When an estate involves a business or assets shared by relatives, a key risk is confusing the estate administrator’s role with that of a shareholder, company director, or manager of a family fund. Each role has different authority and records.
Keep Three Sets of Records
- The deceased person’s personal property: list the owner, title documents, value, debts, and people entitled to receive it.
- Company property: use the shareholder register, financial statements, memorandum of association, and company articles. Do not treat company assets as a shareholder’s personal property.
- Money shared by family members: record deposits, approval authority, and spending evidence separately from the estate.
An estate administrator should keep receipts, account statements, notices to beneficiaries, and the reasons for asset sales so the administration can be explained later. If there is a dispute or company property is involved, consult a lawyer and accountant who can review the actual documents before transferring or distributing funds.
Thailand’s Department of Lands explains documents and procedures for registering inherited land and an estate administrator’s authority. Company authority must be checked against the company records and the laws that apply to that business.
The associated video summarizes general money-management ideas; it does not discuss family funds or an estate administrator’s authority.
Scope: Inheritance and company authority depend on the estate documents, company records, and applicable law. Obtain case-specific legal and accounting advice before transferring assets.