» Farm Planning

Succession Planning for Family Farms

For farming families, the farm is a major asset and a source of income; a legacy from previous generations, and an inheritance for future ones. But many families fail to put in place adequate farm succession planning and asset protection, which can j… Read More

Can Family Farms Qualify for SBA COVID Disaster Loans?

As of this writing, we are closing in on nearly 5 million confirmed COVID-19 cases in the United States. The virus has taken a toll not only on the health of its victims, but on the health of the economy, especially small businesses. Many of those sm… Read More

Family Farms Need Asset Protection

Family-owned farms are more than just a business. They are a source of pride and connection as well as income. Unfortunately, in recent years it has been harder and harder for family farms to keep afloat. Many family farmers are so busy with the day-… Read More

What Is a Succession Plan?

In life and in business, you must plan ahead for the unexpected. A succession plan outlines a clear path for what should happen to your company when you retire or step aside due to illness or a disability. Succession planning involves multiple compon… Read More

5 Life Insurance Setbacks and Mistakes That Ohio Farmers Should Know About

As an Ohio farmer who has weathered everything from employee challenges to crazy weather to wildly shifting market conditions, you understand the importance of hedging your bets and creating backup plans. In fact, one reason why you’re interested i… Read More

Disaster in the Field: How to Revise Your Ohio Estate Plans If Devastation Hits Your Farm

Owning a farm carries fundamental risks. As any business owner will tell you, the name of the game is not necessarily eliminating risks altogether but rather developing contingencies to handle them as well as plans that are flexible enough to withsta… Read More

3 Powerful Strategies to Help Your Ohio Farm Hedge Against Setbacks

A bad harvest, a disgruntled employee, a takeover bid from a larger agro business, a sudden illness, or dozens of other crises might be waiting to afflict your farm and throw your business into chaos. What can you do to prepare? Here are three time-t… Read More

Unexpected Setbacks That Can Undermine Your Ohio Farm Estate Planning

Ohio farmers understand that they must plan for a variety of contingencies to protect crops, keep animals healthy and clean, and maintain business operations, day-to-day. Setbacks are just part of the game. A crop may fail for unexpected reasons, suc… Read More

More Thoughts to Ponder When Forming a Distribution Plan for Your Ohio Farm

Estate Planning Attorney Ted Gudorf explains the fundamentals of forming a distribution plan for an Ohio farm at a filled-to-capacity farm planning seminar. First off, compile a list of debts and assets, personal and business, that could be relevant… Read More

Tactics to Maximize How Much of Your Ohio Farm Will Go to Those You Love and Trust

To create a great distribution plan for your Ohio farm, you need to maximize what you’ve got to distribute. If you plan poorly, harsh taxes and aggressive creditors can drain the estate, leaving you with little to pass on to your heirs. To that end… Read More

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Testimonials

I have known Ted Gudorf for 20 years and I highly recommend him. He is a passionate advocate for his clients and their needs; and is deeply dedicated to his service to his clients and the community. I have worked with Ted on a variety of community in… Read More
– Vicki Giambrone, Vice President, Marketing and External Relations, Dayton Children's, Was with another company when working with Ted at Gudorf Law Group, LLC

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