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In this tutorial, Paul, the grow manager of the estates administration department at the law offices of Daniel Hunt, offers guidance for trustees on liquidating assets following a death. He explains that liquidating assets involves converting hard assets like real estate and personal belongings into cash, which is vital for trust or estate administration and for preparing to distribute funds to beneficiaries. There are three main types of property to liquidate: real property (real estate owned by the decedent), tangible personal property (items like vehicles, furniture, and jewelry), and intangible personal property (including stock certificates and bonds). Paul will continue with further steps in the process.
