What happens to Bitcoin accounts when an owner dies without passing on their private keys?

It’s simply lost forever. Or until the private keys are found. It sounds like a bad thing but that’s how Bitcoin works. You, and only you, should have access and no one else.

Which is why inheritance plans are really important for Bitcoin — either do a timelock transaction that automatically triggers at a fixed time (presumably once you die or are unable to access). Or simply passing on the private keys as part of your inheritance to a loved one or family.

Anyone got any experience to share with this?