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In this tutorial, estate planning attorney Philip Bruce explains the concept of a transfer on death deed for homeowners in Minnesota. This deed functions as a real estate document allowing homeowners to designate a beneficiary for their property upon their death, akin to beneficiary designations on bank accounts or life insurance policies. To create this deed, a proper filing with the county is required, along with a fee. Bruce cautions against the do-it-yourself approach, noting that mistakes often only become apparent after the owner's death, leading to complications that he frequently addresses in court. Hence, careful execution is essential for effective estate planning.