How much do you think Thai Banks will love no more income letters

[bikerlou47]

Along that line how does one pass on the 800,000 if the XPAT passes on?

Beneficiary possible on the bank account?

or

Do we need to get to a lawyer and get a will?

[fforest1]

No need for any stress....Just give your wife/girlfriend/son/daughter/brother etc a ATM card and they can draw the 800,000 out a little each day...

[bikerlou47]

So after you are dead and burned your account will live on?

[puchooay]

You could write a will to make things easier. No need for a lawyer.

[overherebc]

7 minutes ago, bikerlou47 said:

So after you are dead and burned your account will live on?

If the bank is aware you have passed on they will freeze the account. Someone may be charged with theft???? for using the card.

A will is the only way.

[cleverman]

Should have your answer. Now watch as hundreds of others tell you the same thing. 

[KittenKong]

15 minutes ago, fforest1 said:

No need for any stress....Just give your wife/girlfriend/son/daughter/brother etc a ATM card and they can draw the 800,000 out a little each day...

I know some families who wont wait until you are dead to start doing that.

[bikerlou47]

1 minute ago, KittenKong said:

I know some families who wont wait until you are dead to start doing that.

Nothing like changing the topic!

 

[1FinickyOne]

In my passing I will do anything to ease the way for my family here... which means legal will, POA and access to bank accounts...

[Olmate]

You just take it out the day before!

[Peterw42]

4 minutes ago, bikerlou47 said:

So after you are dead and burned your account will live on?

Technically an account would be eventually shut down and the subject to probate/will etc but as others have said give someone an atm card or internet banking and they can transfer money etc. There is no automatic process were bank accounts get frozen the day after you pass away. 

Even back in the Australia I operated my parents accounts after they passed, moving money on the advice of the lawyer doing probate. Technically you are not supposed to but common practice. 

[Peterw42]

1 minute ago, kenk24 said:

In my passing I will do anything to ease the way for my family here... which means legal will, POA and access to bank accounts...

POA doesnt operate after the person dies, it ends with the person passing.

[1FinickyOne]

3 minutes ago, Olmate said:

You just take it out the day before!

not as easy as it sounds... if in your name they need POA... and the day before? That is sort of like toast till it burns then 10 seconds less... and besides, they may need it to pay medical bills.. but that is the basic spirit of it... get the $$ before the end.

[1FinickyOne]

1 minute ago, Peterw42 said:

POA doesnt operate after the person dies, it ends with the person passing.

correct.. I think. The POA would give access to bank account before, the Will for after... 

[buick]

as i understand, you really need the will.  as noted by another, the account can be frozen upon your death.  i've been looking into this and got quotes ranging from 40,000thb to 5,000thb.  i told the firm with the 40,000thb quote that i was only listing two bank accounts, nothing complex.  but they stuck to their price.  so i'm now working with the person who quoted 5,000thb.  i'm trying to determine who i should use as an executor as i don't want the beneficiary to know they are getting the money upon my death.  if i wanted them to know, i'd have the executor and beneficiary as the same person.  unfortunately, you can't just list a beneficiary name with your bank (like i do in USA).  i was also told i could do the will myself, get it translated, and file it with my local amphur for a cost of 15thb (not counting the cost to translate). 

[bikerlou47]

3 minutes ago, buick said:

as i understand, you really need the will.  as noted by another, the account can be frozen upon your death.  i've been looking into this and got quotes ranging from 40,000thb to 5,000thb.  i told the firm with the 40,000thb quote that i was only listing two bank accounts, nothing complex.  but they stuck to their price.  so i'm now working with the person who quoted 5,000thb.  i'm trying to determine who i should use as an executor as i don't want the beneficiary to know they are getting the money upon my death.  if i wanted them to know, i'd have the executor and beneficiary as the same person.  unfortunately, you can't just list a beneficiary name with your bank (like i do in USA).  i was also told i could do the will myself, get it translated, and file it with my local amphur for a cost of 15thb (not counting the cost to translate). 

Thank you Sir..for an intelligent response

[cyberfarang]

1 hour ago, bikerlou47 said:

So after you are dead and burned your account will live on?

If you are married to a Thai, bung 1.6 million in the account and put it in joint names.

[KittenKong]

1 hour ago, bikerlou47 said:

Nothing like changing the topic!

Seems on-topic to me. A suggestion as to how to solve the problem was made, and I pointed out a common potential downside to that suggestion.

For what it's worth, that suggestion would be how I would do it also.

 

Another option would be to have the family member listed as an official signatory, which should be possible with most Thai banks. There was a very recent topic about this.

[thedemon]

1 hour ago, fforest1 said:

No need for any stress....Just give your wife/girlfriend/son/daughter/brother etc a ATM card and they can draw the 800,000 out a little each day...

 

It is possible to withdraw the entire 800k in one day with an ATM card.

 

The KBank maximum limits (unless they have increased recently) are 200K/day for cash withdrawals and 1M/day for transfer to other accounts. SCB has similar limits. I don't recall for BKK Bank but would imagine they are also at a similar level.

[cleverman]

1 hour ago, Peterw42 said:

POA doesnt operate after the person dies, it ends with the person passing.

I thought that a person "passing" would be the same as a person "dying"!

[khwaibah]

My account is with Bangkok Bank. The account is in my name and my name only. At  Bangkok Bank I signed that account over to my wife when I go to the BBQ. All she has to do is present the BBQ certificate to the Bangkok Bank and that account is hers. No lawyer is needed.

[bikerlou47]

17 minutes ago, khwaibah said:

My account is with Bangkok Bank. The account is in my name and my name only. At  Bangkok Bank I signed that account over to my wife when I go to the BBQ. All she has to do is present the BBQ certificate to the Bangkok Bank and that account is hers. No lawyer is needed.

Maybe because it is your wife? I will check with Bangkok Bank to see if I can do the same..thanks.

[bikerlou47]

1 hour ago, KittenKong said:

Seems on-topic to me. A suggestion as to how to solve the problem was made, and I pointed out a common potential downside to that suggestion.

For what it's worth, that suggestion would be how I would do it also.

 

Another option would be to have the family member listed as an official signatory, which should be possible with most Thai banks. There was a very recent topic about this.

The account can only be in your name only for immigration purposes.

[bikerlou47]

1 hour ago, cyberfarang said:

If you are married to a Thai, bung 1.6 million in the account and put it in joint names.

Can not be in joint account for immigration purposes.

[JackThompson]

2 hours ago, bikerlou47 said:

Can not be in joint account for immigration purposes.

Some report it is allowed if/when double the minimum - though would be counting on the IO's cooperation.  Some reported a time in the past, when marriage-based required a joint-account.

[Boon Mee]

My bank charges me a whopping ???? baht for the letter. 

I don't think they care one way or the other. 

[Lacessit]

5 hours ago, kenk24 said:

correct.. I think. The POA would give access to bank account before, the Will for after... 

If the POA nominates one person, and the will nominates another person as the executor, the executor takes over when the person dies. My will leaves the assets in Thailand to my Thai GF, and the assets in Australia to my son. They are joint executors. Three wills actually - Thai language, translation, and Australian will. They all state the same thing.

[hansnl]

6 hours ago, buick said:

as i understand, you really need the will.  as noted by another, the account can be frozen upon your death.  i've been looking into this and got quotes ranging from 40,000thb to 5,000thb.  i told the firm with the 40,000thb quote that i was only listing two bank accounts, nothing complex.  but they stuck to their price.  so i'm now working with the person who quoted 5,000thb.  i'm trying to determine who i should use as an executor as i don't want the beneficiary to know they are getting the money upon my death.  if i wanted them to know, i'd have the executor and beneficiary as the same person.  unfortunately, you can't just list a beneficiary name with your bank (like i do in USA).  i was also told i could do the will myself, get it translated, and file it with my local amphur for a cost of 15thb (not counting the cost to translate). 

My BIL, being a PP, so he should know, said a will in English plus a translation in Thai by a known translator filed with the amphur and tessabaan is the best way to go.

Also what to do with your remains can also be described into that will.

Tell your Embassy what you want to be done with your remains and who you designated to dispose of you.

Last thing to speed things up, a delay by finding your relatives back home can be an unpleasant wait.

[Chicken George]

you can instruct the bank to let your wife or named person take the money out.. 

[malibukid]

not getting one baht of my money.  scam city