Gorretta Law

Practice Areas

Gorretta Law specializes in the following practice areas:

  • ESTATE PLANS can consist of Wills and Trusts as well as a variety of "Will Substitutes" such as IRAs, pension plans, insurance and insurance products, transfer on death or payable on death designations, and Joint and Survivor Tenancy. The appropriate estate plan for you may consist of a number of different vehicles, determined by your needs and intentions. In addition, Financial Powers of Attorney are increasingly important, as are Advance Healthcare Directives, all of which can be considered your Estate Plan.
  • WILLS are the primary tool for passing your assets to your beneficiaries. Everyone should have a Will, regardless of the amount or kind of assets you own at your death or how those assets may be titled.  Any property in your name alone, without a beneficiary designation, will be subject to the terms of a Will and supervision by the Probate Court.
  • TRUSTS and TRUST ADMINISTRATION can serve many tax and nontax purposes. With the repeal of the Ohio Estate Tax in 2013 and the Federal Estate Tax Exemption amount of over $5 million, the need for estate tax planning is no longer the primary reason for creating trusts for most people. Trusts can be revocable or irrevocable, life insurance trusts, grantor retained income trusts, Special Needs Trusts, trusts for minors, or even trusts for pets. The Ohio Trust Code delineates the duties and responsibilities of trustees in the administration of trusts.
  • ADVANCE MEDICAL DIRECTIVES include Healthcare Powers of Attorney, Living Wills, HIPAA waivers, Mental Health Powers of Attorney and Organ Donor documentation. A Healthcare Power of Attorney appoints an agent to make healthcare decisions for you if you cannot make those decisions for yourself. Both the Healthcare Power and the Living Will provide the opportunity for you to specify in advance your “end-of-life“  preferences.   
  • FINANCIAL POWERS OF ATTORNEY grant your agent all the power you have over your assets including making investments, buying and selling real estate, filing tax returns, and much more. You must be careful when selecting your agent because you will be granting the individual considerable authority over your financial affairs.

  • CHARITABLE GIVING techniques can be used to create current income streams for you or your family as well as to fulfill your philanthropic goals. Some of the more common charitable giving vehicles are Charitable Remainder Trusts, Charitable Lead Trusts, Gift Annuities, Pooled Income Funds, Donor Advised Funds and Life Estates in real estate. In addition, provisions for charities can be included in your Will or trust. 

Want more info? Email Laura J. Gorretta at laura@GorrettaLaw.com.