This conversation delves into the intricacies of estate planning, addressing common concerns and misconceptions. Ted Gudorf discusses the importance of clear legal designations, the role of trusts, the challenges of probate, and the necessity of planning for loved ones. He emphasizes proactive measures to avoid disputes and ensure that one's wishes are honored, while also touching on the implications of Medicaid planning. Takeaways Estate planning is crucial to avoid family disputes. Clear ...
Mar 11, 2025•13 min•Transcript available on Metacast In this conversation, estate planning attorney Ted Gudorf discusses the complexities of transferring property to children, particularly the pitfalls of gifting a home versus using a trust. He explains how gifting can lead to significant tax liabilities, such as capital gains taxes, and the complications of gift taxes. Gudorf advocates for the use of trusts as a more efficient and beneficial method for property transfer, highlighting their advantages in avoiding probate, providing tax benefits, a...
Mar 06, 2025•11 min•Transcript available on Metacast In this conversation, Danny Gudorf, a financial planner, discusses the essential steps for preparing for retirement. He emphasizes the importance of assessing one's financial condition, envisioning an ideal retirement, and connecting financial realities with retirement goals. Danny also addresses the common fears associated with retirement and provides a framework to help individuals feel more confident about their financial future. Takeaways Retirement can be daunting even for those financ...
Feb 27, 2025•17 min•Transcript available on Metacast In this conversation, Danny Gudorf, a financial planner, discusses strategies for generating tax-free income in retirement, focusing on the 0% tax rate on capital gains. He explains how retirees can structure their income to take advantage of this tax benefit, emphasizing the importance of tax diversification and strategic planning. The discussion also covers tax gain harvesting and the need for a flexible retirement plan that includes various account types to optimize tax efficiency and income....
Feb 26, 2025•15 min•Transcript available on Metacast This conversation explores the relationship between living trusts and taxes, clarifying common misconceptions and outlining when living trusts can be beneficial for tax savings. Ted Gudorf, an experienced estate planning attorney, discusses the limitations of living trusts regarding income and estate taxes, while also highlighting scenarios where they can provide significant advantages, such as estate tax planning and preserving the step-up in basis for heirs. Real-life examples illustrate how l...
Feb 22, 2025•12 min•Transcript available on Metacast This conversation delves into the complexities of survivor benefits in social security, particularly focusing on what happens when a spouse passes away before claiming their own benefits. It covers eligibility criteria, various scenarios based on claiming timing, and the importance of strategic planning to maximize financial security for surviving spouses. The discussion emphasizes the need for understanding the rules and making informed decisions to ensure financial stability in retirement. Tak...
Feb 14, 2025•16 min•Transcript available on Metacast This conversation focuses on crisis Medicaid planning, detailing how individuals can protect their assets while qualifying for Medicaid. Ted explains the eligibility requirements, asset limits, and various strategies available for both single individuals and married couples. He emphasizes the importance of legal planning and the role of Gudorf Law Group in assisting families during these challenging times. Takeaways Crisis Medicaid planning can protect a significant portion of assets. Medicaid e...
Feb 11, 2025•5 min•Transcript available on Metacast In this conversation, financial planner Danny Gudorf discusses the significant changes to retirement planning that will take effect in 2025. He covers various aspects including increased contribution limits for workplace retirement plans, the introduction of super catch-up contributions, changes to inherited IRA rules, and the new emergency savings accounts. Danny emphasizes the importance of understanding these changes for effective retirement planning and offers insights into strategic approac...
Feb 05, 2025•18 min•Transcript available on Metacast In this episode of the Repair the Roof podcast, host Ted Gudorf speaks with Mark George, owner of Issue Insurance Agency, about the significant trends affecting the aging population. They discuss the implications of increased longevity, the baby boomer demographic shift, and declining fertility rates on long-term care needs. Mark emphasizes the importance of planning for these changes and the disconnect between public perception and reality regarding long-term care requirements. Personal anecdot...
Feb 03, 2025•33 min•Transcript available on Metacast In this conversation, Ted Gudorf shares critical insights on forming a limited liability company (LLC) and highlights common mistakes entrepreneurs make during the process. He emphasizes the importance of selecting the right state for registration, the implications of management structure, and the necessity of a comprehensive operating agreement. By avoiding these pitfalls, business owners can establish a solid foundation for their ventures and ensure long-term success. Takeaways: Selecting the ...
Jan 28, 2025•10 min•Transcript available on Metacast "I think that the act of thinking about how to make the world a better place is transformative in the lives of humans." Join our host Attorney Ted Gudorf as he unlocks the secrets to impactful legacy planning with Stan Miller, a celebrated estate planning attorney and author. Stan takes us through his remarkable journey from the inception of his career to the successful expansion of his firm, Pinnacle Legacy Law, to his plans for the future of his educational platform, WealthCounsel. T...
Jan 17, 2025•38 min•Transcript available on Metacast Today, our host Attorney Ted Gudorf discusses the ins and outs of farm succession planning, so that you can have peace of mind that your life's work is preserved for future generations! Ted tackles the emotional and practical challenges faced by baby boomer farmers as they approach retirement. Discover how to navigate the complex landscape of estate planning, from managing reluctance to relinquish control, to mitigating potential family disputes, taxes, and operational hiccups. Communicatio...
Dec 31, 2024•18 min•Transcript available on Metacast In this conversation, Danny Gudorf, a financial planner, discusses eight powerful year-end tax saving strategies that can significantly impact your tax liabilities.He emphasizes the importance of these strategies in light of the impending expiration of the Tax Cuts and Jobs Act of 2017. The strategies include retirement plan contributions, tax loss and gain harvesting, Roth IRA conversions, charitable giving techniques, and qualified charitable distributions. Each strategy is designed to help in...
Dec 24, 2024•19 min•Transcript available on Metacast Today, our host Attorney Ted Gudorf is joined by Howard Halderman of Halderman Companies to discuss the evolving challenges and opportunities in farm management across Indiana, Ohio, and Michigan. Despite record crop yields in 2023, farmers face decreased incomes due to lower commodity prices. Howard discusses fluctuating land values, noting a peak in 2022 with a slight expected downturn. Ted and Howard explore the integration of renewable energy in agriculture, with a focus on financial benefit...
Dec 17, 2024•38 min•Transcript available on Metacast Today, our host Danny Gudorf discusses eight key factors to keep in mind when exploring part-time jobs and volunteer opportunities that fit your lifestyle in retirement. If there’s one key lesson to take away from this episode, it’s to seek balance between mental stimulation and physical activity while avoiding stress, as well as considering the right mix of financial rewards and employee benefits that different part-time options offer. As a retiree, you’ll be off to a running start on your sear...
Dec 03, 2024•19 min•Transcript available on Metacast What would you do if your current retirement savings plan is built on a myth? Our host, Danny Gudorf, flips the script on traditional retirement planning by introducing a little-known, yet powerful concept called the “Retirement Spending Smile.” Through it, he demonstrates why you may actually need 20% less in retirement income than you think to live a comfortable life! Danny explores the groundbreaking research by CFA David Blanchett and Michael Stein, the latter of whom coined the three phases...
Nov 26, 2024•14 min•Transcript available on Metacast "With penalties of up to three years in prison and a $10,000 fine for intentionally not complying, the implications of noncompliance are severe.” Ever wondered whether your business complies with the latest governmental regulations, or if you're at risk of severe penalties? Our host, Attorney Ted Gudorf, unravels the complexities of the Corporate Transparency Act. This influential legislation could impact anyone owning, controlling, or forming U.S. corporations and LLCs by mandating th...
Nov 12, 2024•17 min•Transcript available on Metacast "Medicaid planning isn't about beating the system, but ensuring that you or your loved ones can receive necessary care without unnecessarily depleting all your assets.” Unlock the secrets to safeguarding your financial future as our host Attorney Ted Gudorf guides us through the intricate world of Medicaid planning. Discover the crucial elements of the five-year look-back rule, a pivotal factor in qualifying for Medicaid long-term care services without depleting your hard-earned assets...
Oct 29, 2024•18 min•Transcript available on Metacast "The SECURE Act 2.0 has changed things a lot. We will explore every detail of the new rules, and trust me when I say pouring over 260 pages of new legislation wasn't exactly a walk in the park, but I've done the heavy lifting for you, so you don't have to." What if understanding the SECURE Act 2.0 could absolutely transform your retirement planning strategies? Our host, Danny Gudorf unpacks the complexities of inherited IRAs. He dissects the fine line between eligible an...
Oct 22, 2024•24 min•Transcript available on Metacast “It's far easier to address these issues proactively than to scramble for solutions in the midst of a crisis. By planning ahead, you’re not just protecting your assets. You're giving yourself and your loved ones peace of mind.” Our host, Ted Gudorf dissects the real-world struggles of dealing with power of attorney (POA) and financial institutions. With heart-wrenching anecdotes like being turned away at the bank during a crisis, Ted unravels why some POAs fail and what you can do to p...
Sep 24, 2024•7 min•Transcript available on Metacast “The beauty of a trust is its flexibility. You can customize it to fit your unique family situation and financial goals. However, this flexibility also means there are a lot of decisions to make.” Imagine being in your mid-60s, like John and Sarah, and facing the challenge of how to ensure both your surviving spouse and children from previous marriages are taken care of. Our host Ted Gudorf tackles the often-overlooked estate planning nuances for blended families. He shares John and Sarah’s stor...
Sep 17, 2024•22 min•Transcript available on Metacast Did you know that Ohio residents have the opportunity to leverage some of Florida's unique tax advantages? Listen in as tax attorney Craig Hersch from the Sheppard Law Firm does a deep dive into the Florida Community Property Trust statute. Along with our host Ted Gudorf, he and Craig share how owning trusts in Ohio (and other common law states) can help you achieve a full step-up in basis for capital gains tax purposes upon a spouse's death, potentially eliminating those capital gains...
Sep 03, 2024•34 min•Transcript available on Metacast “Remember to overestimate your expenses and build in a margin for unexpected costs and consider the impact of taxes in retirement.” Without the right strategy, planning for retirement can be overwhelming. In this episode, you'll take the first step towards creating a personalized retirement plan simply by taking stock of five essential numbers. “Fixed expenses” means different things to different people. Learn how to zero in on what exactly those expenses are for you. You’ll also find out h...
Aug 27, 2024•19 min•Transcript available on Metacast Ever wondered how to strategically manage the tax implications of Roth conversions without falling into the trap of unexpected penalties? Join me, Danny Gudorf, as I uncover the essential tactics for optimizing Roth IRA growth and tax benefits in our latest episode. You'll learn how to transition funds from traditional IRAs or 401ks into Roth IRAs effectively, enjoying tax-free growth and withdrawals in retirement. We explore the two critical methods for handling taxes on these conversions—...
Aug 24, 2024•16 min•Transcript available on Metacast "Whether you're 45 and have 40 years of retirement to live through, or you're 65 and have roughly 20 years of a retirement time horizon, deciding on how you can take money out of your portfolio is going to really impact how much it can generate in monthly or annual income." What if you could boost your retirement cash flow without taking on another job or putting more aside for savings? Listen in as our host Danny Gudorf shares seven powerful steps to significantly increase y...
Aug 14, 2024•16 min•Transcript available on Metacast In this conversation, Ted Gudorf discusses the critical role of a registered agent in business operations, emphasizing the importance of choosing whether to serve as your own registered agent or hire a professional service. He outlines the responsibilities, risks, and potential legal implications of being your own registered agent, including privacy concerns and the management of legal documents. The conversation highlights the benefits of using a professional registered agent service, such as e...
Jul 30, 2024•11 min•Transcript available on Metacast "A different strategy is going to be one that can be flexible and solve these issues better than the 4% rule.” Can you really rely on the 4% rule for a comfortable retirement? In this episode, our host Danny Gudorf tackles this controversial topic head-on, revealing why this popular rule might lead you astray. Danny dissects the four major pitfalls of the 4% rule while offering a superior strategy to help you retire sooner and generate more income. By examining hypothetical portfolios and d...
Jul 16, 2024•16 min•Transcript available on Metacast "It's crucial to understand how different income sources can impact the taxation of your Social Security benefits." Unlock the secrets to reducing your tax burden on Social Security benefits! Nearly half of all recipients now find themselves taxed on these crucial benefits, and the number is only climbing. On today's episode of The Limitless Retirement Podcast, our host Danny Gudorf explains why this is happening and provides actionable strategies to help you manage it. Learn...
Jul 02, 2024•21 min•Transcript available on Metacast “I always come back to one simple litmus test, do you want to pay the taxes on your IRA now, or do you want the beneficiaries to pay the taxes later?" In this episode of The Limitless Retirement Podcast, Danny Gudorf of Gudorf Financial Group uncovers the myriad of benefits of Roth conversions for those in their 70s, including the potential for a tax-free inheritance and the flexibility gained by avoiding required minimum distributions (RMDs). Tune in to understand why having a mix of tradi...
Jun 25, 2024•18 min•Transcript available on Metacast "RMDs can be a complex and intricate situation in retirement. But knowing these common mistakes can help you navigate this important part of your retirement plan." Our host, Danny Gudorf, unravels the complexities of RMDs and spotlights the top 10 mistakes that could derail your retirement strategy. With new laws changing the starting age from 70.5 to 73, and eventually to 75, it's more crucial than ever to be informed. Discover why you can’t combine RMDs with your spouse's a...
Jun 12, 2024•20 min•Transcript available on Metacast 
