DIGEST OF INTRODUCED BILL
Transfer on death transfers. Provides the method for determining the amount a joint owner or beneficiary of a protected person's multiple party account is entitled to receive from the protected person's estate when a guardian has used assets of the multiple party account. Authorizes individuals to designate beneficiaries to receive certain forms of property, including real property, upon the death of the individual. Specifies that the new statute does not apply to the transfer on death transfer of a motor vehicle, watercraft, TOD securities registered before July 1, 2009, or POD accounts established before July 1, 2009, which remain subject to current law.