It is estimated that over 60% of people do not have a valid Will. Many believe they do not have enough assets to pass on when they die, or assume that their immediate family will automatically take whatever possession they do have.
It is also a common misconception that partners or friends have the freedom to do what they want to do with the deceased persons assets without any implications.
Whilst this may be true in some cases, the burden will be on your loved ones to gather whatever assets you own and distribute them in accordance with the laws of intestacy (explained below). This often creates considerable difficulties for grieving families especially when there is a difference of opinion on who can lay claim to your assets when you have passed.