Can a life estate holder sell off assets in home?

The life estate is typically attached to the real property (the land/house) only. The goods in the house are distributed according to the will and normally, the expectation is that the person receiving the life estate has the goods in the house already. Example, mom gets a life estate in the house after dad dies. Mom inherits everything in the house from her husband and can do what she wishes with it, including sell it, unless the will specifies otherwise.