Thai Will and Succession. A legal Thai Will details your assets in Thailand and prevents complications after death. When a person dies without a will, probate courts determine beneficiaries and allocate assets based on Thailand law.
A valid will must contain the name and contact details of the person making it, a statement that it is their last will and testament and signatures of witnesses. Preparing a Thai Will makes it much easier for loved ones to access your assets and saves time and expense.
Protection of Assets
Drawing up a will remains the best way to protect your property in Thailand. This includes all properties that can be legally held in Thailand, such as real estate, bank deposits, shares and gold. For those married in their home country and have children, a will is especially important for protecting them against legal disputes after the death of their spouse.
When a person dies without a will, their assets are distributed according to Thai inheritance law, namely, to the heirs listed in Book VI of the Civil and Commercial Code. These include: surviving spouse; parents; children; brothers and sisters of full blood; grandparents; uncles and aunts.
If you have properties in your home country and in Thailand, it is advisable to draw up a will in both countries, excluding Thailand from the scope of the foreign last will. It is also a good idea to have a Living Will in place. If the foreign last will is not recognized in Thailand, a Thai will will be enforceable instead.
Avoidance of Legal Disputes
A Thai will enables an individual to identify his/her legal heirs and stipulate how assets should be allocated upon death. In the absence of a valid will, inheritance is divided in accordance with a set of rules called the law on intestate succession. This can lead to legal disputes and unnecessary expenses for the heirs.
For foreigners who own property in Thailand, preparing a Thai will is essential. This will help them avoid a lengthy and costly legal process after death, and ensure that their wishes are respected.
A well-drafted Thai will by a reputable lawyer can also protect heirs from unwelcome claims and creditors. If a person dies without a will or with an invalid one, their estate is handed over to probate courts for distribution and protection. This process is supervised by the courts and aims to project the deceased’s wishes and comply with Thai inheritance law. It is therefore advisable for people with mixed estates in both their home country and Thailand to make a separate will for their assets in Thailand.
Avoidance of Inheritance Tax
For those who own property in Thailand it is important to make a Thai will. This will avoid a lengthy and costly legal process after death and ensure that the inheritance you leave behind is distributed according to your wishes. It also helps to avoid disputes among family members.
The law in Thailand requires that a will be in writing and signed by the testator before a witness. It must include the name and contact details of the testator and a statement that it is their will.
If a person dies without a will or with a will that is not valid, their estate will be passed on to the probate court which will determine beneficiaries and allocate assets according to Thai law. This can take months or even years and could result in family disagreements. It is recommended for foreigners to have a Thai will if they own property in Thailand. Our team of legal experts at Banchee Legal House can assist in drafting a will that is valid in Thailand.
Avoidance of Court Probate
A will is the best way to ensure that your property in Thailand is distributed according to your wishes. It is important for both local and foreigners who have movable or immovable properties in Thailand. A Will drafted in the testator’s home country is not necessarily recognized under Thai law. The only legal way to have your Will recognized is if it was drawn up on the territory of Thailand, signed in front of two witnesses and adheres to all Thai law requirements.
If a deceased person does not draft up a Will, the property will be transferred to his or her heirs based on the law of intestate succession as stipulated in clauses 1599 and following of the Commercial and Civil Code of Thailand. This process is not only time consuming but can also result in high legal expenses as heirs will have to prove their entitlement in court. In order to avoid this, it is always advisable to have your estate planned with the help of a lawyer.