What is a Community Property Trust?

Ten states in the U.S. are classified as “community property” states, in which each partner in a marriage is considered to own half of the assets acquired during the marriage. Although community property jurisdictions constitute a small minority… Read More

How to Leave an IRA to Heirs

Retirement assets, including Individual Retirement Accounts (IRAs), often make up a large part of a deceased person’s estate. Retirement accounts are also, unfortunately, one of the biggest sources of estate-planning errors. The rules about distrib… Read More

Setting Up an LLC for Real Estate Investing

Investing in real estate can be both lucrative and risky. While nothing can eliminate all the risk inherent in real estate investment, choosing the appropriate structure for your real estate business can minimize unnecessary exposure to risk. In Ohio… Read More

A Guide to Divorce and Estate Planning

Like everyone, you have a vision for your future, and plans for how it will unfold. Unfortunately, the prospect of a divorce throws a wrench in those plans. You may need to change course regarding a number of objectives, including your estate plan. T… Read More

2022 Updates: FDIC Insurance for Trusts

If you have ever walked into a bank, you may have noticed signage that indicates that each depositor is insured to a certain amount by the Federal Deposit Insurance Corporation (FDIC). It’s likely that you’ve never given those signs—or the FDIC… Read More

3 Legal Documents College Students Should Have

If you’re the parent of a recent high school graduate or new college student, congratulations! This is an exciting time for both you and your child. You get to celebrate their achievements, and look forward to their bright future as they move into… Read More

Veterans’ Aid and Attendance Benefit Guide

Veterans who served our country during wartime deserve not only gratitude, but all the financial benefits to which their service entitles them. Unfortunately, many veterans are unaware of all of the benefits they qualify for. One of the most commonly… Read More

Case Study: Estate Planning Process at Gudorf Law Group

If you’re reading this, you probably already know that you need an estate plan, or need to update the one that you have. But you might not be sure where to start, or what the process involves. If so, you’re not alone: a recent study found that on… Read More

Payable on Death Account vs. Transfer on Death Account

Avoiding probate is an important estate planning goal for many people. Although probate isn’t usually as burdensome as people fear, if you can transfer an asset more easily and directly, why not do so? Assets in a will have to go through probate, a… Read More

What is a Qualified Income Trust?

A qualified income trust, also known as a “Miller trust” or “qualifying income trust” is a legal arrangement that allows adults to qualify for Medicaid funds to pay for care. If you have researched the costs of long-term care, you know that i… Read More