O365 family sub migration question

I can’t find an answer to this anywhere on MS site or their support forums so thought I’d ask here.

I have an O365 family sub paid for by me and with my Microsoft account as the ‘owner’. My wife and kids also use it via their own MS accounts and have stuff in their Onedrives etc.

I have a terminal illness and want to migrate ownership and payment of the O365 licence to my wife before I die, so that she and the kids can continue to access the features and more importantly their Onedrives without interruption. Does she just take out a new family sub and move her and the kids over to it and her existing Onedrive migrates or will it wipe and give her a new one?

My own onedrive content will be downloaded and backed up seperately as I’d expect that to be lost when my account is deactivated. Annoyingly the same is likely to be true of the 3 years of gamepass attached to it unless anyone is aware of a workaround for that?