Jim Hitt's New Post Explains How to Use a Self-Directed IRA to Maximize a Financial Legacy

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Financial legacy is an issue for many retirement investors these days. In a recent post at American IRA, CEO Jim Hitt explains how a Self-Directed IRA can be used to maximize this kind of legacy.

American IRA CEO

American IRA CEO, Jim Hitt

There is substantial protection from creditors when an asset is left within an IRA,” said Jim Hitt. In the event of a bankruptcy, those protections will matter even more..."

Many investors these days are trying to grow a nest egg to support themselves through retirement, but others are concerned about their “financial legacy.” That was the subject of a recent Jim Hitt blog post at AmericanIRA.com, where it was argued that a Self-Directed IRA can be a valuable tool for ensuring this legacy.

In this context, a “legacy” can refer to any type of financial asset that is left behind for a spouse, close friend, or other family members. Jim Hitt pointed out in the blog post that the Self-Directed IRA is an important way to leave vital financial assets behind.

“There is substantial protection from creditors when an asset is left within an IRA,” said Jim Hitt. In the event of a bankruptcy, those protections will matter even more, ensuring that a financial legacy stands a greater chance of being left behind intact. Jim Hitt pointed to a Supreme Court case in 2014, Clark v. Rameker, in which it was established that assets in an inherited IRA for a non-spouse beneficiary do not have the same creditor protection of a usual IRA. This is an obvious disadvantage, Jim Hitt pointed out, which is why Jim Hitt believes it is so important for investors to be vigilant about each respective estate.

Jim Hitt pointed out that there are a few states that do extend some creditor protection in IRAs for beneficiaries other than spouses: Alaska, Arizona, Florida, Missouri, North Carolina, Ohio, and Texas.

“Investors need to know about what kinds of protection they can enjoy—or not enjoy—when they use an IRA to protect their assets,” said Jim Hitt. “By understanding some of these more subtle legal issues, they can work within the law to create a stronger financial legacy. That legacy can then be left to family members and non-spouse beneficiaries.”

The entire article can be read online at http://www.americanira.com/home-links/self-directed-ira-corner-maximizing-financial-legacy/. Additionally, American IRA, a Self-Directed IRA Administration firm, can be contacted at 866-7500-IRA

About American IRA, LLC:

Click here to claim one of our 7 Self-Directed IRA guide(s).

American IRA is committed to providing every client with gold-level service, regardless of account size. Experience their expertise through their certified IRA services professionals. Enjoy the value with one low annual fee of $285 with unlimited assets and unlimited account values. American IRA clients love the benefit of no charge for "All Cash" accounts. The performance of the American IRA staff is unmatched, with quick and efficient processing within 48 hours.

American IRA services thousands of clients and has over $300 million in assets under administration.

American IRA was built by investors for investors, and brings their successful investment experience to the table, providing excellent educational material showing the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.

American IRA is conveniently located in Asheville, NC and Charlotte, NC, and serves clients nationwide.

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Sean McKay
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