A will is a legal document that sets out your wishes regarding the distribution of your property and assets. The will must be in writing and signed in front of 2 witnesses.
You, as the testator, will appoint executor/s to distribute your assets according to your will, to your beneficiaries, who are people that benefits from your will.
Any solely owned assets can be included in a will. If the asset is jointly owned, it cannot be included in a will as there is a rule of survivorship which states that the surviving joint owner would have the full ownership when one joint owner passes on.
For instance, there is a joint bank account between husband and wife, when either one of them pass on, the remaining one would get the 100% of the account.
In addition, CPF monies cannot be included in a will, and can only be nominated through CPF.
When one pass on intestate, which means without a will, then a willing party has to apply to court for a Letter of Administration to be appointed as the administrator and manage the estate of the deceased. The assets would then be distributed according to the Intestate Succession Act.