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

[Time Traveller]

7 hours ago, overherebc said:

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.

Correct it would be theft until after the estate is divided up.

A joint account with rights of survivorship works if the other party is your legal wife. 

[Just Weird]

8 hours ago, bikerlou47 said:

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?

Probate, same as every other country.

[Just Weird]

7 hours ago, bikerlou47 said:

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

Only if the bank is not informed but anyone who uses it will be guilty of fraud and/or theft.

[connda]

Why screw around with it.  5000 THB for a Will and Sonchai's your Uncle.  After a trip to probate court and the 800K is your beneficary's.  My own lawyer said that will the Will and a Death Certificate and proof of marriage, the bank will probably release some of the money for living expenses without going to probate. 
So, save 5000 THB and make a headache for your beneficiary - or - just do it the easy way and have a Last Will and Testament drawn up.  As an added benefit you can also specify what to do with the rest of your assets, who to contact after your death, how to dispose of your body, who doen't get a satang of your assets, and other niceties like that.  If you don't specify your wishes, Thai probate court will assign assets base on their own formula which may end up cutting the person who you wanted your assets to go to right out of the loop.
But - up to you!

[bkk6060]

6 hours ago, thedemon said:

 

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.

Several months back the Mgr. at BKK Bank at Central mall in Pattaya told me the max. per day on ATM is 50,000 b.  Not sure if still holds.

[soalbundy]

8 hours 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...

you can make a will at the amphoer, it's legal and doesn't cost much.

[Cricky]

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

 

What is meant by your heading?

 

Income letters have nothing to do with banks.

[NoshowJones]

8 hours ago, bikerlou47 said:

Nothing like changing the topic!

 

Can you please explain how the topic has been changed?

It seems to me the poster is perfectly on topic.

[Surasak]

7 hours ago, cleverman said:

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

Wouldn't that depend on what you are "Passing"?????

[Surasak]

A deposit A/C would require a will, to release the mony after probate. A card is not usually given with this type of A/C

[ukrules]

1 hour ago, bkk6060 said:

Several months back the Mgr. at BKK Bank at Central mall in Pattaya told me the max. per day on ATM is 50,000 b.  Not sure if still holds.

50k Baht is the standard daily limit for a basic savings account at Kasikorn as well, this is what I use for my day to day living expenses.

 

I'm sure there are many other types of account and limits which can be arranged with the bank just like in other countries.

 

 

[Magenta408]

Dude, grab yourself a couple of suds and tomorrow come back. 800,000 is peanuts.

[david555]

7 hours ago, thedemon said:

 

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.

When having 2 accounts and cards (which I have for security reasons already …) solves this problem already for 2x 200 000 taking out on cards , a 2 day operation recovers so "your golden 800K"

[david555]

1 hour ago, bkk6060 said:

Several months back the Mgr. at BKK Bank at Central mall in Pattaya told me the max. per day on ATM is 50,000 b.  Not sure if still holds.

Standard setting ,but you can change up to 200 000 check online their publicity for their cards    = up to 200 000 a day max.

[gaviny]

Seriously 800000 in the bank , just by living frugally you would still make a big dent living of that in 9 months , wouldn't you?

Sent from my Redmi Note 6 Pro using Thailand Forum - Thaivisa mobile app

[KittenKong]

7 hours ago, bikerlou47 said:

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

If you look at the recent topic I mentioned, this was addressed. A person's name does not necessarily have to be on the account for them to have access to it, though the rules are different from bank to bank.

[KittenKong]

1 minute ago, gaviny said:

Seriously 800000 in the bank , just by living frugally you would still make a big dent living of that in 9 months , wouldn't you?

Some would but anyone who owns his own house/condo and who doesnt frequent bars/hookers could easily spend much less.

[bkk6060]

3 minutes ago, gaviny said:

Seriously 800000 in the bank , just by living frugally you would still make a big dent living of that in 9 months , wouldn't you?

Sent from my Redmi Note 6 Pro using Thailand Forum - Thaivisa mobile app
 

HAHA.  You would think so if one wanted a true quality retirement life.

But, there are 1000's of braggarts who are in the 20 to 25,000 range per month who claim their life is fantastic and better then ever. 

800 k is 3 years of life for them....

 

[Skeptic7]

10 hours ago, overherebc said:

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.

The only legal way. And since we all know how staunchly committed they are to legalities here...not really the only way. 

[Orton Rd]

10 hours 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...

Committing fraud and if the card is lost or fails to work what then?

[david555]

1 minute ago, Skeptic7 said:

The only legal way. And since we all know how staunchly committed they are to legalities here...not really the only way. 

Unless you buy yourself really heavy strong safe ….

[david555]

7 minutes ago, Orton Rd said:

Committing fraud and if the card is lost or fails to work what then?

Same for loosing / destroying /not finding the will ….as not arranged as in western country's where they are registered.... but the last dated handwritten one overrules the older …,this is not possible in Thailand as witness signatures needed …., so not anonymous any more ……(risk for an early dead ????…...one more suicide case probably ..?)????

[lovelomsak]

If you are legally married no need for a will.If your  wife can produce a marriage certificate that is all she needs.

 I was going to get a will consulted a lawyer he told do not bother.  The police will give the wife a death certificate. The police may even accompany her to the bank show marriage and death certificate and the wife gets my  money.

[Olmate]

37 minutes ago, bkk6060 said:

HAHA.  You would think so if one wanted a true quality retirement life.

But, there are 1000's of braggarts who are in the 20 to 25,000 range per month who claim their life is fantastic and better then ever. 

800 k is 3 years of life for them....

 

Money dont maketh the man!

[IAMHERE]

My fear is that someday we'll all be given three days to get out of the country and that those three days will be a bank holiday.

[puchooay]

20 minutes ago, lovelomsak said:

If you are legally married no need for a will.If your  wife can produce a marriage certificate that is all she needs.

 I was going to get a will consulted a lawyer he told do not bother.  The police will give the wife a death certificate. The police may even accompany her to the bank show marriage and death certificate and the wife gets my  money.

Incorrect.

[bkk6060]

14 minutes ago, Olmate said:

Money dont maketh the man!

Well, keep that thought and enjoy your life then......

[thedemon]

28 minutes ago, lovelomsak said:

If you are legally married no need for a will.If your  wife can produce a marriage certificate that is all she needs.

 I was going to get a will consulted a lawyer he told do not bother.  The police will give the wife a death certificate. The police may even accompany her to the bank show marriage and death certificate and the wife gets my  money.

 

That can't be correct because if you die intestate, unless you have no other relatives your wife is not entitled to 100% of your assets.

 

Quote

The share of the surviving spouse shall be in accordance with the following:

 

If the decedent left a spouse and children, the spouse is entitled to 50% of the estate and the children are entitled for the remaining 50% which shall be equally distributed among them.

 

If the decedent left his spouse and parents, the spouse is entitled to 50% and the parents to the other 50%;

If the decedent left his spouse and his brothers and sisters of full blood,  the spouse is entitled to 50% and the other 50% goes to his brothers and sisters;

 

If the decedent left his spouse and heirs in classes 4, 5, 6 (brothers and sisters of full blood, grandparents, uncles and aunts, then the spouse will inherit 2/3s of the estate and the remaining heirs will be entitled to the other 1/3 which will be divided in equal shares among them. The surviving spouse takes the whole estate in the absence of any other statutory heir.

https://www.thailandlaw.org/intestate-succession-in-thailand.html

 

 

[Olmate]

4 minutes ago, bkk6060 said:

Well, keep that thought and enjoy your life then......

I do intend to ,perhaps you could too if you tried...

[joevanwyck]

40 minutes ago, Olmate said:

Money dont maketh the man!

But, it makes the man's Thai Girlfriend happy.