Last Will and Testament in Thailand
By: Magna Carta Law Office
A Last Will and Testament is a declaration of intention by will, concerning dispositions as to your assets or other matters which shall take effect according to law after your demise. The document will detail your assets in Thailand, such as property, bank accounts, vehicle, and personal valuable items, designating who shall inherit and control them according to your wish to prevent unnecessary complications and quarrels between family members.
In Thailand, when a person dies without a Last Will and Testament, the intestate’s assets must be distributed in accordance with the law. As stipulated in The Civil and Commercial Code Section 1629, there are six classes of statutory heirs in Thailand. Each class is entitled to inherit in the following order; descendants, parents, brothers and sisters of full blood, brothers and sisters of half-blood, grandfathers and grandmothers, uncles and aunts.
The right of a surviving spouse to share in the estate of a deceased spouse arises automatically from marital status. Spouses who are under separation do not lose the right of inheritance to one another as long as divorce between them has not been granted according to law. Ordinances awarding such rights on a surviving spouse make the spouse a statutory heir. Before any distribution of the estate to the relatives, half of the estate will belong to the spouse, if any, and the rest will be distributed accordingly.
It is very important to observe the correct legal formalities when signing, amending, or revoking your Will. If you fail to follow all of the specific formalities, then your Last Will won’t be legally valid.
Your Last Will and Testament shall cover these important points:
Appointing an Executor
Overall, the executor will administer your estate and make sure that everything is done according to the terms of your will. Appointing a trusted executor is an important decision that needs thorough consideration. The executor will make sure that all assets are accounted for, all existing debts and tax obligations are paid, and that remaining assets are distributed to the correct beneficiaries in accordance to your will.
Naming all the beneficiaries of your assets
This shall declare the details of everyone such as family members, friends and even charities that you want to benefit.
Procedure on how the inheritances shall be transferred to your beneficiaries
Assets shall be transferred to the respective beneficiaries according to your will. In case of a minor beneficiary, the assets shall be administered by an able parent until the minor reaches certain legal age in accordance with the law.
How funeral must be arranged
Testators can state how the funeral and burial must be arranged.
Magna Carta Law Office is offering this service of drafting your Last Will and Testament in Thai and English languages for 10,000 Baht.