A practical family asset plan makes three things clear: who owns each asset, who can make decisions, and where the supporting documents are kept. Separate personal property from company property. The Thai term “kongsi” should not be treated as a legal ownership right unless that right is reflected in the relevant documents.
Inventory assets and obligations
List bank deposits, shares, land, homes, business interests, insurance, debts, guarantees, and related contracts. Record the legal owner shown in the documents, an estimated value, the date checked, and who holds the evidence.
Define how decisions are made
Document who may approve a sale, mortgage, dividend payment, a family member joining the company, or a response to a conflict of interest. Keep family meeting notes separate from formal company board resolutions.
Review succession arrangements
Review wills, beneficiaries, insurance, powers of attorney, and shareholder agreements with a lawyer and accountant. Set a review schedule for events such as marriage, the birth of a child, acquiring a business, or changing company leadership.
The linked video discusses general financial planning. For family business and estate arrangements, use the official references below and consult qualified professionals about your circumstances.
Official references
- Bank of Thailand: financial planning and creating a spending plan
- Thai SEC: trustee roles and qualifications