What happens to my children if both parents die without a Will?

More than just assets, making a Will is also about delegating guardians for your underaged children. If you are a parent, your children will probably be your biggest concern in the event of your death. You would most likely also have preferences on who gets to take care of them. 

Being orphaned by itself is already a tragedy. Without a Will, “someone” needs to apply to Court to be the legal guardian of the child. If it ends up with too many parties fighting in Court to take care of the child, it’s at least a happy problem. Otherwise, what happens is that the Court will force someone to do so, and in the meantime the child will be placed in foster care.

This is as compared to having a Will, you get to ensure that your children are well taken care of by trusted guardians when you are no longer around.