bikerlou47 Posted November 20, 2018 Share Posted November 20, 2018 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? Link to comment Share on other sites More sharing options...
Popular Post fforest1 Posted November 20, 2018 Popular Post Share Posted November 20, 2018 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... 3 5 Link to comment Share on other sites More sharing options...
bikerlou47 Posted November 20, 2018 Author Share Posted November 20, 2018 So after you are dead and burned your account will live on? Link to comment Share on other sites More sharing options...
puchooay Posted November 20, 2018 Share Posted November 20, 2018 You could write a will to make things easier. No need for a lawyer. 1 Link to comment Share on other sites More sharing options...
Popular Post overherebc Posted November 20, 2018 Popular Post Share Posted November 20, 2018 (edited) 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. Edited November 20, 2018 by overherebc 7 Link to comment Share on other sites More sharing options...
cleverman Posted November 20, 2018 Share Posted November 20, 2018 Should have your answer. Now watch as hundreds of others tell you the same thing. 1 1 Link to comment Share on other sites More sharing options...
Popular Post KittenKong Posted November 20, 2018 Popular Post Share Posted November 20, 2018 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. 4 17 Link to comment Share on other sites More sharing options...
bikerlou47 Posted November 20, 2018 Author Share Posted November 20, 2018 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! 1 Link to comment Share on other sites More sharing options...
Popular Post 1FinickyOne Posted November 20, 2018 Popular Post Share Posted November 20, 2018 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... 3 1 Link to comment Share on other sites More sharing options...
Popular Post Olmate Posted November 20, 2018 Popular Post Share Posted November 20, 2018 You just take it out the day before! 1 11 Link to comment Share on other sites More sharing options...
Popular Post Peterw42 Posted November 20, 2018 Popular Post Share Posted November 20, 2018 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. 3 1 Link to comment Share on other sites More sharing options...
Peterw42 Posted November 20, 2018 Share Posted November 20, 2018 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. 1 1 1 Link to comment Share on other sites More sharing options...
1FinickyOne Posted November 20, 2018 Share Posted November 20, 2018 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. Link to comment Share on other sites More sharing options...
1FinickyOne Posted November 20, 2018 Share Posted November 20, 2018 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... 1 Link to comment Share on other sites More sharing options...
buick Posted November 20, 2018 Share Posted November 20, 2018 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). 1 Link to comment Share on other sites More sharing options...
bikerlou47 Posted November 20, 2018 Author Share Posted November 20, 2018 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 2 Link to comment Share on other sites More sharing options...
cyberfarang Posted November 20, 2018 Share Posted November 20, 2018 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. 1 1 Link to comment Share on other sites More sharing options...
KittenKong Posted November 20, 2018 Share Posted November 20, 2018 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. 2 Link to comment Share on other sites More sharing options...
thedemon Posted November 20, 2018 Share Posted November 20, 2018 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. Link to comment Share on other sites More sharing options...
cleverman Posted November 20, 2018 Share Posted November 20, 2018 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"! Link to comment Share on other sites More sharing options...
Popular Post khwaibah Posted November 20, 2018 Popular Post Share Posted November 20, 2018 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. 4 1 1 Link to comment Share on other sites More sharing options...
bikerlou47 Posted November 20, 2018 Author Share Posted November 20, 2018 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. 1 Link to comment Share on other sites More sharing options...
Popular Post bikerlou47 Posted November 20, 2018 Author Popular Post Share Posted November 20, 2018 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. 5 Link to comment Share on other sites More sharing options...
Popular Post bikerlou47 Posted November 20, 2018 Author Popular Post Share Posted November 20, 2018 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. 3 Link to comment Share on other sites More sharing options...
JackThompson Posted November 20, 2018 Share Posted November 20, 2018 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. Link to comment Share on other sites More sharing options...
Boon Mee Posted November 20, 2018 Share Posted November 20, 2018 My bank charges me a whopping ???? baht for the letter. I don't think they care one way or the other. 1 1 Link to comment Share on other sites More sharing options...
Lacessit Posted November 20, 2018 Share Posted November 20, 2018 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. Link to comment Share on other sites More sharing options...
hansnl Posted November 20, 2018 Share Posted November 20, 2018 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. Link to comment Share on other sites More sharing options...
Chicken George Posted November 20, 2018 Share Posted November 20, 2018 you can instruct the bank to let your wife or named person take the money out.. 1 Link to comment Share on other sites More sharing options...
malibukid Posted November 20, 2018 Share Posted November 20, 2018 not getting one baht of my money. scam city Link to comment Share on other sites More sharing options...
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