Estate Liquidation

Estate liquidation is the process of selling a deceased person's assets to settle their debts and distribute remaining value to heirs. This typically involves valuing items such as real estate, personal possessions, and financial accounts. Once assessed, these items are sold, often through auctions or estate sales. The proceeds are first used to pay any outstanding debts, taxes, and expenses related to the estate. After these obligations are met, the remaining funds are distributed according to the deceased's will or estate laws. Estate liquidation helps ensure a fair and efficient transfer of assets after a person's passing.