"By strategically contributing to your HSA throughout your working years, you can build up a substantial balance to help mitigate this impact of the rising health care costs that you're likely to face in retirement." Unlock the full potential of your Health Savings Account and take control of your financial future as our host Danny Gudorf of Gudorf Financial Group, guides us through the world of HSAs on this edition of the Limitless Retirement Podcast. Prepare to have your eyes op...
May 28, 2024•29 min
“Creating a three-bucket retirement plan is essential for a successful retirement that enables you to avoid being unnecessarily conservative.” Could your well-intentioned, conservative investment strategy for retirement actually be setting you up for financial instability? In this episode of The Limitless Retirement, our host Danny Gudorf flips the script on traditional retirement planning wisdom. He takes a deep look into the world of investment risk, timing risk, and the much-overlooked sequen...
May 21, 2024•31 min
“The problem is, a lot of people end up not retiring simply because they don't have the confidence to do it.” Navigating the murky waters of retirement planning often feels like trying to read a map in the dark, but what if there were a beacon to guide you through? That's precisely what our host Danny Gudorf offers in this latest discussion: a one-page financial plan designed to clear the haze of overwhelming choices and set you on a definitive path to a worry-free retirement. As Danny...
May 07, 2024•31 min
"I encourage all of my clients to view retirement not as what they're retiring from, but what they're retiring to. Thinking about retirement this way creates a mental shift and gives you a sense of hope and joy as you enter this new phase of life." Have you ever looked into your financial future and wondered how you can retire not just comfortably but with a genuine zest for life? That's the journey our host Danny Gudorf takes us on in the latest episode of The Limitless...
Apr 29, 2024•23 min
Welcome to the inaugural episode of The Limitless Retirement Podcast with Danny Gudorf, Owner of Gudorf Financial Group. Whether retirement is on your horizon, or you've already made the leap, this podcast tackles your most important questions about retirement. From real-life success stories to practical advice, each episode promises to enrich your understanding and equip you with the tools necessary for a retirement as limitless as your dreams. Make sure to Follow this podcast on Apple Pod...
Apr 29, 2024•5 min
Get ready to unravel the complex world of property taxes in Ohio with Attorney Ted Gudorf. This episode will leave you better informed and prepared for the ever-changing property tax landscape. Ted walks us through the recent surge in property values, breaking down what this means for you as a property owner, and how it differs from your home's resale value. Our host dives into the intricate details of the mass appraisal system employed by local counties and the independent appraisal proces...
Jul 25, 2023•19 min
Listen in as Attorney Ted Gudorf guides you through the complexities of funding a trust, in the latest episode of the Repair the Roof Podcast. This episode is dedicated to discussing the vital importance of fully funding your estate plan. Ted highlights the top seven items to transfer into your trust, the paperwork involved, and the legal implications. He also covers the specifics of transferring real estate into trusts, the role of title insurance, and the need for a general warranty deed in Oh...
Jul 11, 2023•33 min
Our host, Attorney Ted Gudorf unravels the intricacies of trust types and estate planning. He starts by examining the key distinctions between the types of trusts frequently created at Gudorf Law Group, and how these different trusts can protect your assets from lawsuits, creditors, bankruptcy, and divorces, and even provide a shield against Medicaid, federal, and state estate tax. Ted focuses on irrevocable trusts for Medicaid asset protection, emphasizing the role of a third-party trustee and ...
Jul 03, 2023•34 min
Are you prepared for the future of your estate? Our host, Attorney Ted Gudorf is here to help you avoid the five major estate planning blunders that could impact your family. In this episode, he tackles the skyrocketing cost of long-term care, as 10,000 individuals turn 65 every day and the probability of needing such care increases. Discover Gudorf Law Group’s preferred method of addressing long-term care, asset-based long-term care, and why it's essential for your future. Taxes and probat...
Jun 13, 2023•41 min
Discover the essentials of revocable living trusts with our host, Attorney Ted Gudorf, as he guides us through the 10 must-have provisions for success in a revocable living trust in Episode 19 of the Repair the Roof Podcast. Learn how to create a solid trust that not only protects your estate but also simplifies matters for your loved ones in case you become incapacitated or pass away. Ted addresses the importance of identifying the individuals involved, the significance of a spendthrift clause,...
May 23, 2023•16 min
Have you ever wondered what happens to your debts when you pass away? How can you protect your estate and your loved ones from being burdened by these debts? In this eye-opening episode of the Repair the Roof Podcast, our host Attorney Ted Gudorf dives into the inheritance dilemma and discusses the different types of debt that can impact heirs when someone passes away. He breaks down the difference between secured and unsecured debt, and explains how Ohio law handles estate debts. You'll al...
May 16, 2023•23 min
Have you yet found yourselves discussing estate planning and elder law basics as a couple? It's time to get serious about these critical topics, and Attorney Ted Gudorf is here to guide you through it all. He covers everything from having a conversation about your estate plan goals, to sharing information about assets, income, and debt, and even deciding whether to own assets separately or jointly. He also dives into planning for incapacity, long-term care insurance, and the many options av...
May 09, 2023•21 min
Our host, Attorney Ted Gudorf explains the importance of a General Power of Attorney in your estate planning journey, as he breaks down the differences between general and healthcare powers of attorney and explores the pros and cons of using a springing power of attorney. Get clear on Ohio's Uniform Power of Attorney Act, designed to bring clarity to the formation of general powers of attorney, and understand why these documents must be in writing, signed by the person granting it, and witn...
May 02, 2023•27 min
Is it better to create a limited liability company or establish a corporation? Each has its own pros and cons depending on whether you are an independent contractor, a small business, or a real estate investor. In part 1 of this two-part discussion, Attorney Ted Gudorf explains the key differences between LLCs and S-Corps. Members make up a limited liability company, or LLC. Any entity or individual can be a member of an LLC, with some notable exceptions being banks or insurance companies. The o...
Apr 11, 2023•32 min
1035 Exchanges, or Rollovers, are an underutilized provision of the Internal Revenue Code which allows owners of annuities or life insurance policies to roll them over on a tax-free basis for brand-new policies with added features and benefits. Listen in as Ted dives deep into how to take advantage of yet another powerful tool to avoid having to pay a penny more in taxes than you need, and build more wealth all the while! Offering actual examples of transferring one annuity or life insurance pol...
Apr 04, 2023•21 min
Two of the best options for realizing a substantial gain and eliminating capital gains tax on the sale of an investment property are through the sale of your personal residence or an installment sale. A third option to help you save on taxes and grow your wealth is to take advantage of 1031 exchanges, or rollovers. Listen in as Attorney Ted Gudorf breaks down the seven essential must-knows around like-kind exchanges set forth in Section 1031 of the Internal Revenue Code. Key Topics: Personal res...
Mar 28, 2023•16 min
There’s often a lot of confusion between the different types of irrevocable trusts, even as more and more people are forming them today. A trust is a relationship between a trust-maker and a trustee, and there are specific terms that the trustee is expected to follow. As a general rule, a trust can either be revocable or irrevocable. A revocable trust is one in which the trust can be revoked within the lifetime of the trust-maker. An irrevocable trust is one that cannot be revoked, which means t...
Mar 21, 2023•19 min
In 2018, the federal government collected over $170 billion in capital gains taxes. With all the economic turbulence we continue to experience in 2023, it’s more important than ever to understand the key concepts of capital gains tax to be better equipped to preserve our wealth. In this episode of Repair the Roof, Attorney Ted Gudorf defines the term “capital asset,” when and how it is taxed, and what strategies we can employ in our estate planning to avoid the payment of capital gains tax in a ...
Mar 14, 2023•19 min
If you give gifts on an annual basis, it’s important to know the rules to avoid ending up crossways with the Internal Revenue Service. For those with large estates, there is an exciting opportunity to do some planning prior to the sunset provisions kicking in on January 1, 2026, which will substantially change the laws. While today’s discussion focuses on federal law, it’s important to know what applies to you on the state level. Each of our 50 states can, if they wish, impose their own estate t...
Mar 07, 2023•23 min
With the number of baby boomers rising, more men and women are struggling to find appropriate ways to provide for long-term care. In Dayton, Ohio, it’s not unusual in 2023 to see assisted living care costs go as high as $8500 per month, and it’s not unusual to see nursing home costs exceed $12000 per month. With a medical inflation rate that is above the already-high regular inflation rate, the cost of care is clearly going to double in as little as ten years. In this episode of Repair the Roof,...
Feb 28, 2023•28 min
In this episode of Repair the Roof, Attorney Ted Gudorf offers his best advice on navigating the rising costs of long-term custodial care by laying out the basics of crisis Medicaid planning. Many of us across the country have had family members in need of long-term care. Over the last several years, there has been a rising cost for this care, whether it is at home, in assisted living, or at a nursing home. Certain steps have been taken to expand Medicaid coverage in certain states, whereas othe...
Feb 21, 2023•28 min
In this episode of Repair the Roof, Attorney Ted Gudorf discusses four basic yet essential steps to protecting your assets. It is becoming increasingly popular for estate planning clients to want to protect their assets from potential creditor claims, whether from lawsuits or other creditor-type actions including bankruptcy and nursing homes. How lawyers advertise today is drastically different from how they advertised half a century ago. In 1977, the United States Supreme Court determined that ...
Feb 14, 2023•42 min
In this episode of Repair the Roof, Attorney Ted Gudorf discusses why asset alignment, or funding, is key to having an effective estate plan. Asset alignment revolves around making sure that the assets you own are properly titled, whether in the name of your revocable trust, your irrevocable trust, your limited liability company (LLC), or your individual name with a designated beneficiary. Before diving into asset alignment, it is important to first identify the assets you own and in whose name ...
Feb 07, 2023•22 min
In this episode of Repair the Roof, Attorney Ted Gudorf discusses the three legal documents you need to have to make sure your medical decisions are taken care of, whether you’re 18 years old and going off to college, or 95 years old and in a nursing home. It is extremely important to be clear about whom you want to make medical decisions for you when you can’t, and also to give you some guidance about end-of-life decisions. The first document is a HIPAA (Health Insurance Portability and Account...
Jan 24, 2023•24 min
In this episode of Repair the Roof, Attorney Ted Gudorf discusses what to expect at your initial goals and responsibility (G&R) meeting. This is the second step in the process after you have completed and submitted the client organizer. He unpacks the first conversation you will have with a member of our legal team: what questions you are going to be asked, what questions you should be asking, and what documentation you should bring to the meeting. At the G&R meeting, you will go over tw...
Jan 17, 2023•18 min
In this episode of Repair the Roof, Attorney Ted Gudorf talks about how to select an estate planning attorney, outlining the eight questions you should ask when hiring one, and why you should ask them. The first thing to ask is, Are you a board-certified specialist in estate planning, trust, and probate law? The process is fairly extensive and so many attorneys aren’t certified. The second question should be, How do you charge for your services? Some charge hourly, which can quickly build up in ...
Dec 22, 2022•14 min
In the second episode of Repair the Roof, Attorney Ted Gudorf explores the differences between wills and trusts. A will, he explains, is a legal document where you provide a set of instructions on how you want to handle your estate when you pass away. It functions after your death and provides you with nothing before it. It only encompasses that which is in your name alone and guarantees that your estate will go through probate. Probate is a court-supervised process where wills are submitted, an...
Dec 22, 2022•15 min
Attorney Ted Gudorf kicks off the inaugural episode of Repair the Roof with a bit of his own story. One of 11 children, his parents weren’t able to attend college themselves, but certainly wanted their kids to. This inspired Ted to motivate others, which he does through estate planning. When his dad developed Alzheimer’s after his mother’s death, he was further inspired to educate himself in elder law. While estate planning is common, the legal profession is lacking in terms of long-term care pl...
Dec 22, 2022•10 min
Welcome to the Repair the Roof Podcast! It's named after President Kennedy’s famous quote: “The time to repair the roof is when the sun is shining.” The Repair the roof podcast is about all things estate planning and elder law. Your host Attorney Ted Gudorf is board certified in Estate Planning and Elder Law. Gudorf Law Group has been practicing in Estate Planning and Elder law in Ohio for over 35 years. The podcast episodes will last anywhere from 10 to 25 minutes and will explore differen...
Dec 21, 2022•3 min
