With a Self-Directed IRA, individuals are able to take control of their inheritance and use it as they please, in a wide range of asset classes including real estate, private company investments, and even precious metals.
Asheville, NC (PRWEB) October 09, 2016
Many investors struggle with the challenge of moving around an inheritance. In a recent blog post at http://www.AmericanIRA.com, American IRA (a Self-Directed IRA administration firm in Asheville, NC) CEO Jim Hitt explained how an inheritance could be turned into a Self-Directed IRA to help an individual plan for retirement.
According to Jim Hitt, these situations are often stressful thanks to the loss of a loved one, and making sense of all of the paperwork that’s left behind can be daunting. “The answer for these individuals,” writes Jim Hitt, “is usually to take these inherited assets, create a Self-Directed IRA, and use them to invest in the assets you know and understand.”
Oftentimes navigating the complicated world of probate means that individuals unfamiliar with the law can find themselves overwhelmed. In these cases, their usual approach is simply to listen to advisors and make all of the decisions recommended to them. But with a Self-Directed IRA, individuals are able to take control of their inheritance and use it as they please, in a wide range of asset classes including real estate, private company investments, and even precious metals.
But before switching over to a Self-Directed IRA, Jim Hitt warns, one must do their due diligence and take things cautiously. “Don’t be hasty,” Jim Hitt writes. Making sure that one complies with all of the relevant IRS rules is important, as is taking the time to do the process the right way.
Although Jim Hitt runs a Self-Directed IRA administration firm, it is not that firm’s role to give out specific financial and investment advice. But Jim Hitt recommends that investors learn all they can about Self-Directed IRAs, including when it comes to inheriting money. In this case, knowledge is power.
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