Transcript of the above video:

As the title of this video suggests, we are discussing estate planning in Thailand, specifically discussing the topic of Wills and Taxes. The issue of tax has been something that seems to be worrying a lot of expats here especially with the announcement of the rescission of one of the rules pertaining to the timing of bringing in money into Thailand, as we have discussed in many other videos; I am not going to do a deep dive into that in this video. But long story short, in the past or I should say prior to January 1, 2024, it is possible to essentially mitigate certain tax liabilities by essentially timing the bringing in of money to Thailand in such a way that assessed liability cannot happen. They are rescinding the current rule on that so it is resulting in effectively Thailand's sort of tax situation coming into alignment with basically every other country on the planet. But many people are worried about this, in my opinion unduly so, because again there is not this ability to sort of bring in money at a later date and just having no accessible liability at all; they are changing that.

Again I think the vast majority people aren't going to be adversely impacted by this but one question that is posed by many when we discuss Wills and Estates with them is what kind of tax liability are we looking at? Now, not to sound like a broken record but obviously that is going to depend on the specific circumstances in the given case but note where there are like property transfers here in Thailand associated with a death, there may be certain transfer taxes associated with transferring property from the deceased to one of their proposed beneficiaries pursuant to their Will. That is definitely one possibility for tax liability. Also, if there is any accrued sort of capital gains associated with someone's assets here in Thailand, there may be some tax liability associated with the estate or with the assets in the estate here as well. 

Again it's all going to be very much circumstantially dependent. For those who kind of feel a little bit overwhelmed about these issues, it may not be a terrible idea to contact a legal professional, gain some insight and guidance into how best to proceed.