Best Trusts Lawyers in Surat Thani

About Trusts Law in Surat Thani, Thailand:

Trusts in Surat Thani, Thailand, are governed by the Trust for Transactions in Intangible Assets Act B.E. 2550 (2007). A trust is a legal arrangement where a trustee holds assets on behalf of beneficiaries as per the terms specified in the trust deed.

Why You May Need a Lawyer:

You may require a lawyer for setting up a trust, drafting a trust deed, understanding your rights and obligations as a trustee, resolving disputes related to trusts, or seeking legal advice on trust matters.

Local Laws Overview:

In Surat Thani, Thailand, trusts are regulated by the Trust for Transactions in Intangible Assets Act B.E. 2550 (2007). Trustees have fiduciary duties to act in the best interests of beneficiaries, and breaches of these duties can lead to legal consequences.

Frequently Asked Questions:

1. What is a trust?

A trust is a legal arrangement where a trustee holds assets on behalf of beneficiaries according to the terms specified in the trust deed.

2. Who can create a trust in Surat Thani, Thailand?

Any competent person over the age of 20 can create a trust in Surat Thani, Thailand.

3. What are the key roles in a trust?

The key roles in a trust are the settlor (who creates the trust), trustee (who manages the trust assets), and beneficiaries (who benefit from the trust assets).

4. Can a trust be revoked or amended?

Depending on the terms of the trust deed, a trust may be revocable or irrevocable. Revocable trusts can be revoked or amended by the settlor.

5. How can disputes related to trusts be resolved?

Disputes related to trusts can be resolved through negotiation, mediation, or in court if necessary. It is advisable to seek legal advice in such situations.

6. What are the tax implications of trusts in Surat Thani, Thailand?

Trusts may have tax implications, and it is recommended to consult with a tax professional or lawyer to understand the tax implications of trusts in Surat Thani, Thailand.

7. Can a trust protect assets from creditors?

In some cases, a properly structured trust may offer protection of assets from creditors, but the effectiveness may vary depending on the circumstances.

8. Can a foreigner create a trust in Surat Thani, Thailand?

Yes, a foreigner can create a trust in Surat Thani, Thailand, subject to compliance with the relevant laws and regulations.

9. What happens if a trustee breaches their duties?

If a trustee breaches their fiduciary duties, they may be liable for legal action, removal from the trust, and financial penalties.

10. How can I find a trust lawyer in Surat Thani, Thailand?

You can search online, ask for recommendations from friends or family, or contact the Surat Thani Bar Association for a list of qualified trust lawyers.

Additional Resources:

For more information on trusts in Surat Thani, Thailand, you can visit the Department of Lands or the Department of Business Development for guidance and resources related to trusts.

Next Steps:

If you require legal assistance with trusts in Surat Thani, Thailand, it is recommended to consult with a qualified trust lawyer who can provide you with personalized advice and guidance based on your specific situation.