“You can’t take it with you,” but it leaves the question: What happens to the bank accounts you leave behind?

The answer depends on a few factors, including whether the account is a joint account, if there’s a will and if a beneficiary is named

For those close to the deceased, here are some circumstances to consider and what to do when an account holder dies

If someone is the sole owner of a bank account, it’s important to know whether someone is named to inherit the account’s funds

Many banks allow their customers to name a beneficiary, which is sometimes called a payable on death or transferable on death account

If the account holder established someone as a beneficiary, the bank releases the funds to the named person

If the owner of the account didn’t name a beneficiary, the process can be more complicated

If the owner of the account didn’t name a beneficiary, the process can be more complicated