When you die, what happens to your bank account depends on how it's set up. An account with no beneficiary goes through probate and gets frozen. A payable-on-death beneficiary skips probate entirely. Joint accounts pass to the surviving owner, but a trust account goes to whoever the trust names.
What is going to happen to your bank account when you exit the planet? I thought you'd never ask. Okay, to start off, let's say you owned it in your own name with no beneficiary. That account is most likely going to have to go through probate, and more than likely the bank will freeze it. Next, let's say it's an account in your name alone and you have a beneficiary on it. They will get the money, no probate. But what if that beneficiary that you named on the account is not alive? Unless that designation was set up to include their descendants, that account is back in probate court. If you have an account jointly with somebody else, most likely the entire account will be theirs, but that person will now own it in their name alone. So if they do not add a payable-on-death beneficiary, when they die, the account will go to probate court. If your account is held in the name of your trust, your successor trustee comes in and distributes that money to your beneficiaries. So
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