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Is Now a Good Time to Review Your Estate Planning?

By admin_thai on April 23, 2020 in Living In Thailand
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Although dying is never a subject that anyone wants to think about or indeed talk about, making plans for those that you love after your passing is vital. If you live in Thailand and you have a Thai wife or long-term Thai girlfriend, you will want to ensure that they are financially looked after. In many cases, partners are often several years younger, so ensuring that they are secure takes plenty of planning.

Last Will and Testament

Having a Will is essential as it ensures that your estate is left to the people that you want and not decided by the government, or worst still left to the government. You will need two Wills, one for your UK assets and one for your Thai assets. The Thai Will is required to be registered at the Amphur to make it legally valid.

Trusts

Putting your assets into a trust is always a sensible idea. It will mean that your Thai partner receives a steady income rather than a huge lump sum which she may be unable to manage properly. The trust should be set up by an expert who specialises in trusts – not something that all financial advisors are qualified to do.

UK Assets

If your Thai wife has lived with you in the UK on a UK Spouse Visa previously, she may automatically receive your assets through marriage if you don’t have a Will. Once again, this may be something that you want to review to ensure that your nearest and dearest get what they deserve. The last thing that you want after your passing is for your Will to be contested.

Thai Visa Express

Here at Thai Visa Express, we are a team of professional immigration consultants who can assist you with your UK visa application. We have over 15 years of experience dealing with UK visas & immigration daily, and we are regulated by the Office of Immigration Services Commissioner (OISC) in the UK. We offer a free 30-minute consultation from one of our designated caseworkers, contact us today.

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