If you are named as a sole successor and you have sent out the 120 day trustee letter upon completion of the 120 days is it wise

More information is needed. If you are the sole beneficiary, then as the acting successor trustee you should distribute the assets to yourself as your sole and separate property, and then you can transfer the assets into your own revocable living trust. If you are not the sole beneficiary, which seems to be the case given that you sent what I'm assuming was a notification to beneficiaries under Probate Code 16061.7, then you need to distribute the assets to the proper beneficiaries pursuant to the Trust. An estate administration attorney can advise you as to your fiduciary obligations as trustee.

I'm not quite sure what you're trying to do here. The trustee generally distributes the trust property to the beneficiaries according to the terms of the trust. If they want to put their share into a new trust, they can do that.