A Will is a legal document that coordinates your wishes regarding the distribution of your assets after you die, as well as giving legal guardianship for your minor children. Having a Will is vital because it allows you full control over what happens to your assets. Assets can include money, investments, and property. This document will also include who your Executor will be. An Executor is a person you choose to carry out the responsibilities of your Will; they gather and safeguard your assets and distribute them to the beneficiaries per your instructions. You can also include an alternative plan to distribute your assets if the initial plan does not work out.
According to the Wills, Estates and Succession Act (WESA), if one dies without making a Will, the following scenarios can take effect in relation to your situation: