How many of you have a will?
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- Wun Gwo Pee
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How many of you have a will?
I'd be interested to know how many people here have given any thought to estate planning and have made wills, or even the legal efficacy of those wills in Cambodia.
I made a will in another country several years ago, but at the time pretty much all my assets were located in that country. Now I've pockets of cash in 4-5 different countries and my personal circumstances have changed.
I think I'm right in saying that a will only has legal authority over the assets in that country? Does that mean it's necessary to create several different wills around the world?
Has anyone done this?
I made a will in another country several years ago, but at the time pretty much all my assets were located in that country. Now I've pockets of cash in 4-5 different countries and my personal circumstances have changed.
I think I'm right in saying that a will only has legal authority over the assets in that country? Does that mean it's necessary to create several different wills around the world?
Has anyone done this?
- Barang_doa_slae
- cannonballer
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From my understanding it doesn't depends on assets location. Wherever your assets are located, there can be only one legal will and it will always be the latest done in the right form that will be the valid one.
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- I need professional help
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A will can cover either assets in multiple countries, or in a single country. You can have multiple wills (something I only discovered recently).
I, and a few others here I have spoken to about it, have separate wills for each country, as this makes the probate process easier. A will that covers assets in multiple countries is more complicated for the executor of the estate, as it is covering different legal systems in different countries.
If you do make multiple wills it's very important to ensure that the wording of your wills specifies that it only covers assets in a particular country.
So it will have a sentence like "I declare this to be my last will and testament in relation to my assets located in Australia only." (or whichever country is relevant).
I checked this with lawyers both in Australia and here in Cambodia.
In Cambodia, as far as I'm aware, there are three levels of wills.
The first, and most secure, is one prepared and registered by a recognised notary public. About $600.
Then there is a songkat level will, about $200. And lastly you can just write your own will, sign it, have it witnessed, and keep it safe. No $ cost. But may be open to dispute in the event of your death.
I don't know what happens if you die intestate, with no will, in Cambodia. I imagine there is a default legal distribution of your assets amongst your spouse and family but I'd be interested to know what the proportions are if anyone knows. I've heard that a de facto partner has no automatic rights here, which would affect many barangs and their girlfriends, but I don't know for sure.
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I, and a few others here I have spoken to about it, have separate wills for each country, as this makes the probate process easier. A will that covers assets in multiple countries is more complicated for the executor of the estate, as it is covering different legal systems in different countries.
If you do make multiple wills it's very important to ensure that the wording of your wills specifies that it only covers assets in a particular country.
So it will have a sentence like "I declare this to be my last will and testament in relation to my assets located in Australia only." (or whichever country is relevant).
I checked this with lawyers both in Australia and here in Cambodia.
In Cambodia, as far as I'm aware, there are three levels of wills.
The first, and most secure, is one prepared and registered by a recognised notary public. About $600.
Then there is a songkat level will, about $200. And lastly you can just write your own will, sign it, have it witnessed, and keep it safe. No $ cost. But may be open to dispute in the event of your death.
I don't know what happens if you die intestate, with no will, in Cambodia. I imagine there is a default legal distribution of your assets amongst your spouse and family but I'd be interested to know what the proportions are if anyone knows. I've heard that a de facto partner has no automatic rights here, which would affect many barangs and their girlfriends, but I don't know for sure.
Sent from my iPhone using Tapatalk
Last edited by youngwill100 on Wed May 25, 2016 10:16 am, edited 2 times in total.
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- Wun Gwo Pee
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Excellent input youngwill. Your comments about wills covering assets in one country being easier to administer make sense and seem on point with what I was told years ago.
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- Making Khmer girls cry since 2003
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We haven't yet had a good dispute involving a deceased expat and a questionable will. Like one that's printed off a computer and says "I leave everything to my scheming bargirl ex-wife's parents," with a dubious signature.youngwill100 wrote: And lastly you can just write your own will, sign it, have it witnessed, and keep it safe. No $ cost. But may be open to dispute in the event of your death.
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- Barang_doa_slae
- cannonballer
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Very interesting youngwill, I will have to check with my french notary since he told me the opposite as I stated above. That would surely make things much easier.
- Felgerkarb
- Sir Felgerkarb, Kt Pb
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I am filing a will here in Cambodia and an identical will with my Attorney in the US. Have to make sure Morticia and Pubert are covered as my mighty economic empire is global.
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Why are the gods such vicious cunts?
Where is the god of tits and wine?
Why are the gods such vicious cunts?
Where is the god of tits and wine?
I have a will. Witnessed by several people and copies with my executor in Australia. Sealed copy here for the wife if the shit goes down - she knows what to do.
Rated R for Ricecakes
I put everything in the wife's name seeing as it is a virtual certainty that I will die before her. As regards bank accounts a friend has the pin and knows what to do (and the fucker better not go on a round the world holiday with it). Soon to be purchased life insurance will point to the kids. Too many good guys dying to young around here.
I am very impressed with Will's knowledge of wills. Maybe the name should have given it away.
I am very impressed with Will's knowledge of wills. Maybe the name should have given it away.
I have a proper will but I left it back in the UK for some reason.
If I did get one done here I certainly wouldn't want to tell my wife about it. There's a lot of trees around my house. I know they can steal oxygen when ordered to.
If I did get one done here I certainly wouldn't want to tell my wife about it. There's a lot of trees around my house. I know they can steal oxygen when ordered to.
pew, pew, pew, pew!
I'm not paying some Khmer shonk $600 . That's ludicrous.
I'm not involving the Sangkat where I don't have to. They're fuckwits.
And....im certainly not having multiple wills.
Lawyers, attorneys, etc ??
Pfffft
I'm not involving the Sangkat where I don't have to. They're fuckwits.
And....im certainly not having multiple wills.
Lawyers, attorneys, etc ??
Pfffft
Rated R for Ricecakes
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- Making Khmer girls cry since 2003
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Do you guys who have kids leave everything to your wife? Isn't their a concern that the in laws will pressure her to spend all your money on pig farms and stupid shit and your kids will end up potless?
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- I Am Losing It All to the Internet
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Costed me less than AUD 400 in Oz, done with a legal firm.
Took the beneficiary with me when making the will... and gave her a copy to take home.
Sometimes there can be more than one reason to make a will.
Took the beneficiary with me when making the will... and gave her a copy to take home.
Sometimes there can be more than one reason to make a will.
- offshoresports
- I've got internet at work
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Maybe in that case a trust should be set up to ensure the children are taken care of?gavinmac wrote:Do you guys who have kids leave everything to your wife? Isn't their a concern that the in laws will pressure her to spend all your money on pig farms and stupid shit and your kids will end up potless?
Numbnuts all grown up