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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 on liquidating assets after a person's death. He defines liquidating assets as converting hard assets like real estate and personal belongings into cash, which is essential for trust and estate administration. Three main types of property to liquidate include: 1) Real property (real estate owned by the decedent), 2) Tangible personal property (e.g., automobiles, furniture, heirlooms, clothing, jewelry, and collectibles), and 3) Intangible personal property (e.g., stock certificates, bonds, and CDs). The video aims to help trustees navigate this process effectively.
