Planning for the Future: Drafting Your Thai Will

Understanding the Importance of a Thai Will

Planning for the future, especially considering the end of life, is a task many shy away from. However, it’s crucial to arrange your estate affairs to prevent any additional stress to your loved ones during a time of loss. In Thailand, the moment you sign a property contract and make the first payment, you acquire an asset that should be included in your estate planning.

At Closer Law, we emphasize the importance of having a Last Will and Testament for your Thai assets, in addition to one in your home country.

Why a Separate Thai Will is Essential

Our team at Closer Law specializes in crafting Thai Wills, tailored to cover your Thai-based assets such as properties, bank accounts, vehicles, and personal belongings. Upon the passing of a foreign national in Thailand, government officials typically request a Will to facilitate the distribution of assets.

Relying solely on a Will drafted in your home country can complicate matters for your family due to the need for translations and legal validations. A separate Thai Will simplifies this process significantly.

Estate Distribution: Thai Law and Your Assets

In the event of passing without a Thai Will, Thai law outlines a specific order of asset distribution to relatives, as per Section 1629 of the Civil and Commercial Code (CCC). This order includes descendants, parents, full and half siblings, grandparents, and uncles and aunts.

Before this distribution, half of the estate, known as ‘Sin Somros’, is allocated to the surviving spouse. If no relatives are alive, and there’s no Thai Will, assets default to the State. Therefore, it’s crucial to have a Thai Will, especially for property owners in Thailand.

Special Considerations for Freehold and Leasehold Properties

Property ownership in Thailand can be complex. For freehold property owners under a company structure, inheritance occurs through company shares rather than direct property transfer. Leasehold properties present a different scenario.

As lease rights terminate upon the lessee’s death, including a succession clause in the lease agreement is vital. This ensures the transfer of lease rights to your heir. A clear Thai Will is essential in both cases to ensure smooth transition of these rights.

Navigating Legal Complexities in Thailand

Property acquisition in Thailand involves minimizing risk and securing your investment, particularly when dealing outside your home jurisdiction. A valid Thai Will plays a crucial role in mitigating risks and ensuring clear communication of your intentions. Seeking professional advice is a wise step towards safeguarding your interests.

Closer Law: Your Guide in Estate Planning

At Closer Law, our team of skilled Thai and foreign legal experts are here to guide you through drafting your Thai Will. We understand the intricacies of Thai law and are committed to ensuring your assets are distributed according to your wishes. Contact us for a consultation and start securing your legacy in Thailand today.

Get in Touch with Closer Law

At Closer Law, we’re dedicated to providing exceptional legal guidance tailored to your needs. Whether you’re seeking advice on estate planning, property laws, or any other legal matter in Thailand, our team is here to help.

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