KBank release of account monies on death

[Speedo1968]

Relates to retirement visa account ( 800K ) and visa account with local KBank.
I have been trying to find out what documents are required by the bank to release the funds on the event of my death.    My local bank could not even find in Thai language.
Yes, I understand that others have people who will perhaps remove such funds within a few days.
I have someone I trust implicitly, whom I have known for 20 years+ but do not live with.   They have saved my life twice due to their medical knowledge, however they are not at this time willing to remove funds from the bank.
 

Does anyone have bank produced information about what documents are required, preferably in English and could message me with ?

Or does anyone know how to obtain such documents in English or even in Thai that I can get translated ?
Do they have at the Khon Kaen bank branch ?    I ask because I have no transport of my own and use train or bus to travel.

I drew up my Will years ago, it is very simple and there are no changes related to who gets what but, in the light of recent events ( Covid etc. ) I think it better to redraw my will.       I have been told or read that it need not be in Thai as it does not include property, is this correct ?

Any useful information would be gratefully received.

[lopburi3]

AFAIK money will not be released until final legal judgement is made by court (which can take months).  But if you have a will it should be done according to that - if not by Thai inheritance laws.  Do not believe bank has any legal options but that some offices can wait longer than others to freeze.  

Yet another reason to not use bank deposit if you have the option to use pension. 

I can not answer the Thai/English question but personally would make sure it was in Thai and under the supervision of that person you trust. 

[Max69xl]

At Bangkok Bank a few years ago they wanted me to add a beneficiary to my account. Name, address and phone number. I don't know how it works at K-Bank even though I have an account there as well. They must have something similar and the branch manager should know how it works. 

[Mick501]

I've recently been contemplating the same thing.  Haven't put it in to practice as yet, but my thoughts on a possible solution was to get a second ATM card to be left with the current loved one in Thailand.   The PIN number has been given to my brother in my home country.  In the event of death I've advised both (in writing so there is proof) that he should immediately pass the PIN number to her, and she should immediately withdraw all the funds.  The one exception being if, in my brother's opinion, she or her family/friends had any deliberate involvement in the death.

[Gulfsailor]

After death the bank will freeze the funds when they receive a copy of the death certificate. Then after probate by the court the funds get released to the estate, which gets divided by the executioner according to a will or as per standard inheritance laws.

If there is any possibility that there may be a fight over the inheritance, don’t be smart and take the money out before the account is frozen, as that’s a serious crime. 

[The Theory]

24 minutes ago, Mick501 said:

The one exception being if, in my brother's opinion, she or her family/friends had any deliberate involvement in the death.

Any type of plan will be followed by the same "statement" anyway as long as she is not trusted. 
 

And one more thing, if you decide so. She should "cash out" the fund by transferring it to ATM account (If the fund is in a savings) in case if date of withdraw is after date of death certificate and the bank notice this and investigate where the fund had been transferred. 

[Orton Rd]

Get the GF or Mrs on the account as a joint signatory, (not a joint account) then they can go in and take money out, the Bank never needs to know you are dead. We did it, works OK and no need for court and probate nonsense when the time comes. Probably technically illegal if you have snuffed it, but so many other things here are. Got an ATM card as well but if that gets stuck in the machine as has happened she would be stuck.

[Orton Rd]

19 minutes ago, Gulfsailor said:

After death the bank will freeze the funds when they receive a copy of the death certificate. Then after probate by the court the funds get released to the estate, which gets divided by the executioner according to a will or as per standard inheritance laws.

If there is any possibility that there may be a fight over the inheritance, don’t be smart and take the money out before the account is frozen, as that’s a serious crime. 

How are they going to get the death certificate if nobody sends them one?

[lungbing]

21 minutes ago, Gulfsailor said:

After death the bank will freeze the funds when they receive a copy of the death certificate. Then after probate by the court the funds get released to the estate, which gets divided by the executioner according to a will or as per standard inheritance laws.

If there is any possibility that there may be a fight over the inheritance, don’t be smart and take the money out before the account is frozen, as that’s a serious crime. 

Who is going to tell the bank and give them a copy of the death certificate?

[lopburi3]

15 minutes ago, The Theory said:

And one more thing, if you decide so. She should "cash out" the fund by transferring it to ATM account (If the fund is in a savings)

What is an "ATM" account?  The only accounts most people have here are savings accounts and they can have ATM access or not.  I suspect you mean transfer to an account with ATM access if not already in such an account?  Remember any access by a non account holder after death will not be legal.  If they are in fact next of kin it probably will not become an issue - but it could.

[The Theory]

..

[The Theory]

34 minutes ago, lopburi3 said:

What is an "ATM" account?  The only accounts most people have here are savings accounts and they can have ATM access or not.  I suspect you mean transfer to an account with ATM access if not already in such an account?

It was not difficult to understand what I meant!!!!! Was it ?!!!!!

I heard that when people get old become extremely picky and want to enforce the same thing in their own words.   ????????????????  In case they can become the original poster. ????????????
 

34 minutes ago, lopburi3 said:

Remember any access by a non account holder after death will not be legal.  If they are in fact next of kin it probably will not become an issue - but it could.

And this is what I posted, please don't repeat it to me !!!!!!!????

 

[Peterphuket]

2 hours ago, Gulfsailor said:

After death the bank will freeze the funds when they receive a copy of the death certificate. Then after probate by the court the funds get released to the estate, which gets divided by the executioner according to a will or as per standard inheritance laws.

If there is any possibility that there may be a fight over the inheritance, don’t be smart and take the money out before the account is frozen, as that’s a serious crime. 

When you look to post #4, how they know who was withdraw the money?

The ATM stay on name of the person who is death.

[Gulfsailor]

1 hour ago, Peterphuket said:

When you look to post #4, how they know who was withdraw the money?

The ATM stay on name of the person who is death.

What do you think happens when I report my ATM card stolen, and subsequently it is being used to take money out of my account? The police will investigate and among other will get access to the camera footage of the ATM machine.

In the case of a death the bank will notify the court if an account was accessed after the time of death on the death certificate. So unless you are the only (undisputed) heir, I really advise strongly against doing that. You’ll get away with it from abroad, but you can only take out a limited amount that way. 

[Peterphuket]

13 hours ago, Gulfsailor said:

What do you think happens when I report my ATM card stolen, and subsequently it is being used to take money out of my account? The police will investigate and among other will get access to the camera footage of the ATM machine.

In the case of a death the bank will notify the court if an account was accessed after the time of death on the death certificate. So unless you are the only (undisputed) heir, I really advise strongly against doing that. You’ll get away with it from abroad, but you can only take out a limited amount that way. 

When you dead?

We talking about somebody who is dead.

[Peterphuket]

13 hours ago, Gulfsailor said:

What do you think happens when I report my ATM card stolen, and subsequently it is being used to take money out of my account? The police will investigate and among other will get access to the camera footage of the ATM machine.

In the case of a death the bank will notify the court if an account was accessed after the time of death on the death certificate. So unless you are the only (undisputed) heir, I really advise strongly against doing that. You’ll get away with it from abroad, but you can only take out a limited amount that way. 

Listen, I do the same, I have also 800 k on a account here, it is only allowed on your name, so when I'm dead no one get the money.

For that reason relatives from me have my atm card.

Nothing wrong with that.

[lopburi3]

14 minutes ago, Peterphuket said:

Listen, I do the same, I have also 800 k on a account here, it is only allowed on your name, so when I'm dead no one get the money.

For that reason relatives from me have my atm card.

Nothing wrong with that.

As has been said it is not legal for someone else to access your account if in your name only after your death so there could be issues - especially so if that access was not made by those deemed to receive those funds - it is those removing funds that could have the legal issues.

[mrwebb8825]

On 9/4/2020 at 7:49 PM, Orton Rd said:

Get the GF or Mrs on the account as a joint signatory, (not a joint account) then they can go in and take money out, the Bank never needs to know you are dead. We did it, works OK and no need for court and probate nonsense

OK, so if you are dead, how are you posting this???

[lopburi3]

3 minutes ago, mrwebb8825 said:

OK, so if you are dead, how are you posting this???

[meechai]

17 minutes ago, mrwebb8825 said:

OK, so if you are dead, how are you posting this???

Silly rabbit ...If your posting on TVF your not alive ????

[meechai]

On 9/4/2020 at 12:41 AM, Max69xl said:

At Bangkok Bank a few years ago they wanted me to add a beneficiary to my account. Name, address and phone number. I don't know how it works at K-Bank even though I have an account there as well. They must have something similar and the branch manager should know how it works. 

Same in my case at Bangkok Bank a beneficiary was chosen