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When Should I Draft A New Thai Will?
Transcript of the above video:
As the title of this video suggests, we are discussing when one should draft a Thai Will, and not specifically an original Thai Will but a revision; when should one draft another Thai Will. I get this question from time to time, people ask, "well I had a Will, I have had it now for X number of years, should I update it?"
It is not necessary to update a Will per se. If nothing has fundamentally changed in your life or like style, you can have a Will from decades before, especially when it gets to issues of capacity, it sometimes a good idea to maintain a Will that was signed at a time when there was no question that one had their full faculties; they were fully competent, they had to capacity to make a testamentary instrument.
That being said, there are material changes in one's life that can necessitate or at least make it advisable to go ahead and write a new Will. In the Common Law context, we often do this by Codicil. In Thailand oftentimes, again this is based on observation as well as discussion with lawyers here in our office, oftentimes it is just better to write a new one. This is especially the case when someone gets married for example or they enter a relationship where they want somebody new for example or different to be a beneficiary of their possible Will, to leave bequest to that person. Well if this person was not in one's prior iteration of one's Will, then it's probably a good idea to go ahead and write a new one in order to include that individual or individuals.
So again, I can't make an exhaustive video where I say in all the circumstances where it's a good idea to at least think about drafting a new Will but there are a number of scenarios that will play out wherein, for example again a new spouse is a perfect like just an easy one to point out; that generally speaking would warrant the need for a new Will in my opinion and in the opinion of the legal professionals that work here in the firm as well, Thai and otherwise. That said, at the end of the day if you haven't had a major material change in your life, it is probably not overly necessary to really consider redrafting a Will. That said, if you are on the fence as to whether or not it is a material change, it is probably not a bad idea to contact a legal professional, gain some insight and guidance into how best to proceed.