RichLB wrote:There is an alternative to filing a will (at least in the US). I'd never heard of this device until a friend of mine told me about it. It's called "Transfer on Death". What this vehicle does is immediately transfer whatever assets are identified to the recipient, thus bypassing probate. I don't think this would include monies or assets held outside the US, but I'm not sure. You might want to check this out with your financial advisor.
Late to respond but just came back to this thread. I'm wondering what your friend is talking about, perhaps a living trust? Having practiced probate law for many decades, I've never heard of any such legal vehicle. Yes, there are some accounts which allow designation of a beneficiary and those accounts would "transfer on death"; but, other than that, there's no such general vehicle to accomplish what your friend was talking about. By the way, a living trust established in one's home country would not be usable in Thailand for Thai assets....as Thailand doesn't recognize the trust concept.
One can use a foreign Will (US, UK, wherever) to transfer Thai assets in a probate proceeding here in Thailand; however, various documents are needed (such as certified copies of the Will itself as well as certified copies of home country court orders admitting the Will to probate) and then all that junk needs to be officially translated into Thai before you can use those documents to open a probate proceeding here in Thailand. I still think the cleanest and easiest way to go is to have a Thai Will made here to handle your assets here [and this Will should say it only deals with Thai assets and any home country Will (especially if at all different) should also mention that you have a Thai Will that separately handles Thai assets].