[WSBAPT] Self-Directed IRA

[Mike Winslow]

Typically the types of transactions that involve the IRA holder loaning money to themselves or a related entity are taboo, being classified as a Party In Interest Transaction.
There are businesses out there on the Interweb that will tell people they do these transactions, but the pension managers and clients with whom I deal regarding loans by Self-Directed IRAS warn against Party in Interest Transactions.
 
Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com
 
This message is from an attorney, so it’s confidential. If you are not the intended recipient, it’s too late to stop reading this message, but you may not use it for any improper purpose. Huge Disclaimer available upon request.
 
From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of John Creahan
Sent: Thursday, September 29, 2016 12:26 PM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Self-Directed IRA
 
Hi Paul,
Transactions with self-directed IRAs are very high risk, and I recommend against them in virtually all cases. If your client wants to pursue this, Warren Baker at Fairview Law Group is the leading expert.
Thanks,
John
 
 

 <http://www.fairviewlawgroup.com/> 
500 Yale Ave N., Ste. 384, Seattle, WA 98109
P: 206.753.0305  |  F: 206.400.1662 
warren at fairviewlawgroup.com
 
 
 
John Creahan
206-621-5848
 <http://www.cairn-law.com/> www.cairn-law.com
 
 
From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Paul Grant
Sent: Wednesday, September 28, 2016 4:05 PM
To: Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Self-Directed IRA
 
I have a client that desires to use their IRA to invest in a new business.  I know there are a lot of unwary traps.  If someone has recommendations to a custodian that does self-directed IRAs or someone that knows about the technical aspects I would appreciate it.
 
As always, thank you.


Paul H. Grant - JD, LL.M

Planning with Purpose, Inc
Lynnwood, WA 98036
425-939-9948
www.planningwithpurposeinc.com

Estate Planning. Business Planning. Wealth Succession.
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