Lawrence Posted August 9, 2018 Posted August 9, 2018 One participant plan owns real estate that is rented out. An organization filed a complaint against the property manager and the 401k as the owner of a house. Are attorney fees a settler function or can the plan pay the attorney fees?
Larry Starr Posted August 9, 2018 Posted August 9, 2018 The plan owns the real estate; the plan is the OWNER. Who else should pay expenses attributed to the RE? Who would pay for a plumber to fix the pipes? It has to be the plan that pays the expense. Another reason (among the thousands!) for why RE does not belong in the plan. There are things that are legal, but stupid! We consider it out job to keep the clients from doing both! :-) Luke Bailey 1 Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFC President Qualified Plan Consultants, Inc. 46 Daggett Drive West Springfield, MA 01089 413-736-2066 larrystarr@qpc-inc.com
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