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Thai Wills: When Should I Draft a New One?
Transcript of the above video:
As the title of this video suggests, we are discussing Wills in the Kingdom of Thailand, specifically when one should draft a new Will. What are we talking about here?
Well look things change. You may write a Will; you may have written it five years ago and you have a new wife now, or you have no wife now, or you may have had your beneficiaries pass away before you. There's a million things. You may decide to completely change your mind. The question posed is when should you draft a new Will? Well if your situation has materially changed, or you want to change your beneficiary, that's a good time to seriously consider drafting a new Will.
That being said, issues regarding capacity can be substantial, especially as people age. If one's mental capacity is questionable as one is further aging, it may be a better idea to deal with a new draft sooner rather than later so that nobody can, in the event it goes through the process of what we would call Probate, what they call Succession here in Thailand, you wouldn't want anybody questioning the capacity of the person who made the Will.
So if that might be an issue into the future, probably a better idea to draft a new Will sooner rather than later.