I live in Henderson Nv and have an IRA I inherited from my deceased mother, and would like to form a checkbook control self directed IRA/LLC for the purposes of purchasing an absentee owned business and have chosen Preferred Trust Company in Nevada for my custodial account. Their website at https://preferredtrustcompany.com/create-account-traditional-ira/ has an online application that requires you to give an ownership title to the SDIRA and labels it Vesting, and was I'm wondering what would be the proper title to give my SDIRA. I'm guessing since I'm purchasing a business a good title would be Inherited Preferred Trust Company: LLC FBO (my name). Is it necessary that the word Inherited be in the title? I'm asking you because after skimming through Mat Sorensen's book on SDIRA's he says it's very important that the IRA's investments be in the name of the IRA and not in the name of the owner, so the title of the IRA is very important. Also since I inherited it from my mother is it important that her name in the title or not? I've decided to use Matt Sorensen's company KKOS to set up the LLC and I'm wondering if that's a proper title for this type of IRA/LLC account. I'm guessing I should call KKOS but I wanted to get someone's opinion here first before I do that.
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