Events

A special presentation on IRAs owning LLCs and Trusts, the advantages, pitfalls and best practices.  This has been a highly requested topic for a while.  After a very successful meeting in 2008, the presenters have agreed to do this session one more time in 2010.  We are fortunate to have not one, but two highly respected authorities to speak on this topic.

One is H. Quincy Long, an attorney who also runs two Entrust offices in Texas.  Many of you may already be familiar Entrust as a true self-directed custodian for IRAs.  Quincy is well versed in the promises of promoters in using the limited liability company owned partially or completely by the IRA.  He will discuss the unsettled law in operating an entity that is owned by an IRA.

David G. Worley is a CPA in North Carolina.  David is also active in real estate investment.  David will be discussing tax reporting issues and the Family IRA-Owned LLC.  This LLC is owned by the IRAs of multiple family members.  David will cover the pro’s and con’s of this unique structure.  To assure that the IRS rules and regulations are met, anyone thinking of doing this should to be acutely aware of the management challenges involved.  This promises to be an excellent session!

This is a special session that anyone using entities owned by IRAs or thinking of using them, should attend.  Get the facts and opinions of professionals who have studied this area in detail, not some telemarketer.  They will lay out these facts, in-depth in layman terms, what they have done themselves and seen others doing, right and wrong, and provide the most realistic view of setting up and using the IRA-owned LLC or Trust.  They will give you their expert opinions on the "checkbook IRA" structure.

They have nothing to sell on this topic, so you will get an unbiased view from them. They will make themselves available to answer your questions during the two day conference—both in class and one-on-one. Clauses that should be in the LLC Operating Agreement, Trust Agreement and other documents will be discussed as well as common clauses that should never be in the documents. This information will prepare you to discuss these entities with your legal and tax counsel should you decide to form one of them.

The manual for this class will only be available to class attendees and not for sale afterwards.

Just a few of the topics that will be covered -

• Manager-Managed v. Member-Managed LLC
  
• The Manager as a fiduciary to the IRA account
• LLCs and Trusts owned by multiple IRAs
• The Family IRA-LLC
• LLCs with the IRA account holder as a Member personally along with their IRA
• Who can or should be Manager/Trustee? You? (lots of issues here)
• Management do’s and don’ts
• Self-Dealing situations that may surprise you
• Must-have Operating Agreement/Trust Agreement clauses
• Must-NOT-have Operating Agreement/Trust Agreement clauses
• Who should control the checkbook?  Why?
• Alternative approaches
• Can additional contributions be made later?
• Member meetings/proxies/powers of attorney
• Handling Required Minimum Distributions

• Accounting / end-of-year reporting issues

• Case Studies from IRS & Department of Labor Rulings
• When an LLC/Trust becomes a disqualified person
• UBIT issues
• Reasonable compensation questions
• Plan Asset & Funding regulations
• and much, much more...

As you all know, I have taught many years on entity structures, however never on the most controversial of issues . . . the IRA-owned LLC.

This entity is promoted as a perfect solution to common self-directed IRA issues, such as -

• Quick access to IRA funds
• Local ability to sign documents
• Protect IRA account from liabilities
• Keeping custodial fees low
• Invest in assets not allowed by your custodian
• Using multiple investor’s IRAs together
• Maintain a low profile of investment activity

Good points, but a significant level of knowledge must accompany the use of such entities.

Some questions that arise in using these entities are -

• Should LLC be Member-Managed or Manager-Managed?
• Who should (or can) be Manager?
• How can several IRAs form a single LLC?
• How are Member meetings handled?
• What about end-of-year reporting?
• Can additional contributions be made?
• Can you personally own part of the LLC?
• And many others . . .

And what about using an alternative structure such as a Trust?  Most of the same issues apply to Trusts as well.

Why are we so concerned about dealing with these entities correctly?

Because the IRS penalties can be up to 160+%
if your IRA participates in a prohibited transaction!

And there is no statute of limitation since an IRA generally doesn’t file a tax return!

Quincy, David and I have no bones to pick, no vested interest in whether or not you utilize an LLC or Trust with your IRA.  We only have an interest in providing you with the best information available on this topic!  We will tell you what we know and what we (as well as other experts) don’t know.  So, you will get both the pros and the cons of these entities in a balanced, practical approach to the topic.

I am excited to be offering this one time class with known experts on these creative structures.  Join me as we explore the possibilities in the use of the LLC and Trust owned by one or more IRAs.

The Family IRA LLC will be particularly interesting.

As I said, this is an advanced class and assumes you have taken the regular IRA class I do with Peter Fortunato.  If not, you need to have good basic knowledge of the IRS rules for the IRA.  One way to get this is by reading Real Estate Investment Using Self-Directed IRAs found here.

One of the problems with investing your pension funds is that you can’t self-deal.

This is where Financial Friends come into play.  That’s why we are also planning some time early Saturday evening for you to network with other attendees.

See what kinds of deals are being done in other parts of the country . . . and you may even find someone with whom you can work a deal.

Conference begins at 9:00 AM and ends at 5:00 PM each day.
Registration begins 8:30 AM on Saturday.
Pre-registration ends 08/16/2010, add $35 each after this date, $60 at door.

HOW TO REGISTER:            Register Now! $697 for one and $597 each for two or more... Order Online Order By Fax/Mail Order By Phone Click Here to Order Online* Click Here for Your Order Form (404) 492-6009 or (888) 889-4445

*Change the number in the Quantity box on the Checkout page to the number of Attendees you want to register for. Discounted rates apply to multiple registrations.

P.S.  ATTEND FREE!  Bring two people who have never been to a weekend event sponsored by Dyches and you attend FREE!  Simply sign up with them.  Or let us know by the contact page on our web site, fax or by mail who will be registering with us before they sign up.  Take advantage of this great deal while it is available!

P.P.S.  As with all of my seminars and books, I personally GUARANTEE this event. If at any time during the seminar, you do not feel you have received information worth many times the price of the program, just turn in your materials for a no hassle refund!