Transcript of the above video: 

As the title of this video suggests, we are discussing, what do Bank Accounts and Condominiums have in common when it comes to estate planning in Thailand? Well the big thing they have in common is the fact that if you have either or both, it's a very good idea to have a Will in Thailand. 

What are we talking about here? Well first of all understand, there's no Trust type of mechanism in Thailand. Thailand is a Civil Law jurisdiction and it's a Civil Law jurisdiction sort of very unique insofar as it is a Civil Law jurisdiction that designed its own sort of legal framework. Thailand as a practical matter does not recognize Trust instruments; there's no bifurcation between legal and equitable Title effectively under Thai Law. So that's one thing to understand, you can't place things in Trust, so a Will is really the best way to deal with bequeathing things to someone or persons when one passes away. 

The most common assets held by foreigners here in Thailand who may want to do estate planning and may need a Will, the most common assets are condos and bank accounts. That's primarily almost every time, that's almost always what we see with regard to drafting Wills here in our office. So as far as this video goes, that's what they have in common, is if you want to make sure those things - the money in your bank account, and the title to your condominium - which by the way foreign nationals, notwithstanding the restrictions on foreign ownership of Thai land, foreigners can own condos in Thailand pursuant to the Condominium Act of I believe 1991 as amended, or 2001, I can't remember off the top of my head now. That being said, foreign Nationals can own condominiums in Thailand in what we would call Fee Simple Absolute in the American vernacular, or Freehold in a more Westminster sort of Common Law vernacular but they can have title, they can own the condo.

For that reason, if you want to bequeath that to a specific heir in the event of one's passing, you can write a Will to that effect, and that is really the best, most optimal instrument for estate planning here in the Kingdom of Thailand.