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In this video, Paul, the manager of the Estates Administration Department at the Law Offices of Daniel Hunt, offers guidance for trustees on asset liquidation following a death. He addresses the common feeling of being overwhelmed by the process. Liquidating assets involves converting the decedent's hard assets into cash, which is necessary for distributing funds to beneficiaries and completing estate administration. The three main types of property that need to be liquidated include: 1) Real property (real estate owned by the decedent), 2) Tangible personal property (items such as automobiles, furniture, heirlooms, and jewelry), and 3) Intangible personal property (like stock certificates and bonds). Paul indicates that the next part of the tutorial will detail the liquidation process further.
