Peter J. Reily, Florida Man Blows IRA Bankruptcy Protection

The recent Eleventh Circuit decision on Yerian v. Webber confirmed a judgement that Keith Yerian’s self-directed IRA could go to his creditors. According to Peter J. Reily, the judgement is a “big deal” considering the Individual Retirement Account’s role both as a tax vehicle allowing an immediate detection and tax-deferred growth or tax-free growth and as an asset protection vehicle – bankruptcy remote. Reily writes, “The practical takeaway I get from the decision is that if you have reason to be concerned about asset protection, you might want to think about whether a self-directed IRA is your best choice since apparently, it is not just the IRS you have to worry about looking over your shoulder.”

Download the full article by clicking Peter J. Reily, Florida Man Blows IRA Bankruptcy Protection.

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