Clear instructions to my wife in the event of my untimely demise!!

[DrJack54]

50 minutes ago, newnative said:

What's illegal if it's a joint account that allows either party to access the account and obtain funds independently?  My partner and I have several joint accounts that allow us to do that, as well.

Specifically the 800k for immigration purposes is not in a joint account. 

[khunPer]

17 hours ago, MarkT63 said:

Can anyone give some advice on the step-by-step things she would need to do to convert to a retirement visa in her own right?

If she is 50 years or older by that time, she can apply for annual extensions based on retirement, if she fulfill the economic criteria, i.e. for example 800k baht in a bank deposit.

[newnative]

2 hours ago, DrJack54 said:

Specifically the 800k for immigration purposes is not in a joint account. 

I have a separate individual account for the 800,000 for Immigration.  I was referring to joint accounts.

[DrJack54]

5 minutes ago, newnative said:

I have a separate individual account for the 800,000 for Immigration.  I was referring to joint accounts.

And what happens to the 800k in Thai bank account in your name if you fall off the perch. 

[Freddy42OZ]

20 hours ago, DrJack54 said:

Apart from the visa side of things she would also need to access your 800k held in your Thai bank account.

You might like to also ask in the banking forum for advice. 

 

 

 Doesn't your wife have full access to all your bank accounts?  

My girlfriend knows my ATM pin numbers and phone password and from there she has access to all my crypto accounts and overseas bank accounts etc.  

[DrJack54]

1 minute ago, Freddy42OZ said:

 Doesn't your wife have full access to all your bank accounts?  

My girlfriend knows my ATM pin numbers and phone password and from there she has access to all my crypto accounts and overseas bank accounts etc.  

I'm outta this thread.

It comes up often.

The fact is it's illegal to make any withdrawal from account by gf or whoever if you kark it.

I'm not saying it doesn't happen.

Like lot of guys here I have the 800k+ in account for immigration and separate account that I like to have minimum 1million baht.

Yes the gf knows my pin and giving it to her no problem.

I have looked into it and having her to start withdrawing funds when I'm dead is flat out illegal.

Do what suits yourself. 

[Thailand]

One other option whilst remaining with a dependent spouse is to have the husband as the dependent and bank account set up accordingly.

[Thailand]

7 minutes ago, DrJack54 said:

I'm outta this thread.

It comes up often.

The fact is it's illegal to make any withdrawal from account by gf or whoever if you kark it.

I'm not saying it doesn't happen.

Like lot of guys here I have the 800k+ in account for immigration and separate account that I like to have minimum 1million baht.

Yes the gf knows my pin and giving it to her no problem.

I have looked into it and having her to start withdrawing funds when I'm dead is flat out illegal.

Do what suits yourself. 

Provided the gf bumps you off and withdraws the funds just before that should cover the legal side of it. Well as far as the money side is concerned! ????

[hotandsticky]

12 minutes ago, DrJack54 said:

I'm outta this thread.

It comes up often.

The fact is it's illegal to make any withdrawal from account by gf or whoever if you kark it.

I'm not saying it doesn't happen.

Like lot of guys here I have the 800k+ in account for immigration and separate account that I like to have minimum 1million baht.

Yes the gf knows my pin and giving it to her no problem.

I have looked into it and having her to start withdrawing funds when I'm dead is flat out illegal.

Do what suits yourself. 

 

I agree with you 100%.

 

However, ATM and online withdrawals after death is a very practical way of avoiding circa 30k in legal fees to obtain a court approval to take the money out.

 

Personally, (despite the illegality) I would be inclined to recommend it with a Will as a back, that can be used if necessary.

[DrJack54]

6 minutes ago, hotandsticky said:

 

Personally, (despite the illegality) I would be inclined to recommend it with a Will as a back, that can be used if necessary

There is an expert on the forum @Tanoshi. He doesn't post much now.

Hopefully he might share some insight/opinion on this thread.

 

I'm going the "make a Will" route.

I just need to stop procrastinating.

 

[MarkT63]

1 hour ago, Freddy42OZ said:

 Doesn't your wife have full access to all your bank accounts?  

My girlfriend knows my ATM pin numbers and phone password and from there she has access to all my crypto accounts and overseas bank accounts etc.  

My wife has full access to all our accounts online. The money is not an issue.

[MarkT63]

Thanks to everyone for your responses.

Seems to be straight forward:

Make a will

Move some money around

Make sure she is fully prepared to change her O visa to one based on retirement - either now (not a huge fan of tying up another 800K though) 

or if somethign happens.

I assume she would only have seven days to sort this out after my demise? A bit tough on someone dealing with loss (even if it is only me)

 

[LikeItHot]

22 hours ago, DrJack54 said:

You make that sound easy and legal.

My partner has my pin. 

Don't think that will work. 

If she is not listed on the account that would actually not be legal.

[Freddy42OZ]

2 hours ago, DrJack54 said:

I'm outta this thread.

It comes up often.

The fact is it's illegal to make any withdrawal from account by gf or whoever if you kark it.

I'm not saying it doesn't happen.

Like lot of guys here I have the 800k+ in account for immigration and separate account that I like to have minimum 1million baht.

Yes the gf knows my pin and giving it to her no problem.

I have looked into it and having her to start withdrawing funds when I'm dead is flat out illegal.

Do what suits yourself. 

My point was to say that I find it weird when married people maintain private accounts.

The reason I said GF is because I'm not married.  As soon as we are married all our accounts will be merged into joint accounts.  Nothing illegal about her withdrawing from joint accounts if I dropped dead.  


 

[Thailand]

1 hour ago, MarkT63 said:

Thanks to everyone for your responses.

Seems to be straight forward:

Make a will

Move some money around

Make sure she is fully prepared to change her O visa to one based on retirement - either now (not a huge fan of tying up another 800K though) 

or if somethign happens.

I assume she would only have seven days to sort this out after my demise? A bit tough on someone dealing with loss (even if it is only me)

 

As I posted earlier, you could be the dependent.

[newnative]

3 hours ago, DrJack54 said:

And what happens to the 800k in Thai bank account in your name if you fall off the perch. 

     Same thing as everything else I possess--it's specified in my will.   I bequeath___________ to_________.  Etc., etc.   Eventually, it will go to whom I have designated it to, once the will is processed.

[itsari]

Choose wisely

[thailand49]

Are you and your wife not on speaking Terms?  

????

It is never too late to have a conversation instead of leaving a note or instructions. 

[bert bloggs]

On 3/30/2022 at 6:29 PM, Thailand said:

My partner has online access to all our accounts. She knows what she can do if I go first.  She is also dependent and she knows what to do in that case also.

My wife has access to all my accounts and our British bank account is joint, also her best mate is a lawyer and has a company,she made a lovely will for us ,even had a fancy cover  . Mind you it didnt say a lot different from the one i wrote myself .

[MarkT63]

2 hours ago, thailand49 said:

Are you and your wife not on speaking Terms?  

????

It is never too late to have a conversation instead of leaving a note or instructions. 

How the hell did you conclude we are not on speaking terms???

I love my wife so much, I just want her to be OK if I am suddenly not here

[roo860]

1 hour ago, bert bloggs said:

My wife has access to all my accounts and our British bank account is joint, also her best mate is a lawyer and has a company,she made a lovely will for us ,even had a fancy cover  . Mind you it didnt say a lot different from the one i swrote myself .

I was told that you can make a will and deposit it with the local amphur, just have it legally translated into Thai? Chiang Mai University legally translated my marriage certificate etc for my wife's 1st UK visa application. 

[DrJack54]

3 hours ago, thailand49 said:

Are you and your wife not on speaking Terms?  

????

It is never too late to have a conversation instead of leaving a note or instructions. 

What on earth does that have to do with legality of access to bank account funds.

Conversations amount to nothing in regards to access of funds 

Edited March 31, 2022 by DrJack54

[thailand49]

7 hours ago, DrJack54 said:

What on earth does that have to do with legality of access to bank account funds.

Conversations amount to nothing in regards to access of funds 

I mentioned nothing in regards to funds  but conversation is a foundation one needs. I suggest the op read his own statement right after the bike 500 C.C.

He responded to me " he love his wife "  I didn't imply in anyway he didn't. 

There is a understanding that things need to be written down account numbers and such but how about sitting down with your wife the one he loved the one he want to make sure she is OK,  then sit down and do it TOGETHER have a conversation as hard as it might be for some talk and put those thoughs on paper so when hopefully not for some time comes she knows herself what to do including gaining access to funds.  He ask for advice that is what I'm giving because from his statement it doesn't come across to me they talk enough? 

Edited April 1, 2022 by thailand49

[StevieAus]

21 hours ago, DrJack54 said:

I would suggest a lot of your plan is illegal. 

What is illegal?

If you have a joint bank account that allows either signatory to make withdrawals that is not illegal.

Perhaps not notifying the bank of the death, but notify them after making the withdrawal.

[Excel]

On 3/30/2022 at 6:02 PM, OneMoreFarang said:

a) tell her to hire an agent

b) tell her to ask here in this forum

c) are you sure she wants to follow your instructions when your dead? ???? 

And you missed out d)  And dear perhaps now you should learn to listen to people as I told you I was ill.  ????

[DrJack54]

20 minutes ago, StevieAus said:

What is illegal?

As stated few times I'm not going to rehash on this debate.

 

There are also accounts that are not joint.

The 800k for immigration purposes is not joint.

Many folk think even if accounts are not joint that with a pin or online banking access that the funds can be withdrawn.

That is not the case.

Random google quote on the matter.....(particularly relevant for non married couples......

 

"Joint accounts that you hold with somebody other than your spouse do not come with the right of survivorship. After your death, such an account will be handled according to your will".

 

Touching those funds would be illegal

 

Edited April 1, 2022 by DrJack54

[wombat]

On 3/31/2022 at 7:01 AM, wombat said:

From what I've read that happens before you've reached the freezer.

I'm not sure why or how that works?

Knock knock....does no one know the answer to the elephant in the room?

Don't tell me I've asked the to hard question that no one on TV sorry ASEAN can answer?

FMD...first time I've seen that.

[DrJack54]

12 minutes ago, wombat said:

Knock knock....does no one know the answer to the elephant in the room?

Don't tell me I've asked the to hard question that no one on TV sorry ASEAN can answer?

FMD...first time I've seen that.

I don't know how quickly the banks are informed. 

The first step is that the person's embassy is informed.

Many threads on the "what happens to your money when you die...."

Here is one. Enjoy.

 

 

[bert bloggs]

10 hours ago, roo860 said:

I was told that you can make a will and deposit it with the local amphur, just have it legally translated into Thai? Chiang Mai University legally translated my marriage certificate etc for my wife's 1st UK visa application. 

Mine is in Thai and English

[JimGant]

Wow, here we go again. Much discussion on all of this in the Will forum topics. But, just to summarize years of discussion, and conclusions:

 

Your 800k account for extension purposes needs to be solely in your name. BUT, you can designate your wife/gf as a co-signatory, meaning, she can show up at the bank with your passbook and do a withdrawal, as her signature shows up under UV. Just like being a power of attorney. But a power of attorney authority, in the West, dies upon death of the account owner. What about a co-signatory in Thailand? No info, and nothing in the code. Maybe, then, the wife can legally empty your account after your death -- or maybe not.... Probably makes no difference, as it's a fait accompli -- bank manager has no responsibility to freeze account if not nofified of death, and why would she be notified? Certainly my embassy/consulate has no knowledge of nor reason to have of my bank accounts.

Who else would be in the loop to notify the bank? No one.

 

And the wife is your Will's executor and sole beneficiary. It says, she gets it all. Who's the aggrieved party? Certainly not the bank manager -- she wasn't told that you're dead. What's the crime? Who presses charges?

 

Naaa. The wife is well briefed to log on to our Bangkok Bank internet accounts and to transfer my 800k immigration account amounts over to her. All this before I'm even cold, should somehow my bank manager becomes aware of my death. (In which case, the wife will pay my lawyer 50000 baht to begin a 6 mos probate. No thanks.)

 

No big deal, actually.