Estate Liquidation Guide: Essential Tasks for Trustees
Liquidating an estate is a significant responsibility for trustees, requiring careful management and adherence to the trust’s terms. To ensure a smooth process, trustees must understand the trust document, accurately inventory and appraise assets, settle any outstanding debts, and strategically liquidate the estate’s holdings. Finally, distributing proceeds to beneficiaries according to the trust is crucial. This concise guide outlines the key steps trustees should follow, helping them fulfill their duties efficiently while navigating the complexities of estate liquidation.
