You can understand the last will and testaments in Thailand. The living will has become very popular in Thailand, and is very common after accidents in the country. This allows you to designate people over your properties in the event of death or mental incapacity.You can also state in your will that if you become very ill, you should not be resuscitated. However, this must comply with the Ministerial Regulations adopted in 2010 as recognized in the Thai Law.
Last Will and Testaments in Thailand
Mortality is the best gift in human reality, but most of the times it is overlooked. As we all know, we are all going to pass this world sooner or later, but we seem to be convinced that such thing will come much later rather than sooner. Oftentimes, we try to ignore the importance of our very existence. The negative feeling about will-making is the fact that it reminds us that we will be leaving this world soon, and also of how little or how much we have achieved in our life. It’s like an autobiography consisting of possessions and beneficiaries. And it will be a necessity to be prepared. Read further on the last will and testaments in Thailand.
Will-making is an imperative plan for the settlement of your estate in advance, to assure that everything is in order when the time comes. This is also the best way to ensure that the legacy of your perseverance will be given accordingly to your loved ones. This is deemed necessary to foreigners who have properties abroad, which is evident in Thailand where a growing number of foreigners choose to retire and make it their second home.
Last Will and Testaments Advice
In some instances, it is strongly advised to prepare the Last Will and Testament in both home country and Thailand. This is somewhat necessary because different jurisdictions usually need varying formalities in the Last Will and Testaments. Having one drafted in your home country covering properties in Thailand might be difficult and complicated for your family. This as they need to have your documentations translated, notarized and approved by the Thai government.
Furthermore, the managing of assets and properties in Thailand through a Thai Last Will and Testament. This is more practical and convenient. This will enumerate specifically all your assets in Thailand. Such as your properties, your savings and business bank accounts, your vehicles if any, and also all your personal items. And once Thai will finalised, Thai Law does not need verification of the Will before it can be implemented.
There would be possibilities of difficulty that might happen to your assets. This if you are unaware of your legal rights in Thailand. The process may cause complications and be lengthy at times.