A legal plan drafted by a lawyer that complies with Thai law will ensure that your wishes are respected after death. It will also make the process of settling your estate much easier.
When someone dies in Thailand without a will, the laws of intestate succession dictate that their assets will be divided among “statutory heirs.” The class of statutory heirs includes descendants; parents; brothers and sisters by blood; half-brothers and half-sisters; grandparents; and aunts and uncles.
Drafting a valid will
If you own property in Thailand, it is essential to draft a legal document that stipulates how your estate will be distributed after death. It can help you avoid costly challenges and disputes between family members in the future. It also enables you to disinherit statutory heirs under strict and specific formal conditions. However, this is a complex process that requires careful planning and advice from an attorney.
To be valid, a will must be in writing and dated at the time of its making. It must also be signed by the testator in the presence of at least two witnesses. The testator must also be mentally competent at the time of signing. A will made by a minor or insane person is void. It is advisable for expats to draft their will with the help of an experienced lawyer who is familiar with Thai inheritance law.
In addition to drafting a will, it is a good idea to keep a separate document that lists all of your assets, account details and important documents. This will save your executor and family a lot of time and money. In the event of your death, this document will be valuable for probate court, and it will provide an accurate picture of your estate. You should review this document on a regular basis to ensure that it reflects your current wishes.
Naming heirs
For those who have property in Thailand, a legal plan is crucial to ensure that their wishes are respected after death. Creating a will is the best way to avoid disputes between relatives and reduce estate costs for heirs. A lawyer can help foreigners and expats draft a will that meets local requirements, including addressing property restrictions and inheritance taxes.
A valid will in Thailand must be written and signed by the testator, and it must be dated and sealed. It should also be presented before a district office and two witnesses. In extraordinary circumstances, such as imminent death danger or an epidemic, a person may also make a verbal will.
If a person dies without a will, their property and assets will be allocated according to the rules of intestacy. The statutory heirs are classified into six different classes, and they include the spouse, children, parents, brothers and sisters, and half-brothers and half-sisters. The spouse’s share is one-half of the total estate unless it is expressly provided otherwise in the will.
A legal plan drafted by an expert can ensure that foreigners’ assets in Thailand are distributed according to their wishes. A will can specify heirs for movable property, including bank accounts and properties, as well as shares in a Thai company. It can also address funeral preferences and appoint guardians for minors. It can also establish a jurisdiction clause to clarify that the will applies only to assets in Thailand.
Inheriting property in Thailand
Foreigners face challenges in inheriting property in Thailand, particularly land, if they die without a will. A well-structured Thai will can allow them to specify heirs for local assets such as real estate and bank accounts as well as shares in a Thai company in accordance with both local laws and international tax requirements.
A foreigner can also set up a trust in Thailand to hold his or her property, bypassing statutory succession laws and providing more flexibility for inheritance. However, this should be done with the assistance of a Thai lawyer to ensure that it meets legal requirements.
If a person dies in Thailand without a will, his or her estate is divided into six different classes. The deceased’s descendants are the highest class, followed by parents; brothers and sisters of full blood; half-brothers and half-sisters; grandparents; and aunts and uncles. In addition, the surviving spouse receives two-thirds of the estate.
The legal process for inheritance in Thailand involves a lot of processes and details, especially when there are multiple heirs. It is important for a foreigner to have a Thai attorney help them draft a valid will and provide estate planning advice. A legal expert can ensure that the heirs are named correctly and that the inheritance process is smoother. They can also help in avoiding disputes that could arise after the death of the testator.
Disinheriting statutory heirs
When a person dies in Thailand without a will, the estate is distributed according to the law of intestate succession. This process considers family relationships and statutory heirs, which are classified into six classes: descendants; parents; brothers and sisters by blood; half-brothers and half-sisters; grandparents; and aunts and uncles. Surviving spouses are also statutory heirs and are entitled to 2/3 of the estate.
The law states that a statutory heir cannot be disinherited unless there is evidence of fraud or undue influence. Inheritance cases can be emotionally charged and a lot of money is at stake. Therefore, it’s important to draft a will that expresses your wishes and works with Thai laws. A lawyer can help you draft a legal plan that is valid in Thailand.
For example, you can include a no-contest clause paired with at least some nominal gift to create a strong deterrent for your children from challenging the will in court. This will prevent a dispute from slowing down the distribution of your assets to your loved ones.
In addition, it’s important to review your will on a regular basis to ensure that it reflects your current wishes and circumstances. This will prevent family disputes and help you avoid costly litigation. You should also consider naming a co-executor and giving a local lawyer power of attorney to make it easier to settle your estate.