Musing About Concepts: Is a Smart Contract Within a Contract, Smart?

Too Long; Didn't Read

Say someone has an IRA (Individual Retirement Account) set up as a smart contract. Where he/she or their employer or both deposit a certain amount of money into it every month, the contract is set to pay out on their 65th birthday, or on proof of death. But due to unforeseen circumstances, they need money now and would like to break/sell the smart contract. If we make a new contract that changes the ownership, then the old owner would have to hand over the seed phrase to their wallet to the new owner, but the old one would still be able to access it.