Attorney has drafted a living trust for my clients (married, no children) and has requested we ” have their accounts changed into the Trust Name rather than their own name.” My suggestion was that Husband name wife as beneficiary if living, if not then the trust as contingent, and vice versa for wife.

I can see the trust as contingent but not the owner of the IRA’s as that transfer would seem to be a taxable event!

I’d be grateful for a response, and if there is taxable event what would be the IRS source of authority??

Thanks,
John O