At Business in Siam, we are specialists in Thai family law
Last will and testament
Managing the succession of an estate is often complex. It can sometimes lead to conflicts and discussions between the heirs about what the deceased’s actual last will was, and how the assets are to be shared. It becomes even more complex when there are assets in several countries.
Writing your testament is a cheap and effective way to ensure that no annoying and unnecessary discussions need to take place between your heirs.
When writing a testament for assets in Thailand, it is important to be clear about which country’s law is valid, and that the documentation is correctly formatted. You will also need to be clear on the differences between Thai and western inheritance laws.
At Business in Siam, we understand the importance of getting it right. We will walk you through everything you need to know, and help and support with all aspects, to give you complete peace of mind.
When a foreign resident with assets passes away in Thailand, a court hearing is required.
Being properly prepared for this hearing is essential. Several documents are required and these need to be translated, and properly legalized, to comply with Thai regulations.
After the court hearing, an estate administrator or testament executor is appointed. They have the authority to transfer money and real estate to the relevant legal heirs.
Inventory of estate
According to the European Inheritance Regulation, an inventory of estate shall be produced in the country where the deceased had his/her latest residence. This means e.g. that for a person who was residing in Thailand at the time of his/her death, an Inventory of Estate will be required from Thailand in order to close bank accounts and shift assets in Europe.
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Business in Siam provides independent advice and services for companies and individuals, on all aspects related to Thailand