Retirement extension (x18 yrs) on 800K banked -- but now I need Combo method or 65k/month income method. How to do it?

[nzrick]

My aim is to reduce the 800k in the bank to the absolute minimum possible. I am not legally married to my Thai wife (her choice was village wedding.) I have terminal illness - ALS, and wish her to have all my assets now if possible.

 

what are the requirements and ways to achieve my aim?

[sammieuk1]

Give her your card and pin would be my choice when I don't need it anymore good luck???? 

[BritTim]

Make sure you have written a clear will. Spending a few baht to a lawyer to make sure it is fully enforceable is prudent.

 

If you wish to switch to an extension based on income, you will need an embassy letter confirming your income (if from countries that will still provide this) or, otherwise, must show transfers into your Thai bank account from overseas of 65,000 baht (every month) starting from when you are no longer in compliance with the money deposited in bank regulations.

[Damrongsak]

My sympathy, my younger brother died in 2019 due to ALS and a cousin my age now has it. 

 

Hopefully you will get some good advice here.  I'm not local. But giving her access to the account and a `Will sound like the start of a plan.

[fredscats]

Agent,cheapest Ive seen is 9.5 k for 12 month extension  and that is inside Immigration compound

[fredscats]

1 hour ago, BritTim said:

Make sure you have written a clear will. Spending a few baht to a lawyer to make sure it is fully enforceable is prudent.

 

If you wish to switch to an extension based on income, you will need an embassy letter confirming your income (if from countries that will still provide this) or, otherwise, must show transfers into your Thai bank account from overseas of 65,000 baht (every month) starting from when you are no longer in compliance with the money deposited in bank regulations.

No need.    at start of 12 month extension start bringing 65000 every month,it will be segmented at immigration next time there

[BritTim]

7 minutes ago, fredscats said:

No need.    at start of 12 month extension start bringing 65000 every month,it will be segmented at immigration next time there

You will probably not get a new extension if you have not been in compliance with the requirements for the previous year. You cannot have an extension that fails to comply with either money in bank or income and just say "never mind, I will be in compliance from now on". If you are saying that, having been in total compliance up to the time of your new extension, it is OK to inform immigration that you are going to switch to income method from now on, that is, of course, permissible. But, most people will not bother to tell immigration they are switching to income method while they still qualify under money in the bank.

[ubonjoe]

To apply using the combination of money in the bank and income to reach a total of 800k baht you will need proof of 12 months of transfers from abroad or proof of income from your embassy if they still do it.

The money will need to be in the bank for 2 months before you apply and then for 3 months after you apply and then at least half of it (the amount depends up where you apply) for the remainder of the year.

[Henryford]

1 hour ago, fredscats said:

No need.    at start of 12 month extension start bringing 65000 every month,it will be segmented at immigration next time there

If he is using the combination method say 50/50 i presume he only needs to bring in 32500 a month and have 400k in the bank.

[ubonjoe]

3 minutes ago, Henryford said:

If he is using the combination method say 50/50 i presume he only needs to bring in 32500 a month and have 400k in the bank.

It is a total of  800k baht. Your total would only be 790k baht. He would need 10k baht more in the bank

[Moonlover]

6 hours ago, sammieuk1 said:

Give her your card and pin would be my choice when I don't need it anymore good luck???? 

Bank accounts of a deceased person are frozen until probate is completed. It would be a criminal offence for his G/F to access it or attempt to.

[KannikaP]

18 minutes ago, ubonjoe said:

It is a total of  800k baht. Your total would only be 790k baht. He would need 10k baht more in the bank

But of course, 12 x 65k = only 780k but accepted. TIT. LOL

[lopburi3]

7 hours ago, nzrick said:

I have terminal illness - ALS

Life itself is terminal as I am sure you know - ALS can be a long path, and in the case of my mother was a misdiagnosis (she lived to 91 after getting the news in her 40's).   You might want to make marriage official but if that not in the cards make sure you get a valid will made up and if home country assets involved make there also.   I would also talk with your Embassy for advice as they take control of your body after death, as understand you do not want open questions hanging even if it may be in the future.  

 

The 800k only needs to be in account 5 months - so if more than 3 months after extension you can remove almost 400k now and not replace until 2 month prior to next extension.  

  

[ubonjoe]

14 minutes ago, KannikaP said:

But of course, 12 x 65k = only 780k but accepted. TIT. LOL

But for the combination option it has to total 800k baht.

The difference in numbers between the 2 options is rounding down the amount of income when they did the rules back in 2003. It would be 66.6666 income if they didn't.

It is the opposite for for extensions based upon marriage. It is 400k baht in the bank or 40k baht income (480k baht). Not sure why they rounded it up to 40k baht instead of 35k baht.

[Moonlover]

@nzrick. This is just  a guess, but I'm assuming that you originate from New Zealand. (the clue's in the user name ???? ) If this is so you're one of the lucky ones who can still obtain an embassy letter of income.

 

The reason I mention this is that, given the progressive nature of your illness, compiling the paperwork required to prove a monthly income could become increasingly difficult over time. But with an embassy letter it would be much easier. 

 

Something for you consider when deciding your next course of action. Good luck and I hope it all goes well for you.

[fredscats]

4 hours ago, BritTim said:

You will probably not get a new extension if you have not been in compliance with the requirements for the previous year. You cannot have an extension that fails to comply with either money in bank or income and just say "never mind, I will be in compliance from now on". If you are saying that, having been in total compliance up to the time of your new extension, it is OK to inform immigration that you are going to switch to income method from now on, that is, of course, permissible. But, most people will not bother to tell immigration they are switching to income method while they still qualify under money in the bank.

never had the slightest problem walking in copies of residence/photo  giving them up with bank statement and off they go

[Brick Top]

11 hours ago, BritTim said:

You will probably not get a new extension if you have not been in compliance with the requirements for the previous year. You cannot have an extension that fails to comply with either money in bank or income and just say "never mind, I will be in compliance from now on". If you are saying that, having been in total compliance up to the time of your new extension, it is OK to inform immigration that you are going to switch to income method from now on, that is, of course, permissible. But, most people will not bother to tell immigration they are switching to income method while they still qualify under money in the bank.

Yes I totally agree , I have had 12 extensions based on me having over 800,000 in a Thai bank.

I myself don't really want to just leave this 800,000 sat in a Thai bank as I think serious problems may be looming here with the banks mainly due to the % of unsecured loans they have out. So two months before my last extension in March this year I strated transfering in 66,000 per month via Transferwise to a Bangkok bank account and ticked the long stay Visa in Thailand option so it always shows as an international transfer.

I then still kept the 800,000 in my Krungsri bank as the immigration officer advised it stay in the bank until June a full 3 months to comply with my current Visa extension.

[ubonjoe]

11 minutes ago, Brick Top said:

I then still kept the 800,000 in my Krungsri bank as the immigration officer advised it stay in the bank until June a full 3 months to comply with my current Visa extension.

What about the 400k baht after 3 months. They can ask for proof of that when you apply for your next extension.

[khunPer]

16 hours ago, nzrick said:

I have terminal illness - ALS, and wish her to have all my assets now if possible.

Even if you change your extension of stay, you should make a Last Will covering your assets in Thailand. It's simple and you can do it by just writing clearly yourself, what you wish in your own language or English, eventual get it translated also to Thai language, then go to the local amphor district office together with two witnesses, and sign the document there (remember ID for example passport), and ask them to register it, and either let them keep the original will in file, or hand it to your wife. You can for example just state that all your assets shall belong to (your wife's name) after your death, eventually also state what shall happen with your body, for example cremation; according to my source you can even have the amphor office to write the will for you, and read it back to you, before you sign it, but probably only in Thai language. There is no inheritance tax in Thailand.

You can also ask a lawyer for assistance, but your own, preferably handwritten, will signed at the amphor office is equal legal, according to "Thai Law for Foreigners".

 

Sad about your illness.

[piston broke]

Just use an agent fella .....

 

"you'rs is no disgrace" .....

[fredscats]

50 minutes ago, piston broke said:

Just use an agent fella .....

 

"you'rs is no disgrace" .....

Just creating problems,..use an agent.  Do not think they do 50/50 now,income plus deposit.    Immigration want the use of agents,money in their pocket

[EricTh]

10 hours ago, Moonlover said:

Bank accounts of a deceased person are frozen until probate is completed. It would be a criminal offence for his G/F to access it or attempt to.

What is probate?

[lopburi3]

6 minutes ago, EricTh said:

What is probate?

The legal process to process estate - which often takes a few months and without a will or legal marriage she would likely not receive anything so removal of estate funds from bank account could be serious issue.  

[Moonlover]

27 minutes ago, EricTh said:

What is probate?

The official proving of a will. I'm told it takes about 2 months here.

[ubonjoe]

2 minutes ago, Moonlover said:

The official proving of a will. I'm told it takes about 2 months here.

It only happens if there is no will and/or somebody contests the awarding of the estate.

[ripstanley]

Go and talk to your local Immigration office. If they know your case they may help. My local office did. Good luck

[Mr Wong]

If you go with your partner to your branch of the bank account they can put a special provision on your account that if you die then your partner can access the account . . . for a one off fee of 100 baht per account to set up the provision.

 

My experience with Thai lawyers is that they will set the will up in such a way that they will suck some hefty fee from your partner on top of the original fee for writing a will.

 

 

[Brick Top]

3 hours ago, ubonjoe said:

What about the 400k baht after 3 months. They can ask for proof of that when you apply for your next extension.

Well I am going to keep the whole 800,000 in my Krungsri account until I actually get my next extension using the 65,000 method. I think you just cant take any chances Joe and at the moment it's not really viable to transfer funds  out of Thailand as the Baht is not as strong as it was last year when I sent a big amount out at 39 to the £.

 

[nzrick]

wife called Hat Yai immigration last week to ask and the girl there said to change from 800k in bank method to income method i must first show proof of 12 monthly deposits of 65k before extension renewal date. that really is correct then?

girl also said combo method not possible.  that seems incorrect then?

[DrJack54]

1 hour ago, Mr Wong said:

If you go with your partner to your branch of the bank account they can put a special provision on your account that if you die then your partner can access the account . . . for a one off fee of 100 baht per account to set up the provision

Which bank. Been there tried that with a few banks. 

Never heard of what your suggesting is possible.