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Paul Grow, manager of the Estates Administration department at the Law Offices of Daniel Hunt, offers tips for trustees on how to start the process of liquidating assets after a death. This includes converting real property, tangible personal property, and intangible personal property into cash. Real property refers to real estate owned by the decedent, while tangible personal property includes items like furniture, clothing, and jewelry. Intangible personal property includes stocks, bonds, and CDs. Liquidating assets is crucial in trust or estate administration to distribute funds to beneficiaries and complete the administration.
