Call to Incorporate 877- 281-8512 Hablamos Espanol

TEXAS IRA SERIES LLC

In the situation where the investor wants to invest in property using their Self Directed IRA monies but at the same time wants separation of liability between the properties a series IRA LLC is the best answer.

You may have an IRA Series LLC to take advantage of the Texas Laws that separate the liability of assets that you may invest in legally under the Internal Revenue Code with your IRA.

The set up procedures for the IRA SERIES LLC to function properly are as follows:

Our Firm organizes a special-purpose IRA SERIES LLC with the state of Texas and at the same time makes it compliant with the IRA regulations. Next, there needs to be a transfer from the preexisting IRA custodian of your funds to a Self-Directed IRA Custodian: this occurs by the current IRA Custodian sending you a check that constitutes your funds in the name of your new IRA Custodian. Additionally, you will in turn immediately mail the funds to the Self-Directed IRA custodian. Ultimately the Self- Directed IRA Custodian will set up the specialized check book controlled bank account for your use. The end result is an investment company that is owned by your IRA and managed by you. You will then use this checkbook control to disburse investment operating costs and receive returns on the respective investments made via the account.

Moreover, regarding the primary benefit of the series aspect of this type of investment LLC, the assets that are held by this special purpose LLC may be held in separate series that make up the body of the LLC, if there is a lawsuit against one the series, the said lawsuit may not be brought against the other series that make up this type of LLC. *Note* it is imperative the accounting books be kept separate within each series and that there be NO financial activities between separate series, for instance, no loans, grants, or gifts between series.

Once the IRA Series LLC is organized properly with the state of Texas, a master operating agreement will be created, followed by the sub series operating agreements that are ordered for each respective series.

Again, in the situation where the investor wants to invest in property using their Self Directed IRA monies but at the same time wants separation of liability between the properties a series IRA LLC is the best answer. We will draft the proper complex agreement that will pass with both your IRA custodian and the court in case of a legal contest. The bottom line, you will be confident knowing your hard earned money will be best protected from the IRS as well as lawsuits.

Click here to form your Texas IRA Series LLC

© Copyright 2009-2012 By The Law Offices of Nick Spradlin, PLLC
All Rights Reserved