Joanne M. Elsen CPA, PC
Christine Z. Freeland, CPA, PC
Custom Tax Service
New York, NY
Having dealt with a few inherited IRA issues, I still don't find them all that simple, but if you could answer 3 questions, I think we could get directly to the point:
How old was the grandfather when he died?
What was the date...
Excellent summary of the pluses and negatives of an LLC at https://www.rocketlawyer.com/article/why-start-an-llc-limited-liability-company-advantages-and-disadvantages.rl. What is most important to note that the liability shielding is relatively limited...
There are a few scenarios that you can look at:
If you inherit a Traditional, Rollover, SEP, or SIMPLE IRA from a friend or family member, you have several options, depending on whether the account holder was under or over age 70½.