What is the name of your state? California
Question on asset transfers. I file jointly with my wife. I hold a brokerage account jointly my SS, and my wife has one as well with the same company but under her SS. The brokerage simply can't change title but rather they request I setup a Trust account. The trust account only has one SS associated with it. So my question is if I fill out the paperwork and say use my SS as we don't have a SS specifically for the trust, when I transfer her account into the trust now that my SS is being used, does this trigger any type of tax consequences? Should I instead change her account to a joint and then have it transferred? Thanks so much for any help\guidance.
Question on asset transfers. I file jointly with my wife. I hold a brokerage account jointly my SS, and my wife has one as well with the same company but under her SS. The brokerage simply can't change title but rather they request I setup a Trust account. The trust account only has one SS associated with it. So my question is if I fill out the paperwork and say use my SS as we don't have a SS specifically for the trust, when I transfer her account into the trust now that my SS is being used, does this trigger any type of tax consequences? Should I instead change her account to a joint and then have it transferred? Thanks so much for any help\guidance.