Articles
Court Rules in Favor of Self-Directed IRA Real Estate Investor in Prohibited Transaction Case
A recent Bankruptcy Court decision dealt with prohibited transaction claims against a self directed IRA owner who was using their IRA to flip real estate for profit. The claims were brought by a bankruptcy trustee who argued that the protected IRA was no longer an IRA...
Using the Law to Protect Your Reputation Online
Have you given a negative review of company? Have you ever posted something unflattering about someone you didn't like? Do you own a business with a Facebook, Yelp, Google+, or Linkedin page? Well, there's no shortages of lawsuits about posts people make about...
Pet Law Basics
While I'm no "pet lawyer," I do own a 9-year-old Chihuahua and, along with other pet owners, have often looked up the laws affecting pets. For example, what happens in divorce to the family dog or cat? What if I want to return my pet to the seller? What happens to my...
FEDERAL CIRCUIT COURT SAYS NO SALARY FROM IRA/LLC TO IRA OWNER
In Ellis v. Commissioner, a Federal Appeals Court recently held that an IRA owner engaged in a prohibited transaction when he paid himself compensation from his IRA/LLC. An IRA/LLC (aka, “checkbook control IRA”), is an LLC owned by an IRA and is used primarily by real...
Who Should I List as Trustee of My Trust?
If you are establishing an estate plan, it is likely that you will have a Revocable Living Trust (“Trust”) as the primary document that outlines who will receive your assets upon your death and what conditions, if any, will be placed on those assets. As many persons...
MYTHS AND FACTS ABOUT USING IRA TRUSTS
I've had a number of inquiries lately about when to use a separate IRA Trust as the beneficiary of your IRA. IRAs, like bank and savings accounts, are passed on to the heirs of the deceased IRA owner according to the beneficiary designation form that is on file with...
YOU’VE BEEN NAMED AS EXECUTOR OR TRUSTEE TO A DECEASED PERSON’S ESTATE: NOW WHAT?
If you’ve been named as an executor in a will or as a trustee in a trust, you have some important responsibilities and obligations that arise upon the death of a loved one. Here’s a quick list of items to consider as you begin managing a deceased persons estate. 1....
What is a Joint Venture Agreement and When Should You Use It?
A Joint Venture Agreement (aka, "JV Agreement") is a document many business owners and investors should become familiar with. In short, a JV Agreement is a contract between two or more parties where the parties outline the venture, who is providing what (money,...
3 CRUCIAL IRA DEADLINES ON APRIL 15th
April 15th is only one-day away and as a result I wanted to remind everyone of three crucial deadlines that apply to your IRA on April 15th. In addition to the April 15th deadline, I also wanted to note which deadlines can be extended. 1. Contributions - Roth IRA and...
WASHINGTON CONFERENCE UPDATE ON SELF DIRECTED IRAs FROM THE IRS/DOL
I'm presently attending and speaking at the Retirement Industry Trust Association's (RITA) conference in Washington, D.C. RITA is the national association that represents the self directed IRA industry and has most major companies in the industry as members. I have...
