The professionals at Silk Legal understand the challenges of advising clients who own property around the world. Estate planning becomes particularly difficult when the laws of different jurisdictions are taken into consideration. Thailand, in particular, poses many obstacles for estate planners; its legal system does not have ready equivalents for certain Western legal concepts such as the trust, and it contains several idiosyncratic regulations that serve to complicate estate planning even further. Matters that may be simple in one jurisdiction, such as transfer of real estate by a last will and testament, can be quite complicated when executed here. Additional difficulties arise from the requirement that last wills and testaments and other fundamentally important documents, which may have originally been drafted in English, be probated in Thai, which have the potential to cause the intentions of the client to be misinterpreted.
The team at Silk Legal, which includes lawyers trained in both foreign and Thai law, are not only expert advisers, but are also well-prepared to design the best estate planning vehicles within the framework of the Thai legal system and to ensure harmony with our clients’ estate planning structures set in place in other jurisdictions.
Additionally, Thailand has recently enacted a new inheritance and gift tax. Silk Legal is ready to advise clients regarding the implications of the new laws and to reevaluate estate planning vehicles on behalf of our clients in order to ensure a tax-optimal solution in obtaining their estate planning goals.