Client has revocable trust with the bank on as the trustee. He wants the bank off as trustee, but they won’t budge.

He has the right to revoke the trust, but we have some questions:

If he revokes the trust & opens an individual account:

a. Can he tell them to move the stock positons from the trust over to his individual account in a like to like manner and not suffer any tax consequence?

b. can a bank just change the name from the trust to an individual and not have any problems with a taxable loss or gain with the stocks? Meaning they go like to like with in the account.

Sincerely,

Douglas