All My Worldly Goods

[jackmuu]

Here's a thought. I never really bothered with making a will as in the UK your next of kin / spouse get your estate anyway if you die.

But now I am married to a foreigner.

Will she still be taken care of?

Might have to get round to writing a will then, has anyone used one of those online services?

Any thoughts?

[Mossfinn]

Here's a thought. I never really bothered with making a will as in the UK your next of kin / spouse get your estate anyway if you die.

Not always the case, there can be complications, I assure you.

Moss

[rychrde]

One cheaper option, and probably more secure, is to pick someone you REALLY trust and give them power of attorney. Then write out your final wishes - including details of how to get the money you have saved or insurance! It can even be done in 2 documents, one with the rules, the other with technical details. Make sure you keep the 2nd part updated if change accounts etc.

If you are living here in Thailand then unless you have personal objections, then just request you go through a thai funeral. If you have your money offshore I cannot see how your home country can then charge your wife any death taxes. Most don't to a spouse anyway.

Finally, a will is just a piece of paper. Unless you have a lot of money and complicated finacial structures then you can just download last wills for free from many websites. just google it!

rych

[Eastender]

Get things in joint names if you can as here in the UK (dunno about Thailand) a partner can have immediate access instead of having to produce proof or wait for legal proceedings.

[sexy man]

make a thai will it only covers assets in thailand and is covered by thai law, i have made one with my lawer as executer [forget how to spell word right] so he will see my wishes are done. if you don,t have one then it is nearly impossible to get money out of thailand

[LivinLOS]

One cheaper option, and probably more secure, is to pick someone you REALLY trust and give them power of attorney. Then write out your final wishes - including details of how to get the money you have saved or insurance! It can even be done in 2 documents, one with the rules, the other with technical details. Make sure you keep the 2nd part updated if change accounts etc.

If you are living here in Thailand then unless you have personal objections, then just request you go through a thai funeral. If you have your money offshore I cannot see how your home country can then charge your wife any death taxes. Most don't to a spouse anyway.

Finally, a will is just a piece of paper. Unless you have a lot of money and complicated finacial structures then you can just download last wills for free from many websites. just google it!

rych

I had a neighbour with a Thai wife of 15 years or so.. He died and it turned out he had 40 mil baht or so tucked up in a Singapore bank and either no will or a badly enforceable will.. His estranged kids who he had no contact with swooped in, got the cash, and the Thai wife was left getting 0.. she was out on her ear with no home (rented etc or support network or anything)..

Given that he had the wife and didnt get on with his kids that was spectacularly bad estate planning..

I know my offshore bankers said they will not accept a power of attorney presented after a death (!!) I then wanted to lodge one and they didnt want to accept it.. I asked the to draw up an acceptable one and they never did just constant delays for months, our lawyers will be in touch type thing.. So I made all my bank accounts dual accounts with my brother.

[Dakhar]

One cheaper option, and probably more secure, is to pick someone you REALLY trust and give them power of attorney. Then write out your final wishes - including details of how to get the money you have saved or insurance! It can even be done in 2 documents, one with the rules, the other with technical details. Make sure you keep the 2nd part updated if change accounts etc.

If you are living here in Thailand then unless you have personal objections, then just request you go through a thai funeral. If you have your money offshore I cannot see how your home country can then charge your wife any death taxes. Most don't to a spouse anyway.

Finally, a will is just a piece of paper. Unless you have a lot of money and complicated finacial structures then you can just download last wills for free from many websites. just google it!

rych

I had a neighbour with a Thai wife of 15 years or so.. He died and it turned out he had 40 mil baht or so tucked up in a Singapore bank and either no will or a badly enforceable will.. His estranged kids who he had no contact with swooped in, got the cash, and the Thai wife was left getting 0.. she was out on her ear with no home (rented etc or support network or anything)..

Given that he had the wife and didnt get on with his kids that was spectacularly bad estate planning..

I know my offshore bankers said they will not accept a power of attorney presented after a death (!!) I then wanted to lodge one and they didnt want to accept it.. I asked the to draw up an acceptable one and they never did just constant delays for months, our lawyers will be in touch type thing.. So I made all my bank accounts dual accounts with my brother.

So it did not work out for her as planned. Pitty really

[GuestHouse]

NEVER EVER EVER EVER SIGN OVER POWER OF ATOURNEY TO ANYONE IN THAILAND

I've posted on wills several times here in TV, I'll dig around and see if I can find one of my threads and link to it.

[jackmuu]

All my assets etc. are in the UK, I am close to my parents and they would look after the Mrs in the even, but maybe an online will might not be a bad idea?

[naka]

All my assets etc. are in the UK, I am close to my parents and they would look after the Mrs in the even, but maybe an online will might not be a bad idea?

What's the problem with making a UK will ?

Naka.

[GuestHouse]

There's some information and a few things to think about in this link Wills for Foreigners

Before making a DIY will you need to discuss the traps with a lawyer, moving overseas, death overseas, pensions and investments held in different countries create a number of problems with wills. Take legal advice.

And it is not expensive, my own will cost me around GBP300, a very small amount to pay for peace of mind.

[jackmuu]

All my assets etc. are in the UK, I am close to my parents and they would look after the Mrs in the even, but maybe an online will might not be a bad idea?

What's the problem with making a UK will ?

Naka.

I am talking about a UK will and how it would apply to a foreign spouse.

[naka]

All my assets etc. are in the UK, I am close to my parents and they would look after the Mrs in the even, but maybe an online will might not be a bad idea?

What's the problem with making a UK will ?

Naka.

I am talking about a UK will and how it would apply to a foreign spouse.

It matters not a whit which country your wife is from ... She is your wife.

Naka.

[Ricardo]

All my assets etc. are in the UK, I am close to my parents and they would look after the Mrs in the even, but maybe an online will might not be a bad idea?

What's the problem with making a UK will ?

Naka.

Tax and Hassle - in many cases.

UK Inheritance Tax often still applies, even although you may be non-resident for Income Tax, and accepted as such by HM Infernal Revenue. The problem is that you are probably still UK domiciled. So any assets, in your own name, are taxable at 40% upon your death, above the £300k exemption level, which isn't such a high value, these days.

It is harder to change your domicile, amongst other things I'm told you must have closed all of your UK bank/B.Soc. accounts, have made a foreign (not UK) will, and preferably have a burial-plot arranged for overseas ! I'm currently trying to achieve this myself.

Hassle - if you're living in Thailand, but still have some affairs in your own sole-name back in the UK, then your grieving wife will have to arrange probate & closure of your affairs, in a foreign language and a foreign country. Not a legacy you would really want to leave her.

[GuestHouse]

I acted as executor or a English friend who died leaving a Thai wife and daughter, assets in the UK, including a house and pensions.

The process of following the instructions of his will was very straight forward, more importantly his will provided secure incomes for his wife and daughter, enabling them to have a secure future, his daughter to get an enducation and a good start in life.

Everything that was not protected by his UK will was removed, spent/squandered by his wife's family within weeks after his death.