[MrDK]

At the age of 59.5 you can start withdrawing from tax deferred retirement accounts. At that time they will be rolled into IRA's. I know that an IRA can exist in a trust and that a trust can exist in an LLC. I am assuming then that an IRA can exist in an LLC.

An LLC has no tax liability and technically can only exist for a limited time, however, the time restriction is easy to overcome. Since an LLC has at least one owner funds will eventually be distributed and the owner pays income tax. Since loses in an LLC cannot be deducted in anyone's tax fillings the normal requirements for showing a profit after a few years does not exist. So an LLC can exist without showing a profit. The LLC can pay the owner and the owner is liable for taxes. To the extend the owner is exempt from paying taxes IRS will not collect.

LLC's are established for either of two reasons in the US. 1. To keep profits generated by the company in the company (re-invest). 2. (most importantly) to avoid personal or corporate liability (LLC = Limited Liability Company).

The company I worked for before was an LLC owned by a larger corporation. In the event a lawsuit should be filed against the company the corporation would be excluded from liability and so would any of the officers. Only the value of the LLC can be lost.
In another scenario, I have a friend that has a $2M boat owned by an LLC. The LLC in in debt in the amount of $1.9M. Should there ever be an accident the max financial loss is limited to $100k.