The main myth:
“After the death of a foreigner, all their property goes to the state.”
This is not true.
Let’s review the most common misconceptions and what actually happens in practice.
Company Shares Are Not Inheritable
Myth: Shares cannot be passed to heirs.
Reality: Shares are assets, just like real estate, funds, or vehicles, and they can be inherited.
Important: The position of director is not inheritable.
A Will Can Only Be Made for Completed Property
Myth: You must wait until construction is completed.
Reality: You can bequeath not only property but also contractual rights, such as:
- purchase agreements
- leasehold agreements
A will can be made immediately after signing the contract.
Naming an Heir in a Developer Contract Is Sufficient
Myth: This replaces the need for a will.
Reality:
- a contract does not replace a will
- such a clause has no legal force
Heirs are determined either by a will or by law.
The Inheritance Period Is 1 Year
Myth.
Reality: Thai law does not set a strict deadline for entering into inheritance.
Formally, claims can be made at any time.
Practical recommendation:
Do not delay for more than 3 years.
If There Are No Heirs, the State Takes the Property
Myth.
Reality: The state does not automatically receive the property.
In practice:
- the property remains pending until heirs appear
- claims may be made by:
- heirs
- creditors
A Will Made Abroad Is Not Valid
Myth.
Reality: Such a will is legally valid, but:
- it is more difficult to legalize
- the process takes more time
Therefore, it is generally recommended to prepare a will in Thailand under local law.
Foreigners Lose Inheritance Rights Without a Will
Myth.
Reality: The rules are the same for everyone. Inheritance is governed by law.
Order of succession:
- spouse
- children
- other heirs
Conclusion
Inheritance law in Thailand:
- applies equally to Thai nationals and foreigners
- allows the transfer of all types of assets
- requires proper legal documentation
The key instrument of protection is a properly drafted will.
Author: Alexandra Agapitova
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