Many times I get a call asking how much is a Will or I have written my own and can you take a look at it.
Yes I can and I do. From my experience, I see many things that the Judge at the Probate hearing will question me or the Executor on. Many people say well I have a Will in my country and so that is enough or I don’t have anything and so what does it matter. Or let someone else take care of it as I will be dead.
Are you dying tomorrow or in the next 20 years, as the Will is “at the time”
Most people (Testators) don’t understand that the Will is written today and may last for 20 or more years. During that time, your life will change. Your assets may grow or you may be left something through someone else’s Will or you may get married and have children. Don’t laugh as I know several guys that retired in Thailand, found a new lease in life and a new spark and started a family. You may become senile, suffer a stroke or heart attack, Alzheimer’s, Parkinson’s, or an accident, that leaves you incompetent. Therefore, when making a Will it should be written to cover existing and future assets and people. It states at the time that you were competent and is good enough for the courts.
Thai language in the Will
If you live in Thailand then you know that things can get lost in translation very easily. A well written Will can save many issues, time and money later on. Thai888 Law has excellent translators on staff, that will translate the Will into Thai, send you a copy in Thai and English so that you understand the last contract you will ever be involved with. You can read this, understand it and sign it in front of our legal staff, with proof that you are competent to enter into this contract. This makes it hard to contest.
Children and their future under inheritance
Children are protected under the law. However, making your child an heir to your assets is prudent of you, in wanting to protect their future life possibly without you. However, the children need to be protected by a controller of property until they are 20, then they can manage their own affairs and finances. The controller is usually the mother, and in some cases not the best choice, as they have no experience in managing your estate and your childs legacy. Therefore we offer Thai888 Foundation as the controller of property to safeguard the assets and your children’s future.
Thai888 Foundation
came about as in many cases where I handle probate or in writing the Will the Testator (you) wishes to safeguard the asset to look after the Childs schooling, food, housing, etc. and the Foundation can do this if you leave the assets in your Will to Thai888 Foundation or make a donation before you pass away. There are no trusts in Thailand available to us and so this is the next best asset protecting vehicle, until your child reach the age of 20 then they can inherit the balance. The Foundation is fully Government checked and is monthly accountable and audited every 12 months. There is a board of directors (3) to keep the Foundation running ethically, morally and accountable. There is one Australian Director Kelvin Bamfield that has lived in Thailand 24 years and is a founding member of Thai888 Law, Abroad Funerals Thailand and Thai888 Foundation. Kelvin has extensive experience in both local and international Law and Probate Law in particular and considers Thailand to be his home. Kelvin can call upon the many legal staff to solve any issue and litigate any matter in court.
Old Age and who will look after you
Many clients worry about when they get old who is going to take care of them and in an honest professional way. When one’s memory fades and someone says I will look after you, well, in some cases this doesn’t last long, as the money runs out fast, as its not manage properly. Parkinson’s or Alzheimer’s is a slow creeping decease and forgetting PIN numbers, account logins, user names is all part of getting old. In many cases this personal information is given to someone and this is not always a good thing, as you might forget and then the next thing all your savings are gone. Thai888 Foundation can assist you in this matter and can secure you now and in your future. Don’t forget you are a foreigner in another country and whatever family you have left, may not care to look after you in your old age. email [email protected] as we can help.
Donate to Thai888 fondation
many people when making their Wills leave a % to the Thai888 Foundation. However, should you want to assist others whilst you are still alive, then you can legally donate some money to us now. This helps with our minimal overheads, to helps others, and is good karma for you. Many of my clients already donate to the larger charities and thank you for this. However, these large charities have many overheads and this is opposed to Thai888 Foundation thinking. All of our donations go to our 3 member board for allocation to those that will go on to making themselves and their families lives better. It is seed money donations to make the Thai families become self sufficient. This is in keeping with the thoughts and plans of the late great Rama 9 King of Thailand. Self sufficiency was one of his pet projects, and he wrote many books on this philosophy. In a small way we are keeping in line with these teachings. https://thai369.com/en/the-ro-sustainable-development-is-thailand/
Self Sufficiency & Thai888 Foundation
For example, King Rama 9 recommends that each farmer divide his farm into four, with 30 % dedicated to growing rice, primarily for family consumption, with the surplus to be marketed, 30 % dedicated to building a water reserve to be able to meet agricultural needs even in the event of drought, 30 % dedicated to food crops, vegetable garden, fruit trees, but also breeding of chickens, ducks, cows and buffaloes, both for the family’s food and the production of natural fertilizers for the crops and finally 10 % for housing and access to the farm. Thus, he gives a very practical and accessible illustration of his theory.
This method of charity allows the Thai people to not exist on a hand out, but rather be productive and have self worth and pride.
Conclusion
Thai888 Foundation does not simply hand out money and move on. We seed small farms to give the local Thai people the first few steps up and a head start in building a small producing farm. That produce goes to market and is then reinvested back into the farm. Each cycle the farms output increase and lifts the welfare of the farm owners until they become self sufficient. This should take 6 to 12 months.
Expat foreigners in Thailand should they choose to invest in their future and health, can be looked after by the Foundation. And when they are in their final days of life we can make sure their Will and wishes are in place. Thai888 Law, Abroad Funerals Thailand, Thai888 Foundation can do as promised, as we have proved it over the years and have won the top awards in 2021, 2022, 2023 for our services. Why would you consider any other companies to look after you, when we can manage everything under our watchful eye?
Many foreigners have young families in Thailand and Thai888 Foundation can safe guard their assets until they are 20. Your assets are preserved by us and we manage their deliver to your Beneficiaries when needed. Whether this is cost of living, education, school fees and costs, it doesn’t matter as we administer all through the Foundation.
There are many other ways the Foundation can assist and if you have a special circumstance please contact us with your questions.
