Not having a last will and testament can have several consequences for both the individual and their heirs. Some of the major disadvantages are as follows:
The Thai inheritance law determines the distribution of your estate.
When you die without leaving a Will, you are “intestate.” This means that the government decides how and to whom your inheritance is distributed. Therefore, you have no control over the distribution of your estate. When the law determines who inherits your estate, there is a possibility that they may not be the people you would have selected or anticipated receiving it. If the statutory provisions for dividing your inheritance are followed, it is possible that someone you do not want to inherit from your estate will.
Someone you would never choose may be appointed to manage your estate.
A court application is required to appoint an executor to administer your estate. The laws of inheritance are strict, and the chosen individual may not be your first choice. An executor’s judgments might be personal and potentially unfavorable. Not only may this cause disagreements among beneficiaries, but it can also be stressful for your loved ones. It is vital to create a Will in order to avoid these problems.
Family members may disagree on how assets should be distributed.
In the absence of a written will, family members may dispute how assets should be distributed, leading to conflicts in physical, mental, and legal battles. The untimely passing of a loved one might result in various perspectives on fairness, especially if they were unaware of their loved one’s preferences before death. Family members fighting over the inheritance can strain relationships and cause distress during an already difficult time.
Lack of Specific Instructions
A will provides an opportunity to convey specific wishes regarding the distribution of assets, your preferred final resting place, and other matters. Without these instructions, your loved ones may be left without clear guidance on your preferences.
To avoid these disadvantages, it is recommended to consult a legal professional to create a valid last will and testament for your assets in Thailand. This process is quick, easy, and relatively inexpensive, making it a simpler option than court-solving disputes, especially when there’s conflict. Contact us now to schedule an appointment with our lawyer to create a will.
