Taking Car Of My Kid ...

[expatman]

I have a Thai son that I'm supporting by sending money to his mom. right now I do this via Internet banking (very handy).

But I'm getting old and won't be around forever, and want to make some permanent arrangement.

Something like an annuity would be best - regular payments made from a sum deposited with a bank or financial institution.

Anyone ever done this before in Thailand ?

[GuestHouse]

I wrote at length on this issue in this thread Wills to Protect Your Dependents

Have a read through, not all of it will apply to you, and there may be things not covered. But do note the main issues in particular how to protect any wealth you leave, ideas on how to ensure (or at least try and ensure) money you leave is not frittered away.. and don't miss the warnings about not trusting the Thai legal system.

[edit = Link Corrected]

Edited May 3, 2007 by GuestHouse

[Irene]

I have a Thai son that I'm supporting by sending money to his mom. right now I do this via Internet banking (very handy).

But I'm getting old and won't be around forever, and want to make some permanent arrangement.

Something like an annuity would be best - regular payments made from a sum deposited with a bank or financial institution.

Anyone ever done this before in Thailand ?

expatman,

Unfortunately, Thailand has no trust law. I also have the same wish but simply cannot locate one institution to do the annuity payment in Thailand. I did ask a few insurance companies and none has this type of annuity policy.

You may have to originate the payments from UK or USA either through an insurance company or a bank to pay annuity to your beneficiary in Thailand. I have yet to firm up the arrangement.

[GuestHouse]

You may have to originate the payments from UK or USA either through an insurance company or a bank to pay annuity to your beneficiary in Thailand. I have yet to firm up the arrangement.

As I say in the link I posted above, I strongly suggest you do just that.

Placing money in Thailand and under the control of Thai law/lawyers after your death is to my mind an extremely risky thing to do.