Why You Should Shut Down Your Self Directed IRA in 2016
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- Опубликовано: 5 мар 2016
- Self Directed IRA's are coming under IRA attack beginning in 2016. If you have one you must watch this video and discover if your IRA is at risk of disqualification.
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Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
IN THIS VIDEO, MR. COONS STATES THAT EQUITY TRUST IS STILL UNDER A FEDERAL CEASE AND DESIST ORDER. CORRECTION: EQUITY TRUST FOUGHT THIS INJUNCTION UNDER THE THEORY IT WAS AN UNCONSTITUTIONAL EXERCISE OF POWER AND WON. THE CASE HAS BEEN DISMISSED IN JUNE OF 2017. VIEW DISMISSAL HERE: www.sec.gov/alj/aljdec/2016/i... 
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Learn about Real Estate & Asset Protection from Clint Coons, Esq. and Toby Mathis, Esq. at our next all-day free Livestream 9 am to 4 pm PT. on Saturdays. Our attorneys and specialists will answer ALL questions: 👉 Save Your Seat: aba.link/324
Thank you, Clint! I was always skeptical about Equity Trust and those other smaller followers too! Anyway, the curvy road process crap spooked me too! So, I steered clear early on! Thanks, and awesome video!
A link to the "next module" with discussion on the QRP would be quite useful and help direct more traffic to your videos.
What about a private lending?
In the correction regarding the case being dismissed...the date is wrong June 2017 is not here yet.😀
What a misleading crock! I have had one for many years. You chose your deal, send in the forms, only thing custodian does is if you are selling is to sign the deed and hud-1, and return them to the closing attorney. Buying, send in the forms,deed and hud, they sign deed and hud, send them along with a check, (or wire if you wish)to closing attny. No winding road. custodian has nothing to do with your purchase or sale other than sign and return deed and hud.
Charlie, how do you pay earnest money when you put a property under contract? Do you have LLC inside of your IRA? If you don't have LLC inside of your IRA how long does it take you to request EM from your custodian? I work with Equity Trust and they SUCK. Need to find another custodian that does it well.
Should move over to Preferred Trust Company...just saying, they have taken over 100's of accounts from Equity.
Clint, the major flaw in your video is that you stated that the manager of the LLC was the owner of the LLC. The correct way is to have somebody else that is not your farther, mother, daughter or son manage the LLC and specify this in the Operating Agreemnt of the LLC.
Then you can have your IRA own LLC and do transactions under that LLC. Very important: manager must have check book control and cut checks, execute purchase agreements and do everything else related to the business. Owner's signature should not be anywhere, otherwise it will not be considered as SDIRA. People who read this, please consult a CPA that knows how SDIRA works because very few accountants know this.
@@realestateliquidators8493 Point very well taken! Thanks! But, that's for another video, right?
good explanation.
Glad it was helpful!
Again, can be very confusing without a lawyer.
So it's just best to have a solo 401k to avoid all of these problems righ?
Yes.
Ok, nailed coffin for me on self directed IRA
Charles Hua
Thanks for watching.
Should I shut down my Solo 401K as sell?
It is only IRAs that have come under attack however with the change in the administration in 2017 the threat has lessened for IRAs
The IRS just wants your money.