Assets with named beneficiaries include annuities, life insurance policies, IRAs, 401k plans, pension, profit-sharing plans, and employee benefits.
Assets with named beneficiaries are not subject to probate and therefore do not need to be owned by your revocable trust. As a result, the ownership of these assets is not assigned to the trust, but rather the trust can be named a contingent beneficiary on these assets.
You leave the primary beneficiaries alone and add the new revocable trust as the secondary or contingent beneficiary. Upon death, the asset will be given to the individual named as the primary beneficiary. Should the primary beneficiary predecease the owner, the asset will flow into the trust and be distributed according to the provisions of the trust.