Asset Protection and Estate Planning for Ohio Physicians

Physicians and many other professionals have planning and asset protection needs that are different from, and greater than, those of the general population. Physicians typically earn more money and pay higher taxes than most people. In addition, they have exposure to professional liability actions. Taken together, these things call for specialized estate planning and asset protection with attorneys who are knowledgeable about the financial concerns of physicians.

The Gudorf Law Group, LLC has extensive experience in working with physicians and other professionals to minimize taxes and protect assets. Attorney Ted Gudorf has published materials on the subject of asset protection for physicians, based on his extensive experience in this area.

Taking the Necessary Steps to Protect Your Future

Physicians, dentists, attorneys, accountants, veterinarians and other professionals devote their lives to helping others, but may neglect to take the necessary steps to protect themselves and their families by safeguarding hard-earned assets.

The Gudorf Law Group, LLC has developed a multi-step plan designed especially for professionals to protect business and personal assets, minimize income and estate taxes, develop practice exit strategies, and create retirement benefits. The process includes:

  • Assembly of a multi-disciplinary team, including a business and estate-planning attorney, CPA, and investment advisor to review needs and evaluate options
  • Maximizing the use of IRAs, 401(k)s, life insurance policies and other vehicles to protect assets under state law
  • Conducting a thorough review of professional, life, homeowners and auto insurance policies to ensure that coverage is adequate
  • Reviewing the structure of the professional practice and creating limited liability companies for the protection of the practice and other assets
  • Creating Domestic Asset Protection Trusts and other trusts as needed for management and protection of assets

This multi-step, multi-disciplinary approach offers professionals the benefit of expertise from many backgrounds. For maximum efficiency, team members meet together with the client, allowing for honest input from a variety of perspectives, and ensuring that all team members, including the client, are on the same page. Over time, our firm has found that this method yields the results our professional clients desire.

As a professional, you’ve worked hard to achieve your personal and professional goals. The Gudorf Law Group, LLC, looks forward to helping you protect all that you’ve worked for.

For more information about this practice area, or to schedule a complimentary consultation with one of our estate and business planning attorneys, we invite you to contact us now.

Please take advantage of the many free resources we have for you such as audio downloads on Ohio estate planning issues, a free dinner seminar, and much more on our Free Resources page.

You can also learn about more ways we can help you on our Practice Area Page.

 

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Testimonials

Ted is an expert in estate planning and business planning. I first met Ted through the Ohio Forum of Estate Planners. In addition, I have known Ted for many years through our affiliation in WealthCounsel, LLC. I know that Ted is a talented leader in… Read More
– Lynn Richardson, WealthCounsel, LLC

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