Thai Will

What Happens Upon Your Demise? This is certainly not something we would
like to think about but it is important to have good estate planning to ensure
your loved ones are taken care of should you finally pass away. If there is no
Thai will, the intestate's assets must be distributed in accordance with the
classes of relations as stipulated in the CCC Article 1629 which are, in order
of priority:

(1) descendants;

(2) parents;

(3) brothers and sisters of full blood;

(4) brothers and sisters of half blood;

(5) grandfathers and grandmothers;

(6) uncles and aunts. Before any distribution of the estate to the relatives,
half of the estate, known as Sin Somros, will belong to the spouse, if any.

The rest will be equally distributed accordingly. If there are no living relations
and no Thai will, the estate will devolve on to the State. As such, we do
strongly recommend making a Thai Will to cover all of your properties and
assets in Thailand. For those who own land under a company on a freehold
basis, upon your demise your property would not simply be passed on to your
heirs. Instead, it would be passed on in the form of shares. In the other
words, your heir will receive shares of the company as opposed to the actual
property itself which can involve complex legal mechanisms. It is therefore
imperative that you arrange for the drafting of a Thai will.

For those who acquired a property under a leasehold structure, it is worth
mentioning that a lease is a personal right which is not attached to the
property per se and essentially terminates when the lessee dies. Therefore,
if you make a renewable long term lease and have already paid the rental in
advance, you should also ensure that there is a succession clause in the
lease contract so as to allow you to transfer your right of the lease to your
heir. Nevertheless, you should still have a Thai Will which states your clear
intention to pass on such rights to your loved ones.