However, if the LLC has only one owner, it can elect to be a disregarded entity for tax purposes.

If I would elect to leave my career at that point, I couldn’t necessarily live on the funds if they’re still sitting in the inherited IRA account, right?

(I've only just become aware of his clout/non-clout around the corridors of power).It came to my attention that he believes that January 1, 2018 is going to be the day that the next phase of their plan will be put into motion, and (from what I've read) he reckons there's nothing the President can do to stop Countries from diversifying away from the US dollar (into Distributed Ledger Technology).What say then the USA about their strategy of "quantitative easing", if that happens?

Also, an LLC can elect to be taxed like an S Corporation.While there is never only one answer that is correct for all circumstances, there is a general rule that is almost always the correct choice.

I'm still hoping this guy just elects to leave quietly, but assuming I need to go all the way, does anyone have a lawyer they can recommend?

My wife just recently formed a corporation in CA and elected S-Corp status with the IRS (via form 2553). 

@Dan Wallace   Did you miss the last Presidential election? 

You elect to deduct the entire cost of the machine in Year 1 under sec 179.

the other thing if its  a owner occ type loan there could be mortgage insurance.. and most banks sell their owner occ loans anyway.. now if your doing what @Levi T. talked about and going after commercial assets.. this was possible years back.my personal banker was in charge of their OREO and I got the list every week.. and bought a few subdivisioins from them they took back .. but this is small commercial bank where I knew the owners of the bank personally IE president and head credit officer.. and my banker is in charge of all the loan officers... and has banked me 24 years.. so yes its who you know.bigger multi billion dollar banks doing owner occ you can pretty much foregeta bout buying those in todays market.they want as stated to establish if they get a mortgage insurance claim and or they want to maximize profits.. there is simply not as much hangover inventory.. and or they will then sell off notes.. 

@Kendra Mattson look up cost segregated depreciation and de minimis safe harbor election and/or read my blog.