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In this video, host Gary Winter addresses the next phase of the Trust 101 series, focusing on liquidating assets and paying bills for trustees and beneficiaries. He encourages viewers who haven't watched the previous phase one videos to do so, as they cover essential steps like becoming a trustee, notifying beneficiaries, and appraising assets. In phase two, the discussion centers on selling assets, or liquidating them. Key points to consider include whether the will or trust permits the sale of the asset and if selling is necessary to generate cash. This video lays the groundwork for effective asset liquidation in trust management.