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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 death. He emphasizes that liquidating assets, which is the process of converting hard assets such as real property and personal belongings into cash, is crucial for trust or estate administration. This process helps prepare for distributing funds to beneficiaries and completing the administration. Paul identifies three main types of property that need to be liquidated: real property (e.g., real estate), tangible personal property (e.g., automobiles, furniture, heirlooms), and intangible personal property (e.g., stock certificates, bonds, CDs).
