Accredited trust status after death of primary
Please provide your thoughts on this hypothetical situation:
An ongoing revocable trust is created by an accredited investor. It is funded with, among other things, investments which are only available to accredited investors. The trust is accredited because all the owners of the trust are accredited. The question is, what will be the disposition of the trust assets after the death of all the primary trustors. None of the successor trustees or beneficiaries are accredited. Must the trust immediately divest itself of the privileged assets? What if they are not liquid?
Thanks, I'm interested in hearing your thoughts.