Drawing up a last will and testament seem to be a straightforward process. On a certain perspective, preparing one is as simple as formulating a draft of a thesis a paper and then submit it when the deadline comes.
On another viewpoint, it is a piece of document that really has the potential to make or even break a family, depending on how the last will and testament is done, on the terms and conditions used and where it has been drafted for execution.
When you transfer and make Thailand your new home, there is always a potential that you will be able to procure assets for you and your family, especially if you will be staying for a long time.
Prior to your transfer in the Kingdom, you may already have drawn-up your last will and testament in your country. Will the document pose any problems for you? Well, not really if the assets listed in your will is located in the country where you executed it.
However, problems may arise when:
- You have drawn up a last will and testament in another country for your assets in Thailand.
- Accuracy of translation of the terminologies and other key parts of your will is questionable.
- A lengthy and costly court proceeding is needed to make your will acceptable and executable in Thailand.
The Last Will and Testament is drawn-up in another country
Generally, if supplemented with a last will and testament that is drawn up in Thailand, executing your will that was formulated outside of Thailand should pose no potential problems. It will still be enforceable in the Kingdom.
Problems may arise when the process in making it acceptable in Thailand is set in motion.
A last will and testament needs to be in detail and not all terminologies used to describe each asset have an accurate translation from your mother tongue to Thai.
Also, after the translation process, your outside of Thailand-drawn up will and testament will become a subject in a court proceeding.
If your immediate family or the people who will be recipients of your assets are located within Thailand, travel costs will be minimal. But, if they are located outside of Thailand, traveling to the Kingdom for a number of court hearings entails huge financial and physical burden on their part.
Court hearings tackling on a last will and testament case normally takes a number of months before a decision is made making the whole process lengthy and costly for everyone involved.
The Best Option
While your last will and testament that is drawn-up outside of Thailand is enforceable within the Kingdom, it is not the ideal venue that you must take to distribute your assets.
What is more efficient is for you to draw-up an equivalent last will and testament in Thailand because aside from saving time and effort, inheritance tax will not be imposed anymore thereby saving your inheritors some money.
Surely, you will be enlisting the help of a lawyer in Thailand as you make a draft of your last will and testament but you have to remember that not every law practitioner in the Kingdom are good in both English and Thai.
Therefore, it is much better if you can find a lawyer who is fluent in both languages as terms will be translated more accurately.