Brokerage account Advice needed

[50cruff]

Hi all

 

A bit of advice on the way to go. 

Last Week I inherited from a USA relative a combination of USA Municipal Bonds and Cash. The Bonds and Shares are to be split 4 ways and my share currently  has a current market  value of about $65,000 USD. The Bonds and Cash are held in the deceased's Merrill Lynch account in the USA. They have asked the other 3 people who all are USA Citizens and live in the USA to open Brokerage Accounts  and they will transfer them their share of the Municipal Bonds and cash. No problem for them. They have asked me to open a brokerage account in Thailand ( or elsewhere ) and they will transfer to it my share of the Municipal Bonds and Cash.

I plan to sell the USA Municipal Bonds, build a swimming pool and buy my wife more shoes and handbags.

About me: I am a retired Dual Citizen of Canada/ UK . I am living in Thailand on a Marriage Visa with my Thai wife and Thai Children who also have the same dual citizenships as me..I have a standard Savings Account with SCB.

So i need some advice on who to go to in Thailand who can receive the USA Municipal Bonds and cash and place them in an account in my name., and then sell them and transfer the proceeds to my SCB account.

I also have bank accounts in the UK and still have our home over there so it may be easier to open a Brokerage account in the UK.

My preference is to open an account here in Thailand and sell the Municipal Bonds but if its going to be a lot of hassle i'm pretty sure it won't be a hassle to do it over the phone in the UK.

Any advice from our very good forum members and their point of view is most appreciated.

Edited October 6, 2020 by 50cruff

[onebir]

Easiest of all might be to open an international brokerage account (you could check Schwab International or Interactive Brokers for starters).

[Oxx]

I'm not familiar with the American system, but surely the administrator of relative's estate (referred to as an "Executor" in many countries) can simply instruct Merill Lynch to sell your portion of the estate assets and then transfer the proceeds to your bank account in Thailand.

 

If that's not possible, it's a relatively straightforward to open an account with International Brokers in the USA as a Thai resident, will the application procedure being done all online.  (I did it myself last year.)

[50cruff]

Thank you both ,Oxx and Onebir , for the useful advice.