You have to cover many bases when preparing a will

There are many practical issues that you should deal with to ensure that your affairs are in order. The first thing you should have is a valid will. Next, ask yourself if you are still happy with the beneficiaries you have named. Also consider whether your will is properly witnessed.

There are a number of things you should consider:

How you are married
If you are married in community of property, you and your spouse own all your assets and your debts. When you die, half of the joint estate will be that of your spouse.
If you are married out of community of property, you and your spouse each retain separate estates.

Appointing an executor
After you die, somebody needs to make sure your debts are paid and your assets transferred to the right people in terms of your will. That “somebody” is referred to as the executor of your estate.

Reducing executor fees
If you appoint anyone other than your spouse or a family member as the executor of your estate, your estate will have to pay the executor the fees set out by law. The maximum fee is 3.5 percent of the assets in your estate.

Cash for surviving spouse
Your surviving spouse will need cash to live on after they die while the estate is being wound up. once your bank gets wind of the fact that you are dead it will freeze your account. For this purpose, the spouse should have his or her own bank account.

Choosing your beneficiaries
If you belong to a retirement fund, you may nominate your spouse or children as beneficiaries of the fund.

Final wishes
Don’t forget to leave some instructions to your family about funeral arrangements after you die

I think that when you are a bit older and already have a familly, you should do this even when you don't think about dieing at all. You never know what could happen.

Kathleen Aps

Source : http://www.persfin.co.za/index.php?fSectionId=706&fArticleId=4070426