If my wife and I are divorced and he has a small business in her name, can I retire from my job and roll my 401K into a self direct IRA and invest into her business?
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If my wife and I are divorced and he has a small business in her name, can I retire from my job and roll my 401K into a self direct IRA and invest into her business?
We are not related anymore and appears to be a good investment.
Asked on August 23, 2012 under Business Law, New York
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
So long as you are not married and are divorced from your former spouse there is nothing preventing you from rolling your 401 k into a self directed IRA and invest the funds into the former spouse's business. I suggest that you first do your "due diligence" into this business before you invest in it.
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