Liquidating trust form

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The Staff of the SEC’s Division of Corporation Finance has issued a number of no-action letters, including REMEC Liquidating Trust (Mar.23, 2011), granting relief from the registration and reporting requirements for liquidating trusts.Under the terms of the Liquidating Trust Agreement, each holder of Common Shares on August 5, 2016 (each, a "beneficiary") automatically became the holder of one unit of beneficial interest ("Unit") in the Liquidating Trust for each Common Share then held of record by such shareholder.Based on the average of the high and low trading prices of the Common Shares on August 1, 2016, the deemed distribution for tax purposes to holders of Common Shares at the close of business on August 5, 2016 is .21 per Common Share.

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If the trust document specifies that its assets are to be distributed upon your death, your trustee must methodically liquidate trust assets – she must terminate the trust by paying off all of its creditors and distributing any remaining assets to its beneficiaries.Liquidating trust is a trust designed to be liquidated as soon as possible.For example: a trust into which a decedent’s business is placed to safeguard the business until it can be sold off.The most important document is the trust document that created the trust – either a living trust document or the decedent’s will.You have to sign it and, depending on state law, you may have to have it notarized or witnessed.Retransmission, redistribution, or any other commercial use is prohibited.

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