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In this tutorial, Paul, the grow manager of the estates administration department at the law offices of Daniel Hunt, discusses tips for trustees on liquidating assets after a decedent's death. He explains that liquidating assets involves converting tangible and intangible property into cash, which is crucial for administering a trust or estate and distributing funds to beneficiaries. The three main types of property to be liquidated include: 1) Real property (real estate owned by the decedent), 2) Tangible personal property (items such as automobiles, furniture, heirlooms, clothing, jewelry, and collectibles), and 3) Intangible personal property (such as stock certificates, bonds, and CDs). He will provide further guidance in the video.
