Newman Asset Management, LLC

An over 70 year-old died and left three IRAs to her living trust. The spouse is dead and there are 11 beneficiaries ranging in age from 30 to 85. Can we A) Sell the assets and pay the tax at the trust level? B) Combine the three IRAs and pass the minimum distribution out over X years? C) have the bank create 11 IRA beneficiary accounts and let the beneficiaries decide?
Don’t worry about me. I know how to research the tax law and the bank won’t let me do something illegal. I was just looking for ideas.

An over 70 year-old died and left three IRAs to her living trust. The spouse is dead and there are 12 beneficiaries ranging in age from 30 to 85. Can we A) Sell the assets and pay the tax at the trust level? B) Combine the three IRAs and pass the minimum distribution out over X years? C) have the bank create 11 IRA beneficiary accounts and let the beneficiaries decide?
My research tells me I can do any one of the above under the trust, but Extra37′s insight on the age range makes me prefer C. The bank can take it from there.

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Here is a decent explanation, by the Nabers Group, of a type of self directed 401(k) offered in the market, which is very similar to the self directed 401(k) product offered by Newman Asset Management. This is a retirement account that is legally able to invest in gold, real estate, private companies, mortgages, llcs, and virtually anything else. This part explains investment options for the Self Directed IRA & Self Directed Solo 401k. For more details, click here to contact us.

I’m trying to get started in investing in tax-lien certificates using money in my self-directed IRA. I’d like to try participating in online auctions for county tax sales, but many of them require you to deposit some sort of “down payment” as good faith money. Does anyone know if/how I can get the money from my IRA for my deposit, so that my IRA completely holds the entire interest in these assets? Thanks in advance for your help.

IRAman: This can be done with a self directed IRA held at a custodian or an IRA-LLC. What I have seen work best is (1) using an IRA-LLC and (2) working with a professional in IRA use and  (3) working with someone  familiar with tax liens and auctions. This is not an area for beginners as you can make mistakes on the IRA side as well as the auction side that could cause you a great deal of headaches.

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