I always sent condolence cards (the hospice w/which I volunteered had printed nice cards with the hospice logo). Depending on how close I was with the family, I sometimes called.
If you are not close with the family and/or patient, it isn't necessarily the best idea to be present for the death. Dying is the last thing people experience and they shouldn't have to have a volunteer present unless that's what they want. Some people like to die surrounded by family and friends. Others seem to choose to die alone (people often die the moment everyone clears the room!). Few prefer to die with a relative stranger (obviously exceptions exist, such as when someone doesn't have anyone else to be there), and unless you've been with a patient for a while, you probably fall into that category as a hospice volunteer.
In my experience, the sole purpose of a hospice volunteer is to serve the needs of the patient and/or caregiver. The volunteer's personal agenda is necessarily checked at the door. That may sound a little harsh, but if you spend enough time as a volunteer you will likely run across someone who wants you to be with him when he dies. But don't take it personally when someone doesn't want you there. This is one time it's never about you.