Dunno, is the death planned (well, as planned as it can be, but I meant more, you know it's happening, time to prepare, eg, old age/terminal illness) or sudden?
If it's sudden it becomes property of my parents as I've got no will currently, and will probably get given to my best mate as they know he's a good guitarist, if it's planned and approaching therefore I'd have time to organise a will, bits would go to my mate (and his brother who's actually a bassist) for the same reasons, the rest would be sold off for cash to pay for my coffin and funeral so as not to trouble the family finances, along with a donation to the charity of my illness (providing it's not old age, which it'll go to the RSPCA or to a Hosptial charity), and what's left to my 2 best friends to help with uni fee's.
Of course, that statement is based upon the here and now and my current situation in life, as stuff changes, so would my plans.