Legal Question in Wills and Trusts in California

If you are the sole beneficiary, you have fewer hoops to jump through as trustee, but you still want to do things right, so I recommend that you consult an attorney for some better advice. For instance, if the trust is the beneficiary of the IRA, you will most likely lose the right to roll over into an inherited IRA if the financial institution issues a check to the trust. As sole beneficiary you may be able to prevent this if you give the right instructions. As for a tax ID #, you probably need one as most financial institutions require you to open a new (irrevocable) trust account first and then transfer to your own new account. But the trust won't have to pay income taxes if you move quickly enough that the income to the trust is under a certain amount. You should consult an accountant.