Bank account beneficiary?

[lopburi3]

11 hours ago, lungbing said:

Who is going to tell the bank you are dead?

Anyone who wants a piece of the pie?  The police and Embassy will both be immediately informed of death by law.

[Guest Miguel Delrio]

21 hours ago, khunPer said:

The OP didn't mention anything about deposit account for extension of stay, just asked about beneficiary.

Some immigration offices accepts shared accounts, if the deposit is doubled up, i.e. 800k baht for extension based on marriage, and 1.6 million baht for extension based on retirement...????

Original post "You may suggest that I make it a joint account, but since I need this particular account for my annual retirement visa application that is not possible."

 

I never heard about doubling the amount on a shared account. Have to check that. Thanks. Leaning toward the holographic will alternative and may take that route. This has all been very helpful thanks everyone!!

 

Edited November 28, 2021 by Miguel Delrio
added info

[In Full Agreement]

On 11/25/2021 at 8:09 PM, digbeth said:

You can give them power of attorney to withdraw/manage your account, this can be the form of letter witnessed and recorded at the bank, or just a signature on the back of the withdrawal slip for one time use

 

I guess the lawyer who drew up my will was wrong when he told me your proposal isn't possible in Thailand.

 

[cmarshall]

On 11/25/2021 at 8:34 PM, HighPriority said:

I would think the Will is even more important given foreign assets.

The suggestion of the debit card and pin has merit.

Foreign assets are not going to be conveyed by a Thai will.

 

Also, the OP can just register his marriage at the local amphur which is relatively painless.  Then, in the absence of a will his wife will inherit his bank account.

Edited November 28, 2021 by cmarshall

[khunPer]

3 hours ago, Miguel Delrio said:

Original post "You may suggest that I make it a joint account, but since I need this particular account for my annual retirement visa application that is not possible."

 

I never heard about doubling the amount on a shared account. Have to check that. Thanks. Leaning toward the holographic will alternative and may take that route. This has all been very helpful thanks everyone!!

Check with the local immigration office, they all have slightly different rules when it comes to details. The otherwise strict immigration office I use, accepted for years also deposits placed in Thai bond mutual funds - the so-called "Fund Book" that many Thai banks offers - but unfortunately they changed policy some years ago, so now it has to be 12-month fixed deposit for having some interest gain.

 

Otherwise a Thai will - which is very easy to make - can state that deposit account number in named bank shall go to a named person; however it may take a couple of years to get the money free from the estate, so not available for instant access.

 

I keep some funds in shared accounts with my girlfriend, the money is part of my security savings and I'm in that way giving another person access to the funds, if I should become in a condition, where I cannot do it. Shared accounts are of course a question of trust. I furthermore stated in my Thai will that any money in a shared account goes to the other named account holder, to make sure there would be no legal problems if more money than half the balance is withdrawn from a shared account...????