Will making

[Nabaat]

Antone any ideas/contacts etc for making a Will here in Thailand.

Need to do this so BF doesn't loose the cars, bikes and bank accounts when the day comes.

Cheers

[Nabaat]

Should have asked also about prices etc. have a Lawyer ???? where I live who quotes 10K to do the necessary paperwork.

A lawyer speaking to the Pattaya City Expats Club in September 2008 provided the following information regarding wills in Thailand:

In Thailand, wills do not have to be written in Thai. However, a Thai translation will be required by the courts to process the will. In Thailand, one can make a handwritten will or they can have it prepared by a lawyer. A will made in another country might be valid in Thailand, but one should consult with a Thai lawyer as Thai law governing wills may be different from their own country.

[mahjongguy]

It's important. And the greater the monetary value, the more important it is.

Typical price is 10k to 12k when done by an actual lawyer.

Without a proper Will, your b/f could end up spending much much more than that making his case to the government, your bank, your embassy, your relatives, etc.

[TrongpaiExpat]

р╣НYou might consider an annuity. I have seen quite a few Thai boys come into a sizable inheritance and squander it all in a short time. The pressure from family and friends it more than most Thai boys can manage when they come into money.

Without a proper Will, your b/f could end up spending much much more than that making his case to the government, your bank, your embassy, your relatives, etc.

"Without a proper will" he has nothing - same sex relationships have no validity in Thailand, even if registered overseas. This topic has been covered at length and in detail previously, as a search will show.

[Smiles]

Let's say: I purchase an on-ground townhouse in Thailand. My Thai partner would also be my "business" partner in that he would (legally) fulfill the need to acknowledge 50%-Thai-ownership clause regarding farang owning land.

So, would there even need to be a will for him to become automatically full owner of the townhouse in the event of me kicking the bucket?
I understand the need for a legal Thai will regarding assets above and beyond the townhouse itself, but I was wondering whether it would be necessary in the townhouse part . . . seeing as how he would have 50% ownership anyway?

FYI: none of this scenario has actually happened ... it's just a question for (possibly) future consideration.

[Bob]

Let's say: I purchase an on-ground townhouse in Thailand. My Thai partner would also be my "business" partner in that he would (legally) fulfill the need to acknowledge 50%-Thai-ownership clause regarding farang owning land.

So, would there even need to be a will for him to become automatically full owner of the townhouse in the event of me kicking the bucket?
I understand the need for a legal Thai will regarding assets above and beyond the townhouse itself, but I was wondering whether it would be necessary in the townhouse part . . . seeing as how he would have 50% ownership anyway?


Somewhat of a guess but:
1) I think you're thinking of the corporation deal but I think it's required to be owned 51% by "kon Thai." I don't believe you as a falang can directly own real estate, even a percentage of it (not counting the condo issue).
2) Presuming you're doing the corporation thing, your death wouldn't automatically transfer your percentage to anybody - so, yea, think you'd need a Thai will to do that.

[Smiles]

" ... Somewhat of a guess but:
1) I think you're thinking of the corporation deal but I think it's required to be owned 51% by "kon Thai." I don't believe you as a falang can directly own real estate, even a percentage of it (not counting the condo issue).
2) Presuming you're doing the corporation thing, your death wouldn't automatically transfer your percentage to anybody - so, yea, think you'd need a Thai will to do that ... "
If I can "never own real estate directly" then who would own the other 49%? Buddha?

[mahjongguy]

If I can "never own real estate directly" then who would own the other 49%? Buddha?

The answer to that would be in the Thai company document which was used to purchase the house, but however it is expressed in the charter it would be disasterous not to cover it with an ironclad Thai Will.

As you know, the use of Thai companies to circumvent Thai law regarding foreign ownership came under much closer scrutiny beginning a year ago. Some say that using a company formed before then is "safer" but I have my doubts.

I bought a house last June using the 30-year lease method, but certainly that's not suitable for everyone. We can discuss that offline if you wish.

[Bob]

If I can "never own real estate directly" then who would own the other 49%? Buddha?

Well, Buddha boy, you're missing the point. The corporation would own the real estate and the falang can own up to 49% of the shares of the corporation. Your issue, in that case, is how to transfer your 49% to you-know-who after you croak.

There may be other issues.....can you do it with only 2 shareholders (he and thou) and, if using the corporate form, do you have to report and/or pay something annually, how much cost (tax?) and/or hassle is it for you-know-who to get the 49% transferred to him when you do croak, and what kind of tax (if any) is due if you sell while you're still kicking or if he sells after you're taking a dirt nap. Hell if I know....maybe time to visit Somchai Perry Mason. (I do believe that ThaiVisa or some other forum has some info on all of this that may or may not be helpful).

I've not worried about it yet, thinking I'd end up owning a condo in my name alone and then making a will that transfers it to the perpetrator* after my demise. [*Perpetrator being he who shoves me from the condo balcony some day....]

[Smiles]

If I can "never own real estate directly" then who would own the other 49%? Buddha?

Well, Buddha boy, you're missing the point. The corporation would own the real estate and the falang can own up to 49% of the shares of the corporation. Your issue, in that case, is how to transfer your 49% to you-know-who after you croak.

There may be other issues.....can you do it with only 2 shareholders (he and thou) and, if using the corporate form, do you have to report and/or pay something annually, how much cost (tax?) and/or hassle is it for you-know-who to get the 49% transferred to him when you do croak, and what kind of tax (if any) is due if you sell while you're still kicking or if he sells after you're taking a dirt nap. Hell if I know....maybe time to visit Somchai Perry Mason. (I do believe that ThaiVisa or some other forum has some info on all of this that may or may not be helpful).

I've not worried about it yet, thinking I'd end up owning a condo in my name alone and then making a will that transfers it to the perpetrator* after my demise. [*Perpetrator being he who shoves me from the condo balcony some day....]
I think I'm gonna croak!! :cyclops: :cyclops: :cyclops: :cyclops: