My friend's father died recently. Her mother died years ago. My friend was the only living child, so everything her father owned should naturally go to her. I was surprised when she told me how much trouble she had when she tried to get the money from his savings account at the bank.
Most people just assume that whatever they have when they die will go to their next of kin. We all know this can be a problem when the next of kin is a group of siblings, but this wasn't the case with my friend. She thought getting the money from the bank would be simple.
It wasn't. Everyone should have a beneficiary picked out when he or she opens a new bank account, so that there will be no problems if the person dies without a will in place to spell out where everything goes and who gets what.