Setting Up Last Will and Testament in Thailand

Among the issues that are often faced by foreigners residing in Thailand is estate planning. This is a process by which the attorney and client work together to structure the distribution of assets in the event of a death. This includes drafting a last will and testament that complies with Thai laws and serves the client’s objectives.

A last will and testament is a legal document that allows you to state how your property or other assets should be distributed upon your death. It also allows you to appoint guardians for minor children and to appoint an executor. It is a very important document to have and can be very beneficial in preventing family disputes that arise after your death.

Setting up a last will and testament in Thailand is essential for any foreigner that has properties in the country or any assets that they want to distribute after their death. A last will and testament can prevent problems that may arise after your death, and can help to avoid costly court costs.

There are a number of websites that offer off the shelf last will and testament templates. However, these templates are not suitable for all foreigners who have assets or properties in Thailand as they only cover the basic legal aspects of a will and do not consider all of the complex issues that can arise.

It is very important to have a lawyer draft your will as errors and omissions can cost your heirs large sums of money. A good Thai lawyer will be able to ensure that your will is valid in Thailand and will meet all the requirements of Thai law.

The first thing that you need to do is to make a list of all of your assets, including any movable or immovable property in Thailand and any shares of a company (shareholders) or leasehold rights. You will also need to include the names of your beneficiaries, and the person that you have chosen as the executor.

Once you have a list of all your assets, you need to contact an attorney in Thailand that can assist you with the preparation of a last will and testament. An attorney can provide advice on how to best divide your assets and protect your heirs from future family disputes that might arise after your death.

One of the most common mistakes that foreigners make when they prepare a will in Thailand is that they leave their assets to their spouse instead of their children. It is a mistake that can be very costly to rectify and will create even more problems for your heirs when they are trying to sort out your assets in Thailand after your death.

Another mistake that foreigners often make when they prepare a will is that they fail to include the beneficiaries who will receive the shares of their companies in their wills. This can be very expensive to correct and will result in a delay in your heirs receiving the shares they want in their will.