When my dad passed away, he had over $100,000 in checking and bank accounts. The accounts had me on them as Joint Tenancy. All his other accounts were setup as POD. So legally, upon his death, the money in those accounts goes directly to me and I think according to Minnesota law, JT supersedes his will? I plan on honoring his wishes and dividing out the money to all the siblings. So, if all that is correct (please correct me where I am wrong) then how can I distribute the money without raising any red flags. If I write out checks to the siblings then since the money is technically mine, wouldnt I be limited to $15,000 per person and a gift in order to avoid any taxes?
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