Qualified Plan Concepts Help

Convert to Roth IRA at death

This objective allows clients to convert their current plan to an IRA upon death. Fill out the “Retirement Plan” tab to get started.

Upon entering your client’s retirement plan, enter other non-qualified assets they have based on the amount, growth rate (less than 12%) and income tax rates.

Once that is complete, move on to the “Desired Distributions” tab and fill out the information needed to have life insurance pay taxes upon conversion. When selecting an entry method, if you choose the “Load illustration from Link File” option you may import a pre-existing plan from your desktop. If not, you will need to enter the death benefit, premium, and frequency of the life insurance payout.

After all of this, navigate to the “Conversion Information” tab and select when to convert to Roth IRA upon death. You may choose from a calendar year, next month, or based on age.