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Fourth, certain assets held as joint tenants will
pass to other persons listed in the joint
tenancy. Finally, transfer on death assets (like
bank accounts or real property where you have
filed a transfer on death deed) will pass to the
persons you listed on transfer on death
instruments.

If you do not manage the disposition correctly
and have multiple plans in operation, you may
inadvertently leave disproportionate assets to
your intended heirs. In effect, you have
multiple estate plans in place. Let’s explore the
state sponsored distribution plan identified
above in greater detail.

The state-sponsored legislative plan for
disposing of your assets in Minnesota, if you do
not have a will or revocable living trust, looks
something like:

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