Money in bank

[cleverman]

I put 800000K in the bank for my retirement visa,you all know what I mean, I'm an Ozzie but soon all expats will have to, single man. I drop dead, how does my son in Oz go about getting my money back. No assumptions please or comments about BE, it's a done deal. Thanking you in advance. My son is an adult,is an Ozzie. 

[worgeordie]

Make a will ?

regards Worgeordie

[cleverman]

4 minutes ago, worgeordie said:

Make a will ?

regards Worgeordie

Brilliant. 

[chickenslegs]

Just thinking out loud here.

If you had a Thai bank account with internet access, and linked it to currency transfer facility (Transferwise or similar), you could give your boy your passwords and tell him to empty the account when he gets the bad news.

Would that work?

[lopburi3]

4 minutes ago, chickenslegs said:

Just thinking out loud here.

If you had a Thai bank account with internet access, and linked it to currency transfer facility (Transferwise or similar), you could give your boy your passwords and tell him to empty the account when he gets the bad news.

Would that work?

Money can not be pulled from a Thai account using that service AFAIK.  An ATM card is all that is required when living - but bank would likely freeze account long before that amount could be withdrawn on death.

[whiteman]

Money can not be pulled from a Thai account using that service AFAIK.  An ATM card is all that is required when living - but bank would likely freeze account long before that amount could be withdrawn on death.

 

Correct 

 

Maybe better to use the 800k to live on while here and top up 3 months b4 the next one is due.

 

Or make a will here in Thailand leaving all proceeds to me and when you son comes over for a 10% handling cost I will give the rest to your son :)

 

I am sure others will do it for 9% handling :)

[david555]

Keep the 800 000 (or less..) in your safe , and only 3 and a half month before your new ret. ext. date fill account up to 800k +, and giving your son code or key from safe could do the trick also and limit the risk to the 3 months only

[cleverman]

11 minutes ago, david555 said:

Keep the 800 000 (or less..) in your safe , and only 3 and a half month before your new ret. ext. date fill account up to 800k +, and giving your son code or key from safe could do the trick also 

Thanks all. Re safe, it would needle a bloody big one. Three mates who have been found dead in their condos were missing their valuables by the time their relies got here for their BBQ. 

[david555]

6 minutes ago, cleverman said:

Thanks all. Re safe, it would needle a bloody big one. Three mates who have been found dead in their condos were missing their valuables by the time their relies got here for their BBQ. 

that's always the risk , or the bank takes it , or those who find your body ???? , or if a GF is there , maybe she find & knows you are worth to die early...... ????    many of us are in the same boat....

[wgdanson]

1 hour ago, lopburi3 said:

but bank would likely freeze account long before that amount could be withdrawn on death.

IF someone told the bank....

[cleverman]

I  am aware of what has been posted. What I want to know is the procedure ,ie, son comes to LOS with my will, he takes the will to who ,and who will fill out a form and he will take that to who nr 2, and son will make 10 copies plus 4 passport  pics and submit them to who, and then in X nr of days, he comes back to LOS to repeat the process, then X months later, he gets a cheque. Can anybody fill in the missing bits?

[david555]

7 minutes ago, cleverman said:

I  am aware of what has been posted. What I want to know is the procedure ,ie, son comes to LOS with my will, he takes the will to who ,and who will fill out a form and he will take that to who nr 2, and son will make 10 copies plus 4 passport  pics and submit them to who, and then in X nr of days, he comes back to LOS to repeat the process, then X months later, he gets a cheque. Can anybody fill in the missing bits?

I read before on forum the will has to pass court (and best to give a certified copy to the beneficiary already ) , so lawyer needed, same for condo example , finally it is another condo transfer , same as buying /selling almost...

About the safe thing …, safe must not be big a very small one would do if can be made in a very very hidden place , example not easy daily accessible , if your own condo very easy to do , rented ...not so

[cleverman]

Brain wave. Top up my cash card to 30K. Money stays in Oz, use it to live here and top up in time for the visa. Be easy for my son to get the money back in Oz. I'm not known as cleverman for nothing. This is gunna affect all singles retired here soon. 

[david555]

3 minutes ago, cleverman said:

Brain wave. Top up my cash card to 30K. Money stays in Oz, use it to live here and top up in time for the visa. Be easy for my son to get the money back in Oz. I'm not known as cleverman for nothing. This is gunna affect all singles retired here soon. 

ah you single and by your solution now not worth to made dying early …. you go live a long time now...????

[Snow Leopard]

1 hour ago, chickenslegs said:

Just thinking out loud here.

If you had a Thai bank account with internet access, and linked it to currency transfer facility (Transferwise or similar), you could give your boy your passwords and tell him to empty the account when he gets the bad news.

Would that work?

If I did this my son would probably empty the account regardless of any news.....  Yes and he is supposed to be an adult.

[natway09]

One thing I do know, is that when this happens to me I won't care

[cleverman]

1 minute ago, natway09 said:

One thing I do know, is that when this happens to me I won't care

I care while I'm alive. 

[topt]

1 hour ago, cleverman said:

I care while I'm alive. 

Then you may want to have a read through this if you haven't already - 

 

[murraynz]

you need to make a will with a thai lawyer-very simple and not expensive, same if you purchase a condo here.....

[norbra]

Go to Oz get an AO visa.leave money in Oz

[Sheryl]

You need to make a will and do not have to have a lawyer to do so. But it needs to be in Thai and you need to be assurred of the translation.  2 witnesses required. Make sure your son has a copy of it as well as contact info for a lawyer here, as will have to get a court letter for the bank to turn over the funds.

[cleverman]

1 hour ago, topt said:

Then you may want to have a read through this if you haven't already - 

 

D

[stropper]

welllll, i just got married, so no probs  now, <deleted> money sucking ex aus wife and the things that fell out of her will get nothing, your right i am bitter!

 

[dlclark97]

I recently asked Bangkok Bank the same question for my wife upon my death.  The heir needs to submit the following.

1.  Attestation of Admissibility to the Successors (not sure yet what this is, maybe a will)

2.  A Power of Attorney (where she gets this if I'm already ashes???)

3.  Certificate of Death

4.  Valid passport of the heir and of the deceased

5.  Original Passbook

These documents must be sent to your embassy in Thailand.  Once processed, they will send to the manager of your bank.  The bank will consider the information and issue a draft or cashiers check to the Embassy to provide to the heir.  Any fees incurred will be deducted from the amount paid.

Hope this is of some value to you.  Best to ask your bank directly, seems complicated here. 

[cleverman]

2 minutes ago, dlclark97 said:

I recently asked Bangkok Bank the same question for my wife upon my death.  The heir needs to submit the following.

1.  Attestation of Admissibility to the Successors (not sure yet what this is, maybe a will)

2.  A Power of Attorney (where she gets this if I'm already ashes???)

3.  Certificate of Death

4.  Valid passport of the heir and of the deceased

5.  Original Passbook

These documents must be sent to your embassy in Thailand.  Once processed, they will send to the manager of your bank.  The bank will consider the information and issue a draft or cashiers check to the Embassy to provide to the heir.  Any fees incurred will be deducted from the amount paid.

Hope this is of some value to you.  Best to ask your bank directly, seems complicated here. 

Thanks, finally someone understands my question, you too are clever. 

[toolpush]

A friend of mine suddenly passed away. Luckily he had written a set of instructions and kept it in his bedroom desk. It had his PIN number for his ATM card linked to his Thai bank account. There was over 1 million baht in it. I withdrew the max (50K) every day for about 3 weeks. I arranged to trade the Thai baht with other friends who sent foreign currency to his sister in America. We never told the bank he had passed on.

[The Theory]

Open a joint account with your son, 9 months in joint account. 3 month in your account. And still it makes 9 months interest annually. 

But make a will anyway. 

[Andrew Dwyer]

A friend of mine suddenly passed away. Luckily he had written a set of instructions and kept it in his bedroom desk. It had his PIN number for his ATM card linked to his Thai bank account. There was over 1 million baht in it. I withdrew the max (50K) every day for about 3 weeks. I arranged to trade the Thai baht with other friends who sent foreign currency to his sister in America. We never told the bank he had passed on.

This seems like a great idea to me !

Forget about lawyers, embassy and bank creaming some off the top !
Should go to family, or whoever the deceased wishes, without any middle men !!

[cleverman]

On 24 October 2018 at 1:21 PM, Snow Leopard said:

If I did this my son would probably empty the account regardless of any news.....  Yes and he is supposed to be an adult.

I raised my kids to be decent and honest.