Thai Will and Succession
A Will is a legal document that expresses an individual’s decision as to who should inherit his wealth and what part of the assets should go to whom upon death. This can help avoid potential conflicts and confusion after death.
Surviving spouses qualify as statutory heirs according to Section 1635 of the Civil and Commercial Code. Other heirs (half-blood sisters and brothers, full blood sisters and brothers, grandparents, aunts and uncles) are entitled to an estate in a specific order governed by Thai inheritance law.
What is a Will?
A Will is a legal document that clearly states an individual’s last wishes. It enables the testator to choose their heirs and avoids family disputes.
Normally, a Will must be written and signed by the testator in the presence of two witnesses. These witnesses must be over the age of 15 and not have a conflict of interest with the contents of the will. The witnesses must also sign their names to certify that they have witnessed the testator’s signature.
A Will can be written in either Thai or English. It is important to have it drafted by a lawyer who is familiar with estate planning and Thai law. It can also be beneficial for a foreigner to have their Will drafted in their home country and then translated into Thai, notarized and registered. This will make it easier for the surviving spouse to settle their inheritance in Thailand. This could significantly cut down on expenses, time and complications for the heirs.
What happens if a person dies without a Will?
There are many scenarios that can occur if an individual dies without a Will. The law determines who inherits their assets in accordance with Thai Inheritance and Succession (Book V – Succession). If you are married, your spouse is considered a statutory heir and your estate will be divided equally between the two of you. If you are single, your estate will be divided among the six classes of legal heirs listed in Section 1635 of the Civil and Commercial Code: descendants; children; parents; siblings; half-brothers and half sisters; full blood brothers and sisters; and grandparents.
To be valid, a Will must be written by the testator and signed in the presence of two witnesses. A lawyer is recommended to ensure that the Will is properly drafted. Any errors can lead to problems for your descendants and may require costly court proceedings to resolve. A Will should also include a list of all the assets owned by the testator including local and foreign property, bank accounts and vehicles.
What happens if a person dies with a Will?
A properly drafted Will is the best way to ensure that your wishes are respected after death. A lawyer can assist with drafting a Will that meets Thai requirements and will be valid in court.
If you are a foreigner and own property in Thailand it is important to make a legal Will to ensure that your assets are disposed of according to your wishes. There are several types of Wills in Thailand but only a legal will made in accordance with the law will be enforceable in court.
If you die without a Will, Thai law will decide who receives your assets. Your estate will be divided amongst statutory heirs, which are classified into six different classes (descendants; parents; brothers and sisters; half-blood brothers and sisters; grandparents; and uncles and aunts). The surviving spouse is automatically a class one statutory heir and will receive the highest amount of your estate. The rest will be distributed to the other statutory heirs in a specific order stipulated by Thai law.
What happens if a person dies with no Will?
It is always advisable for an individual to make a Will. This ensures that his or her wishes are respected soon after death. It also makes succession much easier to settle.
A Will is a legal document that expresses the decision of an individual as to whom will inherit his or her wealth and what part of their assets goes to who upon their death. In case of an unmarried person with children, their spouses are statutory heirs (if they survive). If they do not, then the share will be distributed to siblings or descendants of siblings on both the father’s and mother’s side.
A Will can be made by orally in front of a public officer in the presence of at least two witnesses, making it a holographic will. It can also be written by hand in Thailand and not need to be notarized. However, it must be dated and signed by the Testator.