Neil ******
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Neil ******
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Neil ******
I recommend having an agreement drafted using a lawyer in your US state of residence and a separate one in Thailand addressing the Thai assets. Thai law does not recognize US revocable trusts and vice versa. The courts don't have jurisdiction over the assets located in another country. I'm a married American lawyer with assets in both countries. Do yourself a favor and don't listen to any non-lawyer or Thai lawyer regarding the US assets.
Neil ******
@Matthew *********
I’m building a villa right now that isn’t in a project so I’ve gone through all stages of this with many considerations, but everyone has different situations. You and I are different people. Good on you to get advice from a lawyer. And if you aren’t satisfied, go see another. Good luck.
Neil ******
@Ally ***********
I’m sorry you took the time to type all that out. OP already said the land would pass to their Thai child and it is a very legitimate concern of a foreigner who wants to ensure he isn’t thrown out of his house if his wife passes. It is especially legitimate where families are concerned. You either have had a jaded life or a lucky one if you don’t think family disputes can create massive problems for people. And, finally, there is always an investment even if it isn’t the land. The structure is an investment so for someone to have a family issue where they can no longer sell a house in order to afford to use for alternative housing expenses, that is a big problem to consider.
Neil ******
@Burnard ***********
there are mechanisms for handling it. If you are in the situation, contact a Thai lawyer. That is how I've set myself up here with property and a will.
Neil ******
@Burnard ***********
I'm a lawyer licensed in the US and I asked my Thai lawyer colleague here about a trust and he said that it does not exist for this purpose. They either use a will or let assets pass through intestate succession.
Neil ******
@Matthew *********
these are really complicated family situations that should involve a lawyer through proper estate planning and property ownership structure. Most of the people who comment in this group have no experience at all with property rights in Thailand.
Neil ******
@Brandon ***********
none of those articles say that the properties are seized. The second article says they are going through the process of making sure the land is reclaimed, i.e., no longer held by foreigners through illegal means using nominees. If you have actual knowledge of someone losing their house and investment, please provide it.
Neil ******
@Graham ******
it’s one of those things people say but nobody has actual knowledge of this happening. I’ve talked to multiple lawyers about this and they have all said the same thing: if this happens, they give you an opportunity to correct it or sell the property. Weird that lawyers have all said the same thing to me on different occasions if not true.