What happens to the money in their bank account? Does the bank get notified of the death?
If your car is randomly parked somewhere away from your house when you die, what would happen to it?
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Most municipalities and cities have an office who can act as an executor of the estate. At least until a family member can be found. Even then they might be asked to work as the executor if the relative is distant. They will follow the last will as best as possible and will close down any accounts and liquidate any assets through auction. Most of these are self-funded through fees charged to the estates they manage. However they are still non-for-profit government controlled organizations. If there is no will or the will does not specify a valid heir then the money will usually be used to pay the fees of those deceased who can not pay them.
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