Convert Tax Qualified Asset to Tax-Free Asset

If you are 55 years of age or older and have $500,000 or more in your IRA/401k or SEP, you will most likely have an income tax issue when you start to use said asset for an income stream. If you intend to pass it to your heirs, a tax issue arises with the new CARE Act as the distribution cannot exceed 10 years. If you can qualify for a life insurance policy, we can transfer your retirement asset, tax free to you, over a 5-year period to an insurance company that would provide you with a tax-free retirement income and/or tax-free transfer to heirs.