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ResourcesThailand Real Estate & Property LawTitleAre Thai Wills Only for Old People?

Are Thai Wills Only for Old People?

Transcript of the above video: 

Unfortunately, I am making this video in light of a rather recent kind of tragedy. We lost a client here in our firm; he was rather a young guy and by young, I mean he was under 50, but he was in his 40s, but that's pretty young. I'm in my 40s. I mean to lose somebody like that, it's not great.

The reason I'm making the video is oftentimes Wills are looked at as something only for guys that are getting up there in years. In this guy's case, he had a wife and a kid and quite honestly was just involved in a horrific accident, had nothing to do with him and he's just gone and it's really sad, I feel for his family. But when we were actually doing his prenup, when he got married some years back - it was actually before his kid got here - and when we did that, at the same time I said, "hey you guys are getting married, do you want to go ahead and do a Will and we'll sign that after you all get married, you're all legally married?" And the guy said yeah, yeah, sure go ahead and do it, we'll just add it on and then it's there. 

Some people opt not to and I actually get why people opt not to. They may not have property; they just may not care. In this guy's case he did it, and it actually is working out very well for his wife, because it's going to be very smooth as we process everything through the Courts, and she just gets the inheritance. In this case it was basically a condo and a bank account here in Thailand. But again, the point needs to be made especially if you have been married here in Thailand or if you have a child here in Thailand. Even if you are not an old guy, a Will might be something to just have. If nothing else, a Will that basically says, "everything I have got, whatever that may be goes to such and such." If for no other reason than if you go, you want to put your loved ones in a position where they can smoothly process everything associated with the probate. 

So the point I'm trying to make and the thing to take away from this video is again Wills are not necessarily just for older men or older people here in Thailand. They can be for younger guys as well. Now again, if you're just in your twenties, footloose and fancy free, you have got no wife, you have got no kid, I don't know if you really need a Will. But again, I think some major inflection points in a person's life changes that analysis. Having a wife or gaining a wife, gaining a child, I think are both things that one should look at with regard to drafting any kind of testamentary instrument, because in the event that they lose you, you can at least rest assured that your property and your assets will transfer to them in the smoothest manner possible. 

Now that said, those who get overwhelmed about Wills and the possibility of assets in multiple jurisdictions as well as issues associated with what we call in the Common Law vernacular probate or effectively the reading of the Will and the enforcement of judgments associated with the Will, again you are going to possibly want to go ahead and contact a legal professional to gain some insight and guidance because this stuff can be very complex. So the thing to take away from this video and understand is Wills in Thailand are not necessarily exclusively for the elderly.