Life and work takes us to foreign lands and Thailand is a popular destination for many. Bangkok as a financial and healthcare hub is thriving while Phuket and other islands are idyllic for expat retirees.
What are the considerations to be taken into account to make a will & testament whilst you are residing or working in Thailand?
The most common last will and testament in Thailand as governed by section 1656 of the Civil and Commercial Code is a last will must be in writing, dated at the time of making and signed by the testator in the presence of at least 2 witnesses who sign their names to certify the signature of the testator. It is not required that such a will be notarized or registered for it to be a valid legal will. Drawing up a will under the Thai Civil Code is quite a simple task provided the Thai rules are adhered to.
However, if you did not draw up a will, or leave behind a valid will, the intestacy Thai laws will determine what happens to your assets when you demise. Under Thai inheritance laws this generally means that the assets will be distributed amongst the statutory heirs under section 1629 of the Thai Civil and Commercial Code. A surviving spouse is a statutory heir but their entitlement depends on what other class of statutory heir exists. This may take time and legal costs to ascertain to the satisfaction of a Thai court. If there are surviving children of the deceased, the spouse and children take the estate between them. Although foreign wills are acceptable in Thai Courts subject to being translated and authorized at the Ministry of Foreign Affairs, the enforceability procedures can be burdensome to the surviving spouse or children residing overseas. It is therefore advisable to draw up a Thai will to govern your distribution of assets to your beneficiaries. The legal situation may be simpler if the expat is married to a Thai national. However, all legal procedures is still subject to interpretation by the Thai Courts.
If a trust is necessary to protect, for example minors, Thai law trusts will then come into play as per section 1686 of the (Thai) Civil and Commercial Code. If the testator wants to dispose of his or her estate in favour of a minor or adjudged incompetent person or quasi-incompetent person, he can entrust the custody and management to a person other than the parents, guardian or custodian.
If you have assets both in Thailand as well as overseas, you should consider separating the jurisdictions for practical purposes. This will avoid one legal system’s delay affecting cashflow for your beneficiaries. Contact us for a consultation today.
To learn more on :
How to make provisions for your assets in Thailand
