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In this tutorial, Paul, the manager of the estates administration department at the law offices of Daniel Hunt, offers guidance on asset liquidation for trustees following a decedent's death. Asset liquidation involves converting the decedent's real and personal property into cash, which is crucial for distributing funds to beneficiaries and completing estate administration. There are three main types of property that require liquidation: real property (real estate owned by the decedent), tangible personal property (items like automobiles, furniture, heirlooms, clothing, jewelry, and collectibles), and intangible personal property (such as stock certificates, bonds, and CDs). Paul will further elaborate on the liquidation process.