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In this tutorial, Paul, the grow manager of the Estates Administration Department at the Law Offices of Daniel Hunt, provides guidance for trustees on liquidating assets after a decedent's death. He explains that liquidating assets involves converting hard assets like real property and personal belongings into cash, which is a crucial step in trust or estate administration. There are three main types of property that need to be liquidated: real property (real estate owned by the decedent), tangible personal property (items such as vehicles, furniture, heirlooms, clothing, jewelry, and collectibles), and intangible personal property (such as stocks, bonds, and CDs). Paul aims to help trustees navigate this process effectively.
