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The law of Wills and Testaments in Phuket, and generally in Thailand, is something that residents and foreigners should not take for granted. In accordance with Thai Law, anyone over 15 years old has the authority to create a Last Will & Testament. This provision gives one the chance to decide how, and to whom, their assets should be distributed after their death. This type of law falls within the ambit of the Thai Civil and Commercial Code.
When drafting a Will in Phuket, one may need a lawyer to ensure that it is legally binding. Having a lawyer will also help in tailoring the document to your needs, confirming that all necessary stipulations have been included and state requirements have been met. Whether the property in question is tangible or intangible, a lawyer will help in ensuring that disputes among descendants are minimized. Lawyers can also assist in settling any debts left behind, as well as dealing with tax issues that may arise from the distribution of the property.
Thailand law accepts written Wills, public Wills, and secrets Wills. It describes a written Will as one authored by the testator themselves or by someone else on their behalf and signed by the testator in the presence of two witnesses. A public Will is one prepared by a Notary Public in the presence of two witnesses, while secret Wills are placed in a sealed envelope and handed to an official or authorized person. A Thai Will only has influence over assets located in Thailand. Inclusion of assets outside Thailand is only permissible if it does not contravene the laws of the respective countries where the assets are located.
1. Can a foreigner make a Will in Phuket? Yes, foreigners are allowed to create a Will in Thailand for their assets within the country.
2. What happens if a person dies without a Will? If a person dies without a Will, Thai law pronounces who gets the assets of the deceased and in what portions.
3. Can a Will be altered after it has been written? Yes, a Will can be modified at any time by the testator during their lifetime.
4. Is inheritance tax applicable in Thailand? Yes, Inheritance tax is applicable but only for estates worth over 100 million baht.
5. Can I include my foreign located assets in a Thai Will? While this is technically possible, the inclusion should not breach the laws of the foreign country where the assets are located. It also may not be recognized in those countries hence having a separate Will for each jurisdiction is advisable.
For additional information, one may refer to 'The Civil and Commercial Code of Thailand', available in English. Furthermore, everyone in Thailand has access to public libraries where they can find several authoritative books on the subject. The Thai Government's website also provides plenty of helpful information.
If you need legal help in drafting a Will in Thailand, consider setting up an initial consultation with a local lawyer who specializes in this area. Ensure to keep all pertinent documents handy. Moreover, provide an accurate and complete list of your properties and assets in Thailand to facilitate the process.
