Will trusts from Thailand

[Foxx]

Thai law doesn't allow for any sort of personal trust.  However, I want to leave a sum of money in my will for the benefit of a person of limited mental capacity.  If I were doing this through my UK will I would create a trust with that will.  If I included similar trust wording in a Thai will, would it be recognised/valid? Anyone know?

 

And if not possible, what alternatives are open to me?

 

Thanks

[sometimewoodworker]

2 hours ago, Foxx said:

Thai law doesn't allow for any sort of personal trust.  However, I want to leave a sum of money in my will for the benefit of a person of limited mental capacity.  If I were doing this through my UK will I would create a trust with that will.  If I included similar trust wording in a Thai will, would it be recognised/valid? Anyone know?

 

And if not possible, what alternatives are open to me?

 

Thanks

You already know can’t do anything  like that in Thailand.

Leave it outside Thailand in a trust

[john donson]

no family you can trust that would send some money? but anyway, sticky fingers at every level here

[TheFishman1]

I would consult with  a lawyer that deals in that area of the law TIT

[JBChiangRai]

There is a Thai legal concept known as "Controller of Property".  It's possible to setup something that performs like a trust using this.

 

I suggest you ask a lawyer if he is familiar with this concept, if he isn't, find another.

[jas007]

5 hours ago, sometimewoodworker said:

You already know can’t do anything  like that in Thailand.

Leave it outside Thailand in a trust

One possible problem with that approach:  trustee fees.

 

Usually, trustees have to be paid.  And in these days of low interest rates, trustee fees can be as large or larger than the income generated by the trust.  Of course, this might not be a problem in a family setting if a trustee works for free.

[placnx]

As I understand it, there is a concept that sounds like a guardian. It's called "pipat". The problem is that the court will name such a person, though if you have a local lawyer he might be able to steer this to someone that you trust. As for a trust, the law is based on European law where trusts don't exist, so you could set up a trust in the UK with a responsible family member as trustee (to avoid prohibitive fees). This would limit the incentive for the local court et al to abuse their power to appoint a profiteer.