Joint bank account with my Thai wife

[sangtip2]

If she were to die does her family have a legal claim on all or part of the money ?          Would the account be locked as soon as the bank found out that she had died?     

[ubonjoe]

Not visa or extension related. Moved to the Marriage and Divorce Forum.

[soi3eddie]

Would the account be locked if the bank found out YOU (as a foreigner) had died? Unlikely either way. Probably best to ask the bank.

I'm guessing that as you're the joint account holder, the relatives would have no claim. Bet they wouldn't try to claim if it was overdrawn!

Seriously though, ensure you have an ATM card or online access to the account and withrdraw all funds to your own account before telling the bank. 

I've had joint accounts with my ex and really it serves no purpose. She'll have her own account anyway so just transfer to hers when she needs money.

 

Edited February 20, 2022 by soi3eddie

[sangtip2]

On 2/20/2022 at 6:11 PM, soi3eddie said:

Would the account be locked if the bank found out YOU (as a foreigner) had died? Unlikely either way. Probably best to ask the bank.

I'm guessing that as you're the joint account holder, the relatives would have no claim. Bet they wouldn't try to claim if it was overdrawn!

Seriously though, ensure you have an ATM card or online access to the account and withrdraw all funds to your own account before telling the bank. 

I've had joint accounts with my ex and really it serves no purpose. She'll have her own account anyway so just transfer to hers when she needs money.

 

By telling me to withdraw all the funds before telling the bank that my wife had died you must believe there could a problem if the bank knew first.      The reason we decided on a joint account (Which holds most of our money)  was to give the surviving spouse all the money without going through the hassles of a will.     I did ask the bank and the answer was much the same as yours  "Get the money out fast"   and that worries me.   If it has to be done fast it probably is not legal. Naturally the bank had nothing in writing. 

[sangtip2]

On 2/20/2022 at 5:40 PM, ubonjoe said:

Not visa or extension related. Moved to the Marriage and Divorce Forum.

WoW  Joe    I would guess that more than 75% of the "New topics"  are not visa related - didn't know that was a rule.   Guess it only applies to me.  Sorry

[Sheryl]

1 minute ago, sangtip2 said:

WoW  Joe    I would guess that more than 75% of the "New topics"  are not visa related - didn't know that was a rule.   Guess it only applies to me.  Sorry

 

You had posted this in the Thai visa forum. Items posted there are to be only those related to visas.

 

There is no general "New topics" forum, all topics have to be posted in a specific forum.

 

I think however you will get best answers to this from members with expertise in banking and finance so I am moving this to that forum.

[lungbing]

I have a joint account with my wife at Kasikorn bank in Khon Kaen.  We specifically asked them if I died would my wife have normal access to the account and they said "Yes".  They said if my wife (widow by then) took in a copy of the death certificate they would change the account to her name only.

 

But even if the bank  would play  silly devils, who is going to tell them of the death of one of us?