Repair The Roof - Estate & Retirement Planning Podcast

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...

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...

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-...

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 address...

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 differenc...

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 jo...

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 attorne...

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 individu...

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 m...

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...

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 withi...

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...

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...

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 co...

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 nur...

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 fr...

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...

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...

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,...

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 questi...

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...

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...

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 ov...