What happens to mutual funds in the joint bank account when primary person dies?

When the primary account holder of a joint bank account dies, the handling of mutual funds depends on the account's ownership structure. If the mutual funds are held in the joint account and the account is set up with rights of survivorship, the surviving account holder typically gains full ownership of the funds. However, if the mutual funds are individually owned by the deceased, they may go through probate, and ownership would be transferred according to the deceased's will or state inheritance laws. It's advisable to consult a financial advisor or estate attorney for specific guidance.