If you die without a will, your assets will be distributed according to the Intestate Succession Act. Administrators will manage the estate, and the procedure is more complicated and lengthy. The distribution follows specific rules based on your surviving relatives.
For example:
- If you have a spouse but no parents or children, your spouse will receive 100%.
- If you have a spouse and children, your spouse will receive 50% and your children will receive 50%.
- If you have a spouse and parents but no children, your spouse will receive 50% and your parents will receive 50%.
- If you have parents but no spouse or children, your parents will receive 100%.
In the absence of any surviving relatives, the estate will go to the government.
It's always best to have a will to ensure your assets are distributed according to your wishes.