When someone dies, where does the money in their bank accounts go?

Answer 1

It depends on which country or state you live it.

But generally, if the person made a will it will go to the person so named in the will. If the person dies 'intestate' that is w/o making a will, depending on the law of the country the person lived and died in, it will go to his next of kin ie.wife/husnand.

Then to children and if no children, to his parents and if parents are dead to his siblings. If no living relative and it goes to the state or the government of the country, in some countries (of the Commonwealth) it is said to go to the 'Crown'.

Answer 2

It goes into their estate. just like their property and cash, stocks, etc. After it is determined if there was a last will and testament then assets are taxed and divided amongst the heirs until there are no more dollars left. The bank then closes the account permanently.

Answer 3

usually the accounts and assets are frozen until probate(the reading and execution of the will) then the money will go to the beneficiaries or trustees of the estate.

Answer 4

If they have a will it will go to whoever is on it. If they dont have a will the government has more money

Answer 5

In Australia where i live if it is not willed to anybody it eventually gets deposited in the country's Treasury

Answer 6

They go to the beneficiaries if they have someone on their account

Answer 7

I have it deposited directly into my account. you never see a dime of it and nobody is the wiser.

Answer 8

legal heirs wi ll get teh amount

Answer 9

if they got a will, whoever they say. if not it goes to the state

Answer 10

whoever is the executor of their will will distribute it according to his/her wishes.