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In this video, Paul, the manager of the Estates Administration Department at the law offices of Daniel Hunt, provides guidance for trustees dealing with asset distribution following a decedent's death. He highlights the process of liquidating assets, which involves converting hard assets into cash—a crucial step in trust and estate administration that facilitates fund distribution to beneficiaries. Paul categorizes the types of property that need to be liquidated: real property (real estate owned by the decedent), tangible personal property (such as vehicles, furniture, jewelry, and collectibles), and intangible personal property (including stock certificates, bonds, and CDs). He aims to assist trustees in navigating the liquidation process effectively.
