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ResourcesThailand Real Estate & Property LawTitleThai Wills: Multiple Beneficiaries and Executor Authority

Thai Wills: Multiple Beneficiaries and Executor Authority

Transcript of the above video: 

As the title of this video suggests, we are discussing Thai Wills and the issue of multiple beneficiaries as opposed to Executors. 

Now it is important to note that beneficiaries of a Will - that is the person who actually inherits something - you leave property, you leave money, a bank account, a house, a car, whatever, you have a Will, you draft the Will it says "hey this is who this needs to go to." The person who receives something could be different from the person who administers or executes - the Executor - of the Will. This can become a little bit confusing sometimes when you are dealing with multiple beneficiaries. Meaning oftentimes what we will see is for example in like spouse to spouse Wills, reciprocal Wills, you'll often see the Executor be named as the beneficiary as well just to sort of streamline everything. In cases involving multiple beneficiaries where there's only one Executor, that can cause a little bit of a buffer if you will, between the person who's inheriting or inheriting some of the property, and the actual execution of the Will itself. Meaning, the Executor has to execute and if they are a different person from the beneficiary, it can move a little bit slower all things considered, than if the beneficiary is a soul beneficiary and a soul Executor; it's just the nature of the thing. 

At the end of the day, if you've got multiple beneficiaries under a Will and you have one Executor, that Executor is probably going to have to take a little bit more time to deal with executing the provisions of the Will compared to when it's a soul beneficiary and that sole beneficiary is also acting as the Executor of a Will here in the Kingdom of Thailand.