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It’s much easier for a living person to close a bank account or liquidate an asset than it is for their survivors to do so after they’ve passed away.
Much of a person's life relies on computers and internet services in today's world. These services often require login information which should be accessible to the survivors for managing, closing, or taking over accounts. Some people utilize password managers, which typically offer a "rescue" or "emergency kit" to help access accounts when needed.
Saving and investing accounts have tax implications when being transferred to a beneficiary. Consult the tax laws in the applicable jurisdiction to determine how to be most tax efficient.