--- title: Self-Directed IRAs description: It seems appropriate to give some air time to the subject of a recent presentation here at Trust Law Counsel, self-directed IRAs. The virtue of the self-directed IRA is in its namesake, it allows an IRA holder to direct what type of investments are held in the account. --- [![Goosman Lawfirm](https://blog.goosmannlaw.com/hs-fs/hubfs/Goosmannlaw%20October2017/images/Goosmann_Law_Firm_logo_4C-white.png?width=1250&name=Goosmann_Law_Firm_logo_4C-white.png "Goosman Lawfirm")](http://goosmannlaw.com/) - [COVID-19 Toolbox](https://goosmannlaw.com/covid-19-resource-toolbox/) - Our Team - [Attorneys](https://goosmannlaw.com/attorneys/) - [Non-Attorney Staff](https://http://goosmannlaw.com/non-attorney-staff/) - Practices & Industries - [Practices](https://goosmannlaw.com/practices/) - [Banking & Finance](https://goosmannlaw.com/banking-finance/) - [Bankruptcy, Restructuring & Workouts](https://goosmannlaw.com/bankruptcy-restructuring-workouts/) - [Business](https://goosmannlaw.com/business/) - [Divorce & Family Law](https://goosmannlaw.com/divorce-family-law/) - [Employment](https://goosmannlaw.com/employment-law/) - [Environmental, Health & Safety](https://goosmannlaw.com/health-safety/) - 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It seems appropriate to give some air time to the subject of a recent presentation here at [Goosmann Trust Law Counsel](http://www.trustlawcounsel.com/), self-directed IRAs. The virtue of the self-directed IRA is in its namesake, it allows an IRA holder to direct what type of investments are held in the account. What makes for an interesting story, though, is that while there are some limitations on what can be invested in, there are essentially an unlimited number of different types of investments you can make. The more common place investments would be things like residential real estate, commercial properties, and stock. And then there are some unusual things, some very unusual things. Real life examples would be dressage horses, cows, corporate training services, and start-ups. The IRS does have its say, and there are assets that cannot be held, such as life insurance, coins, certain metals, and, go figure, alcohol. It should also be noted the property needs to be held by a third-party custodian or trustee, to whom the account holder can give direction. Individuals should be aware of prohibited transactions being made by the IRA that could jeopardize it, which include a transaction between the account and the trustee/administer, the holder, the holder’s family, and plan service providers. Documentation needs to be accurate and the formalities of the IRA need to be respected. If this is done though, the IRA offers more control and the opportunity to participate in investments that grab your interest. 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