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How Often Should I Update My Thai Will?

Transcript of the above video:

As the title of this video suggests, we are discussing Thai Wills and updates thereto. A question that sometimes comes up, usually at the end of the process of drafting and formalizing a Thai Will, we will be in the office the Thai Attorneys and I, along with the client and people will ask "well when should I update this?" and the answer is "well it depends." I know folks that watch this channel frequently probably think I am a broken record but it is going to depend on the facts of your given case. 

Long story short, there are certain events, especially in a family context that it may be a good idea to go ahead and update a Thai Will if certain things come to pass for example divorce, especially if the person one is divorcing was the major or a primary beneficiary or an executor of the Will; the death of someone in the Will who had a primary function, again possibly as an executor or a beneficiary of the Will. There are a number of reasons for updating. Financial circumstances may have substantially changed and one wishes to reallocate how their assets should be dispersed. Again it is going to be very fact dependent; it is going to be very tailored to a given individual’s case. I suspect it is not unlike the notion, I believe it was Oliver Wendell Holmes the Supreme Court Justice who said "I will know it when I see it". I suspect a lot of folks kind of would instinctively know when it might be a good idea to update a Will but people don't really think like that. We are not all lawyers, thank God. So not all folks are thinking that way but for the purposes of this video, if a major beneficiary, somebody who is an executor or somebody who had a part or even a small bequest in a Will, it might be a good idea to update things if something has substantially changed with respect to that individual or individuals.