The Reasons for Making a Will in Thailand

Having to think of your death is definitely not pleasant. However, making sure that the lives of those who you leave behind are as smooth as possible is essential. Therefore you should choose to have Thai wills to ensure that your loved ones or those dependent on you do not go through any troubles to get their lives back in order.

Why should you have a will?

• Proper distribution of property – In the absence of a will in Thailand, the property is divided among your relatives according to their priority as specified in CCC Section 1629. Before the property is distributed, the Sin Somros that is half of the property would belong to the person’s husband or wife and the remaining would be distributed equally among other relatives. In case you do not want your property in this manner, it is essential that you make a will mentioning the exact manner in which you would want your property to be distributed after your demise.
• Absence of a descendent – In case you do not have any living heir or relatives, your whole property would be transferred to the state. If you have someone outside your relatives who you think should be the right person to own your property after you, then it is imperative that you have a will to express your wishes on how your property should be handled. The person you wish to give your property to after your demise would find it a far smoother process to get hold of your estate in the presence of a will.
• Leasehold – A lease is a right which is limited only to the lessee and terminates on his or her death. In case you have made a lease for a long term and advanced the rental, make sure that there is a clause of succession in the contract. Otherwise, anything you would have planned with regards to the leased property could not be possibly carried forward in the case of your unfortunate demise.
• As a foreigner holding property – If you are a foreigner who holds some property in Thailand, it would be wise if you have last wills for those in both your home country and Thailand. Drafting a will in the home country covering the property in Thailand could prove to be a lengthier and a problematic process for your family in such a difficult and unfortunate situation since all the documents would then require translation, notarization and approval by a government body. Hence, it would be wiser to have a separate will in Thailand regarding your property in this country – bank accounts, personal items like vehicles or anything similar – to simplify the process of transfer of property.
• Holding land under the name of a company – If you own land with permanent ownership under some company, it would be transferred to your heirs in the form of shares instead of the actual property. That is, your heir would own shares of the company in the event of your demise. If this is something you do not want, the arrangement of a last will mentioning the management of the ownership of the land is imperative.

Conclusion:

Your demise would most certainly prove to be a shock to your near and dear ones. Therefore it is essential that you plan properly so that they face the least amount of hindrance in leading their lives in your absence.