hotmeat, due to WMILT set up as a pass-through entity, what you speak of I believe is a technicality BUT as long as WMLT is liquidating (and they would be), this is deemed acceptable and perfectly legal.
The trust would actually never take possession of cash/stock as it would go directly into the account holder's accounts. This is not considered carrying on an ongoing business or anything other than direct liquidating.
I will not argue over a simple technicality such as stock being liquidated to an already preapproved pass-through entity such as WMILT was set up to be. Further, if WMILT had to comply with this technicality, they could easily sell the stock and transfer cash. Of course, Big Money Players would not want it this way due to tax implications cash would create when they can control their selling of the stock at will.
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