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ResourcesThailand Real Estate & Property LawTitleWill Drafting: Multiple Executors and a Single Heir?

Will Drafting: Multiple Executors and a Single Heir?

Transcript of the above video: 

As the title of this video suggests, we are discussing Will drafting here in Thailand, specifically discussing the issue of executors and heirs. As we have discussed in other videos, heirs are beneficiaries or people that stand to benefit from an estate, executors are people tasked with basically executing the instructions of the deceased regarding the estate. 

The question posed by this video is what happens if there are like multiple executors and just one heir? Is that possible? It is kind of, my grandfather used to say, "too many chiefs, not enough Indians" kind of thing. The thinking was like there are a bunch of people that are “running” things and then like people that are “benefiting”. The point I am trying to make with this video is there are circumstances where I can see more than even two executors on an estate where there is a single heir. Why would this be? Well you can have really specialized assets: financial assets that an expert needs to understand, real estate assets that may be in other jurisdictions that aren't Thailand, that would require the assistance of somebody on the ground in that jurisdiction and you may need multiple executors for both. You could need multiple executors due to effectively issues involving geography. Again, a Will could speak to assets that are outside of Thailand. Generally speaking, we try not to draft such instruments that way but there are circumstances where it just falls that way. That being said, and more to the point, it is sort of like subject matter, for example specialized real estate in another jurisdiction, or very specialized real estate in another jurisdiction would be geographic. That said, subject matter would be something like really complex financial instruments. If you are an American guy, you are invested big, you pass away here and you have for example a Thai spouse who may not be particularly sophisticated with the American markets. That's a very good reason to have a specialized executor under those circumstances. 

So the point I am trying to make is, as counterintuitive as it might sound to have more than one executor for a Will that only has one beneficiary, depending on the circumstances, it might be necessary.