Thailand Will and Estate Planning

Wills in Thailand

In order for a Thailand will to be legally recognized in Thailand it must follow certain requirements as stated under Thai law. It can be written in either Thai or English. Wills written in other jurisdictions are legally valid in Thailand, but they must be translated into Thai to be presented to a Thai court. A testator must be at least 15 years of age. Thailand recognizes three types of wills: 1) Wills made before public officials—usually signed at the Amphur office; 2) Holographic Wills—those written by the testator without witnesses; 3) Validly witnessed wills, usually in the presence of two witnesses. Under Thai inheritance law, there is currently no inheritance tax in Thailand. But properties which are acquired as a gift or inheritance are subject to capital gains tax and are assessed separately.

Asset Protection Thailand

Without a will in Thailand, the state can decide the legal heirs to one's property and how it will be distributed. Under Thai inheritance law, persons have six types of heirs, entitled to inherit in the following order: direct descendents; parents; brothers and sisters of full blood; brothers and sisters of half blood; grandparents; and uncles and aunts. The surviving spouse of a legally registered marriage can also qualify as a statutory heir, where upon the inheritance will be divided between the spouse and other heirs. If there is no surviving spouse, the statutory heirs will be entitled to the whole estate.

Thailand Estate Planning

It is advisable for a foreigner to make a Thai will for his property located in Thailand because it is easier and faster to enforce a Thai will than enforcing a will made under a foreign law. If a will is made under a foreign law for a property in Thailand, to enforce such will in Thailand, the heir of the deceased must prove the foreign law to satisfy the Thai Court. If the will is contested by any other heir in the Thai Court, recognition and enforcement of the will can be complicated and difficult. Having a will in Thai can maximize the value of one's estate, reduce taxes, and minimize the chance of future family conflict.