Protection Of Property And Things From Family Or Others

[WilliamCave]

Hi

I will try give a little understanding about were i am coming from,

I have realistate in thailand now , consists of 5 rai in the south with a house , land in Chonk kong , big house in bkk and am going to buy another shop house to start a business from.

I have to kids in thailand one born in canada one child born in thailand both with dual citizenship.

I am still to young to retire so i will still have to leave thailand for work, i work for an oli company.

i am not worried about my wife leaving me and taking things it could happen in any country hehe.

My concern is that i am investing in thailand for my rertirement and for my kids future.

If something ever happened to my wife what would happen to all the investements i am making in thailand?

Worries me some times because i am out of thailand working if something ever happened my kids could call me direct anywere that i am.

.

My big concern is some of her family cousins and distant relatives and a brother ,,,i am not worried about 90 % of her family they are good people and have never asked me for anything.

but i am worried that if something happened i am sure i would return to find them living in my house and removing things i have nothing good to say about certain members of her family..

My wife and i talked about this and are looking for a way to protect things for our family if something was to happen to her,

Can i be the trustee to the estate until my kids are older any info would be helpful

And i am sure about my kids under most countries law i am the father and no one can touch them or try clam them is this correct in thailand also?

sorry if some things are not explaned good hope you understanjd were i am coming from, thanks in advance

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[Darrel]

"I have realistate in thailand now , consists of 5 rai in the south with a house , land in Chonk kong , big house in bkk and am going to buy another shop house to start a business from.

My concern is that i am investing in thailand for my rertirement ..... "

So as an investment for your retirement you have bought 4 lots of land that you cant legally own in a country in which you have no right of abode or right to work?

[WilliamCave]

"I have realistate in thailand now , consists of 5 rai in the south with a house , land in Chonk kong , big house in bkk and am going to buy another shop house to start a business from.

My concern is that i am investing in thailand for my rertirement ..... "

So as an investment for your retirement you have bought 4 lots of land that you cant legally own in a country in which you have no right of abode or right to work?

These investements are for my kids future so they will have something , i am thinking of my kids and so is my wife thinking of the kids future to give them a good start in life.

[Darrel]

These investements are for my kids future so they will have something , i am thinking of my kids and so is my wife thinking of the kids future to give them a good start in life.

You initially mentioned your retirement, twice. So I think you need to make your mind up whether these are investments for you or for your children.

If they really are for your children then perhaps you could just buy them in their names, thus cutting out all the middle-men?

[meatboy]

if your worried about your so called investments why do you keep on buying,who's name are they in?if what you say is true the relatives will definately come into play one way or another.get rid of all assets and put the money offshore in trust for your kids,end of story.

[GuestHouse]

Firstly there is no trust law in Thailand, so you can't set up trusts for your children within Thailand.

The usual approach is to place property in the names of children, but I have seen a number of cases where that has lasted only a matter of months after the Farang leaves the scene - court orders moving the control of the property in the hands of the mother, or in one I case the ex ex Thai husband of the mother.

As Darryl questions, for you or your kids.

My advice is don't buy any more land or property in Thailand, and place all your pension savings outside of Thailand so it is in your control.

You need to think about how you want your wealth to be distributed in the event of your death. If your pensions and savings are outside of Thailand you can use Trust Law to manage this.

I would not give cash or lump sums, rather give income, and if your children are still of school age, place clauses in your Will (the one outside of Thailand) that tie the income received to your children attending school/college.

Lump sums will ruing lives, be spent in the blink of an eye and leave your kids with nothing for the future - Plan and make your plan outside of Thailand.

[meatboy]

Firstly there is no trust law in Thailand, so you can't set up trusts for your children within Thailand.

The usual approach is to place property in the names of children, but I have seen a number of cases where that has lasted only a matter of months after the Farang leaves the scene - court orders moving the control of the property in the hands of the mother, or in one I case the ex ex Thai husband of the mother.

As Darryl questions, for you or your kids.

My advice is don't buy any more land or property in Thailand, and place all your pension savings outside of Thailand so it is in your control.

You need to think about how you want your wealth to be distributed in the event of your death. If your pensions and savings are outside of Thailand you can use Trust Law to manage this.

I would not give cash or lump sums, rather give income, and if your children are still of school age, place clauses in your Will (the one outside of Thailand) that tie the income received to your children attending school/college.

Lump sums will ruing lives, be spent in the blink of an eye and leave your kids with nothing for the future - Plan and make your plan outside of Thailand.

take in what you have been told so far or do you know it all.

[McMagus]

I refuse to invest in Thailand more than I could lose and still be able to get a good night's sleep. I have heard horror stories of seemingly solid deals going down the gurgler. Your wife shares your fears, this speaks volumes. You say it is for the children, so as has been said above...set something up secure for the children... but I for one would need to think long and hard before I was relying on Thailand to protect my assets for my retirement. Just a thought.