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Money and accounts

What happens to their bank account when they die?

Short answer

Joint accounts transfer to the surviving account holder. POD accounts transfer to the named beneficiary. Accounts with no joint holder or beneficiary go through the estate — meaning probate, or California's small estate process if under $184,500 (2024 threshold).

What this usually means

Joint accounts transfer to the surviving account holder. POD accounts transfer to the named beneficiary. Accounts with no joint holder or beneficiary go through the estate — meaning probate, or California's small estate process if under $184,500 (2024 threshold).

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