If you own property or hold property rights in Thailand, it is worth taking care in advance of how these assets will be transferred to your heirs.
This applies not only to real estate, but also to rights under a leasehold agreement, company shares, bank accounts, vehicles, and other assets.
Who Should Make a Will?
A will is recommended for anyone who owns property or holds property rights in Thailand.
In particular, this may include:
· real estate;
· rights under a leasehold agreement;
· company shares;
· bank accounts;
· vehicles;
· other assets and property rights.
A will allows you to determine in advance who should inherit your property after your death and establish the procedure for transferring it.
Is It Necessary to Make a Will Specifically in Thailand?
It is not mandatory to make a will in Thailand, but in most cases it is advisable if the assets are located in Thailand.
A will made abroad will need to be legalized before it can be used in Thailand. At the same time, Thailand does not have the option of using an apostille with a number of countries, so the legalization procedure may be more complicated.
When making a will in Thailand, you can immediately take into account assets located in the country and include provisions required for local procedures.
In particular, you can specify the assets to be inherited, appoint an estate administrator, and, where necessary, address matters related to guardianship.
In What Form Is a Will Made?
The most common option is a written will signed by the testator and two witnesses, with the participation of a lawyer who prepares the document.
There are also other forms of wills, including:
· a will handwritten by the testator;
· a will prepared at the local administrative office. Such a document is prepared in the Thai language.
The choice of form depends on the specific circumstances and legal requirements.
What Language Should the Will Be Written In?
A will should be written in a language that the testator understands.
When the will is executed, the necessary documents are translated into Thai for use in the relevant procedures.
For foreigners, a will in Thailand is usually prepared in English if the testator speaks English and understands the contents of the document.
What Happens If There Is No Will?
If there is no will, inheritance takes place according to the law and the established order of heirs.
The heirs include:
descendants;parents;full brothers and sisters;half-brothers and half-sisters;grandparents;uncles and aunts.
Heirs within the same class generally receive equal shares.
At the same time, a spouse also has inheritance rights. Their share depends on which class of heirs they inherit alongside.
For example, if there are children, the surviving spouse receives a share equal to that of the children.
Therefore, the absence of a will does not mean that the property will simply pass to the closest relative. In each case, it is necessary to determine the heirs and the order of inheritance established by law.
How Does the Inheritance Procedure Work?
Regardless of whether there is a will, a prescribed procedure must be followed to settle an inheritance in Thailand.
If the inheritance must be settled through the court, an application must be filed with the court. After the application is submitted, a court hearing is scheduled, at which the heirs must appear in person.
According to the procedure described, the hearing is scheduled within two months after the application is filed, and the court decision becomes effective approximately one month later.
Therefore, settling an inheritance without a will prepared in advance may require additional time and legal procedures.
Why Is It Better to Make a Will in Advance?
A will allows you to determine in advance what will happen to your property and property rights and can significantly simplify the process of transferring them to your heirs.
Preparing a will in advance is generally much simpler and less expensive than subsequently resolving inheritance matters through court proceedings.
Author: Alexandra Agapitova.
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