Best Trusts Lawyers in Bueng Kum

About Trusts Law in Bueng Kum, Thailand

Bueng Kum is a district of Bangkok, and the rules that apply to trusts here are the same as those that apply across Thailand. Under Thai law, traditional private or family trusts commonly used in common law countries are generally not recognized. Thailand allows trusts only in a narrow, regulated context under the Trust for Transactions in Capital Market Act. These capital market trusts are used for investment structures such as real estate investment trusts and securitizations, and they are supervised by the Securities and Exchange Commission of Thailand. Outside this capital market context, individuals usually cannot create a trust to hold Thai property for private estate planning or asset protection purposes.

Because private trusts are largely unavailable, people planning their affairs in Bueng Kum typically look to other tools under Thai law, such as properly drafted Thai wills, marital property agreements, life insurance and beneficiary designations, usufructs and long leases over immovable property, mortgages and pledges, foundations or associations for charitable aims, and company or partnership structures where appropriate and compliant with foreign ownership rules. Each option has specific requirements and implications, so careful local legal advice is essential.

Why You May Need a Lawyer

You may benefit from a lawyer with Thai private client and corporate experience if any of the following apply. You are considering creating a trust abroad and want to know whether Thai courts or agencies will recognize it for Thai assets. You need an estate plan for Thai property, bank accounts, or business interests and need a Thai will that aligns with a foreign will. You are a foreigner exploring asset holding options in Thailand and want to avoid prohibited nominee arrangements and comply with the Foreign Business Act and the Land Code. You want to secure rights of use for a spouse or child through a usufruct, lease, or right of habitation. You are naming beneficiaries on insurance or investment accounts and want the designations to work with your will. You are dealing with probate in Thailand for a deceased person who left assets in Bangkok, including Bueng Kum, and need court appointments and asset transfers. You are evaluating whether a Thai foundation or association could meet goals that a trust would meet elsewhere. You hold units in a capital market trust such as a REIT and need advice on trustee duties, disclosure, or taxation. You have cross border assets and need advice on conflict of laws, recognition of foreign judgments, notarization, and legalization or apostille of documents.

Local Laws Overview

Trusts recognition. The Thai Civil and Commercial Code does not generally recognize private trusts. The principal exception is the Trust for Transactions in Capital Market Act, which permits trusts specifically for capital market transactions under the supervision of the Securities and Exchange Commission. Only licensed trustees may act, and the trust deed must comply with SEC rules. Individuals cannot use this regime to create personal family trusts for non capital market assets.

Estate planning and succession. Thai wills must meet formalities set out in the Civil and Commercial Code. A standard will is signed before two witnesses who sign at the same time. A handwritten will is permitted if written, dated, and signed entirely by the testator. Thailand does not use common law trust concepts in probate. The court may appoint an estate administrator. If there is no will, intestacy rules in the Civil and Commercial Code determine heirs and shares.

Property and land. The Land Code restricts foreign ownership of land. Structures for use or control of immovable property commonly include long leases, usufructs, superficies, and mortgages, each with registration requirements at the Land Office. Attempts to simulate ownership through nominees are unlawful and carry penalties.

Corporate and nonprofit vehicles. For objectives that elsewhere might be served by a trust, Thai law provides for companies, partnerships, associations, and foundations. Foundations and associations must be registered and supervised by authorities designated by the Ministry of Interior. These entities have ongoing governance and reporting obligations.

Tax considerations. Thailand imposes taxes relevant to wealth transfers and investment income, including inheritance tax above statutory thresholds, gift tax under the Revenue Code in specified circumstances, and stamp duty or specific business tax on certain transactions. Capital market trusts and REITs have specific tax and withholding frameworks. Personalized tax analysis is often necessary.

Cross border recognition. Thai agencies and courts generally apply Thai law to Thai assets. Foreign trusts created under foreign law may not be effective to transfer Thai immovable property or override Thai succession rules. Foreign documents for use in Thailand may require notarization and legalization or an apostille, depending on the issuing country and current Thai practice.

Local administration. For civil registrations such as deaths, marriages, and domicile certificates that can affect estate procedures, residents of Bueng Kum work with the Bueng Kum District Office under the Bangkok Metropolitan Administration. Court proceedings related to probate typically occur in the Bangkok courts with jurisdiction over the estate.

Frequently Asked Questions

Are private family trusts recognized in Thailand?

No. Thailand generally does not recognize private family trusts under the Civil and Commercial Code. Trusts are permitted only in narrowly defined capital market transactions regulated by the Securities and Exchange Commission.

Can I put my Thai house into a foreign trust?

Not effectively. Transfers of Thai immovable property into a foreign trust will not be recognized by Thai land authorities, and foreign land ownership is restricted by the Land Code. Alternatives may include a registered long lease, usufruct, or superficies, depending on your circumstances.

What are common alternatives to a trust for estate planning in Thailand?

Common tools include a Thai will that coordinates with any foreign will, beneficiary designations on insurance and certain financial accounts, usufructs or leases for lifetime use of property, company structures that comply with foreign ownership rules, and charitable foundations or associations if appropriate.

Will a Thai court honor a trust created in another country?

Thai courts generally apply Thai law to Thai assets. A foreign trust may be recognized with respect to foreign assets, but it will not usually control Thai immovable property or override Thai forced heirship or succession provisions applicable under Thai law.

Can I create a trust for investment purposes in Thailand?

Only within the capital market trust framework. Capital market trusts such as REITs are established and supervised under the Trust for Transactions in Capital Market Act, with licensed trustees and SEC oversight. This regime is not available for private estate planning.

How do I ensure my Thai and foreign wills do not conflict?

Work with lawyers in Thailand and in the relevant foreign jurisdiction to draft complementary wills. Each will should clearly state its governing law and scope of assets, include consistent executor or administrator appointments, and avoid revoking the other will unintentionally.

What taxes might affect gifts and inheritances in Thailand?

Thailand has inheritance tax above statutory thresholds, and certain gifts are subject to tax under the Revenue Code. Tax rates and exemptions depend on the relationship of the parties and the nature of the asset. There may also be withholding tax or stamp duty on specific transactions. Obtain tailored tax advice before executing transfers.

Can I use a Thai foundation instead of a trust?

Possibly, if your objectives align with what Thai law permits. Foundations and associations are available for specified purposes and must be registered and supervised. They are not a direct substitute for private discretionary family trusts, but in some cases they can support philanthropic or legacy goals.

How are bank accounts and insurance proceeds handled on death?

Many Thai banks and insurers allow beneficiary designations or payable on death instructions, which can pass assets outside formal probate. The effectiveness and documentation required vary by institution. Coordinating these designations with your will helps prevent conflicts.

Which local office in Bueng Kum can help with registrations relevant to estates?

The Bueng Kum District Office under the Bangkok Metropolitan Administration handles civil registrations such as death certificates and domicile records that are often needed for probate filings. Courts handle the appointment of estate administrators and orders for asset distribution.

Additional Resources

Securities and Exchange Commission of Thailand for rules on capital market trusts and REITs. Ministry of Finance for financial sector regulations and related notifications. Revenue Department for inheritance tax, gift tax, and personal income tax guidance. Department of Lands for land ownership, leases, usufructs, and registrations. Department of Business Development for company and partnership registrations and compliance. Ministry of Interior authorities responsible for registration and oversight of foundations and associations. Lawyers Council of Thailand for lawyer credentials and professional conduct. Bangkok Metropolitan Administration and the Bueng Kum District Office for civil registrations and local administrative services. Thai courts in Bangkok for probate and estate administration matters.

Next Steps

Clarify your goals. Decide what you want to achieve in Thailand, such as protecting a spouse, providing for minors, managing property use, or planning for business continuity. Inventory your assets in Thailand and abroad, including real estate, company shares, bank and investment accounts, and insurance policies.

Consult a qualified Thai lawyer. Seek counsel experienced in private client work, property, and, if relevant, capital markets. If you have foreign elements, engage coordinated counsel in the other jurisdiction to align strategies.

Bring key documents. Prepare identification, marriage or divorce records, any existing wills, title deeds, company papers, account statements, and insurance policies. If documents are from abroad, ask about notarization and whether legalization or an apostille is required for use in Thailand.

Choose suitable legal tools. Based on advice, implement a Thai will, beneficiary designations, usufructs or leases, company governance updates, or nonprofit structures as appropriate. Ensure documents are signed and, where required, registered with the correct authority.

Plan for administration. Identify executors or estate administrators, guardians for minors, and sign any powers of attorney needed for filings. Discuss timelines, court procedures, translations, and certified copies.

Review taxes and compliance. Obtain written tax advice on inheritance, gifts, and income. Confirm compliance with the Land Code, the Foreign Business Act, and any sector specific rules.

Maintain and update. Revisit your plan after major life events or legal changes. Keep copies of registrations and court orders, and inform trusted family members where documents are stored.

This guide provides general information only and is not legal advice. For advice tailored to your situation in Bueng Kum, consult a licensed Thai lawyer.