you are the perIsn’t that cool? son who can help coach and I think so. mold them. And yes, I’ve revised Do it. Please. most all of the columns for After all, I can’t imagine the book so they read much, people not being there for much better. Next, it will me. And the difference and be in an editor’s hand (that impact they’ve made and could be scary or better yet are making. exciting!). And for those of you who But first, a gigantic thank call or email and tell me that you to the editors of these you like what you’ve read, rural papers who gave me a thank you. That goes also chance and an opportunity. to those of you who stop and My situation is a lot like tell me face-to-face. Doing what happens on reality the latter has not only made shows such as ‘American my day, but inspired me to Idol’ or ‘So You Think You do better. Can Dance.’ You know, And, of course, thank where one week contestants you to those who’ve found kill or nail a song or dance my mistakes. You make me and the next it is an absolute better, too. disaster. I’m also grateful to the high school counselors who let me hold off on interviewing their students for an article so that I could finish my book. I look forward to doing that in September. Now, I’m not going anywhere, I mean, I’ll still be writing this column. I did, though, just want to share my appreciation with everyone and again, suggest you give someone else a chance. In the meantime, I’m hoping and praying that I’ll be on the New York Times best seller list. Say it isn’t possible? I say, “Anything’s possible.” Actually, it’s not so much being on the New York Times best seller list as it is making a difference in the life of another. Doing that? Well, that’s really all that matters. For information on coaching, consulting, speaking or training contact: Cynthia Kimball Humphreys, Vice President, Every1Counts, P.O. Box 574, Hatch, UT 84735. Ph: 435.632.1489, Fax: 435.735.4222 or Email: kimball@every1counts.net. Website: www. every1counts.net. © 2008 Every1Counts, LLC. All rights reserved. Three Years: Estate Still Not Closed! THE ELDERLAW FORUM ~ Professor Michael Myers Dr. Barnett’s MOBILE ORTHODONTICS We will be in Panguitch in the afternoon on July 1st for Complimentary Orthodontic Consultations Call 896-4930 to schedule an appointment for you or your family A woman dies with a $350,000 estate. Her heirs wait for a distribution. They are patient. How patient should they be? How long should it take to close an estate and distribute its assets? “Is there a law that an estate must remain open for three years before it can be closed?” asked a caller to the senior legal helpline. “It has been three and a half years since mom died and all we get from the lawyer and the bank are excuses. “The bank blames the lawyer and the lawyer blames the bank. What can we do?” The caller’s sister is the personal representative of the estate. “She’s frustrated; we’re all frustrated. We are a close family and there is no disagreement about who is entitled to how much. The lawyer had an illness and that may be part of the problem.” I advised the caller there is no fixed time required before an estate can be closed. A final account and petition for distribution can be filed when there are sufficient funds available to pay all debts and taxes and the time for filing creditors’ claims has expired. In the caller’s state, a final account does not have to be filed if all persons entitled to distribution of the estate sign a written waiver of account or a written acknowledgement of receipt of their share of the estate. If the estate cannot be closed within one year—or 18 months if the estate is required to file a federal estate tax return— the personal representative must file a verified report on the status of the estate. The status report must state the condition of the estate and the reasons why it cannot be closed and distributed. Reasons might be ongoing litigation, or an estate tax audit, or real property that must be sold. The report must estimate the time needed to close the estate. “We assume the longer the estate is open the more time the lawyer will spend working on it and the higher his fees. Is that a correct assumption?” she asked. In some states fees for both the attorney and the personal representative are set by statute. For example, California provides for four percent of the first $100,000; three percent of the next $100,000; two percent of the next $800,000 plus one percent of the next $9 million, plus one-half of one percent of the next $15 million. In the caller’s state the fees must be deemed “reasonable” and approved by a court. What may not be reasonable in this case is the delay in closing the estate. J.W. DISPOSAL 1270 East Highway 89 • Panguitch, Utah LET US BE YOUR FULL-SERVICE WASTE REMOVAL PROVIDER!!! We provide weekly curb-side pickup for all Garfield and Piute County Residents $11/ Monthly (use of black can included in price). Please ask about our single senior discounts. We also provide 4-6 yard dumpsters for your business needs; with your choice of weekly, bi-weekly, or monthly pickups. We also have 15 yard roll-off bins for any construction or clean-up needs. We service all Garfield, Piute, Kane, and Iron Counties. We guarantee to meet or beat any competitors prices. For quotes or questions call: Wally (435) 616-8376 Amber (435) 676-8199 Business line (435) 676-8375 - Please leave a message. |