[00:07] People will tell you that your IRA is safe and their raw, your IRA is only safe from lawsuits against you and somebody's coming after your IRA. But your Iras invested in an asset class such as real estate where it can be sued. The IRA itself is exposed. Also your IRA is exposed in the sense that it can be disqualified if any of the transactions of the IRA are expert. So there's two things that we do. The first thing that we do is we can split up multiple IRA accounts. So that way if any one type of investment, uh, is disqualified or has some type of issue, um, that I, that the IRS would look at, well that limits your exposure because it's only that one account that we have to worry about. The second thing that you can do is set up a self directed IRA with an LLC. Read about the benefits of self directed IRA here.
[00:57] I like to do it with a series LLC, but that allows us to do is if you look at our videos regarding the series LLC structure, we can take each different asset belonging to the IRA and put it into its own series. So that way if there's an issue with acid a, it doesn't affect acid, B, c, d, et cetera. And this way, if you have one property that has a lawsuit against it, somebody that can't take your entire IRA amount, they could only take a very limited amount of that structure. So make sure that your IRA is properly structured with asset protection because it's not by default, the safest way to do it. My name is Scott Smith. I'm an asset protection attorney with real estate. I'm a real estate investor myself. I want to help.
[01:46] we're not like a normal law firm. We believe in putting out only high value content that's going to help you directly. You can get it on our youtube channel. You can get it on our website, or you can listen to all the different podcasts that I do. I am constantly putting out information because I know that this is going to make me the most valuable person in your life. Go check it all out right here.
Scott Royal Smith is an asset protection attorney and long-time real estate investor. He's on a mission to help fellow investors free their time, protect their assets, and create lasting wealth.
Ready to know more than your attorney? Join our community platform where you'll get immediate FREE access to all our best educational resources for real estate investors. Including 8 Masterclasses, group mentoring replays, and much, much more.
Join thousands of real estate investors in all 50 states as they enjoy exclusive content, special promotions, and behind-the-scenes access to me and my guests. No spam, ever. Just great stuff!