Benefits of Liquidating Assets During Probate
One of the biggest advantages of liquidating assets is being able to pay off debt. By converting assets into cash, the estate executor can help pay off any debts owed by the estate, as well as being able to cover the estate's expenses. This minimizes stress and promotes greater financial security on a long term basis.
Moreover, liquidating the assets of an estate makes it easier for the estate executor to distribute any remaining assets. These remaining assets, which are also commonly referred to as "estate residue," describe what's left over after all debts, taxes, and further expenses are paid off. Liquidating an estate during probate helps provide the financial resources needed to pay off these remaining assets.