Convert trad. IRA to one or multiple ROTH or none

a 59 year old woman currently has a traditional IRA and is interested in converting to one ROTH or a few ROTHS.  Due to her age, would this be advisable?  If so, would multiple ROTHS be necessary?

That is a question that cannot be answered here. The answer is "it depends" and it depends on her personal situation and assets and other items.  That is a question for a competent financial planner who will gather all the relevant information and then (hopefully) offer a reasoned opinion on what might make sense given all her data.

I agree.  However, are you aware of a situation where it is beneficial to open multiple ROTHs from one traditional?  Thanks

Yes.

On 7/12/2018 at 5:27 PM, Larry Starr said:

Yes.

That was helpful. Care to elaborate.

Roth conversion recharacterizations were eliminated in the TCJA for conversions  after 12/31/2017. Separate accounts had made Roth conversion recharacterizations cleaner, but even then unnecessary.

Of the top of my head I can't think of any reason why separate Roth accounts for the Roth conversion would be necessary.

Even If you wanted to do a 72t SEPP, on a portion of the Roth assets. That could be accomplished with a rollover to a new account at the time.

I see no benefit to separate Roth accounts to track separate 5-year conversion clocks. I doubt there is any custodian who can't calculate these out of a single Roth account. So even if there are multi-year Roth conversions to avoid higher marginal tax rates, AGI and MAGI impacts on ACA premium subsidies or IRMAA.

You must be that guy who when somebody asks you if you know the time, your helpful response is "Yes".

4 hours ago, spiritrider said:

That was helpful. Care to elaborate.

Roth conversion recharacterizations were eliminated in the TCJA for conversions  after 12/31/2017. Separate accounts had made Roth conversion recharacterizations cleaner, but even then unnecessary.

Of the top of my head I can't think of any reason why separate Roth accounts for the Roth conversion would be necessary.

Even If you wanted to do a 72t SEPP, on a portion of the Roth assets. That could be accomplished with a rollover to a new account at the time.

I see no benefit to separate Roth accounts to track separate 5-year conversion clocks. I doubt there is any custodian who can't calculate these out of a single Roth account. So even if there are multi-year Roth conversions to avoid higher marginal tax rates, AGI and MAGI impacts on ACA premium subsidies or IRMAA.

You must be that guy who when somebody asks you if you know the time, your helpful response is "Yes".

My answer was as stated BECAUSE of the question that was asked.  Now, YOU are asking DIFFERENT QUESTIONS that were not in the original asked by Kwalified.  Nowhere in the original was there a issue of being NECESSARY.  Nowhere did I say it was to track separate 5 year conversion clocks.  

Kwalified asked: However, are you aware of a situation where it is beneficial to open multiple ROTHs from one traditional?

How about you simply want to have two different beneficiaries; maybe you want to invest them with different custodians.  I'm sure I can come up with others if I was so inclined.

When someone asks me what time it is, I don't usually explain how the watch works! :-)