USA citizen - Want to leave money in USA bank accounts to non-spouse Thai citizen.

[JimmyJ]

I've just discovered it won't be as easy as just naming the person as beneficiary on the accounts.

 

They are with one exception regular savings and checking accounts.

 

Would also like to name the same person as beneficiary of money in my Thai bank accounts.

 

Do I have to find an Estate Lawyer in my US state of residence, and a Thai lawyer to draw up a will for the Thai funds?

 

I know USA citizens here have set this up - How did you accomplish this?

Edited April 3, 2020 by JimmyJ

[4evermaat]

@ubonjoe  Home country forum?

 

 

[Langsuan Man]

Easy for Thai assets give your Thai lawyer the PIN. and your beneficiary your ATM card, the money will be gone long before probate even begins 

 

Your beneficiary will eventually need a lawyer for probate here in Thailand if you own real property but you can still write a Thai Will both in English and Thai and have it recorded at your local amphur to prevent any changes happening after you die.  Understanding that the Thai version will take precedence 

 

If you want to leave US assets to a Thai it is going to be a little more complicated and would require an Estate Lawyer in the US to be your Executor.since your most difficult part will be getting a TIN, tax payer identification number, something that my research has shown can only be done after you are deceased and have a Will to show the IRS of the need

 

That is the problem I am grappling with now 

[JimmyJ]

5 hours ago, Langsuan Man said:

Easy for Thai assets give your Thai lawyer the PIN. and your beneficiary your ATM card, the money will be gone long before probate even begins 

 

Your beneficiary will eventually need a lawyer for probate here in Thailand if you own real property but you can still write a Thai Will both in English and Thai and have it recorded at your local amphur to prevent any changes happening after you die.  Understanding that the Thai version will take precedence 

 

If you want to leave US assets to a Thai it is going to be a little more complicated and would require an Estate Lawyer in the US to be your Executor.since your most difficult part will be getting a TIN, tax payer identification number, something that my research has shown can only be done after you are deceased and have a Will to show the IRS of the need

 

That is the problem I am grappling with now 

"Easy for Thai assets give your Thai lawyer the PIN. and your beneficiary your ATM card, the money will be gone long before probate even begins."

 

Someone mentioned in another thread that they were planning to do this (perhaps you), and others mentioned it being illegal.

 

I don't own property here but I'd rather go with a will since it seems to me the beneficiary could be arrested or could at least have legal headaches in the future.

 

 

I know almost nothing about Thai law so if you can explain how the person wouldn't have problems doing this, I am interested.

 

As for the US situation, does the Estate Lawyer have to practice law in one's state of residence?

 

If not, have you found one you recommend?

 

Incidentally, Thailand and the US do have a tax treaty?

 

 

 

Edited April 3, 2020 by JimmyJ

[lopburi3]

5 hours ago, Langsuan Man said:

If you want to leave US assets to a Thai it is going to be a little more complicated and would require an Estate Lawyer in the US to be your Executor.since your most difficult part will be getting a TIN, tax payer identification number, something that my research has shown can only be done after you are deceased and have a Will to show the IRS of the need

If spouse and not high income she can still obtain ITIN for tax reporting as married joint return.  

 

Edit;  Sorry header says non spouse so above NA

Edited April 3, 2020 by lopburi3

[Langsuan Man]

18 hours ago, JimmyJ said:

Someone mentioned in another thread that they were planning to do this (perhaps you), and others mentioned it being illegal.

You can't be prosecuted for a crime if you are dead. so don't worry about the legality OP, do what has to be done to get the job done

 

I really wish the law and order types here would get a grip