800k in bank - what happens if I pass away?

[DrJack54]

11 minutes ago, sanuk711 said:

She has a letter from me requesting that she does this to pay off certain debts and expense's --our BKK lawyer tells me is fine.

Get a new lawyer.

[sanuk711]

4 minutes ago, DrJack54 said:

Get a new lawyer.

As I have written here before Dr Jack--That ones taking me through 3 year court case against a Thai company ,  in which we won---

 

I guess I could swap him for the comment posters in ASEAN though................

[bkk6060]

Park the money some place else and use an agent for your extensions.

[billd766]

2 hours ago, DrJack54 said:

That is illegal and potentially cause big issues. 

Big issues to who?

 

2 hours ago, DrJack54 said:

If used for extension purposes the joint account would not be an option

Yet for me to open a single name account in Kbank I have to be there with all my documents and so does my wife with all her documents.

[DrJack54]

2 minutes ago, billd766 said:

Big issues to who?

 

Yet for me to open a single name account in Kbank I have to be there with all my documents and so does my wife with all her documents.

The "big issues" would be for anyone using/accessing your bank account when you are dead.

 

Second bit....got zero idea why your wife needed to be with you to open an account.

Can only think you did not have a non O at that time. 

 

[billd766]

1 hour ago, roo860 said:

My daughter's business partner's father is a lawyer, he says you can register a will at local Amphur, need a witness to counter sign, and it's free to do.

Anyone else used this method?

Is it possible to get a copy of that will in English also?

[billd766]

1 minute ago, DrJack54 said:

The "big issues" would be for anyone using/accessing your bank account when you are dead.

 

Second bit....got zero idea why your wife needed to be with you to open an account.

Can only think you did not have a non O at that time. 

 

The second part was was a conversation with KBank call centre last week.

 

[sanuk711]

16 minutes ago, billd766 said:

Yet for me to open a single name account in Kbank I have to be there with all my documents and so does my wife with all her documents.

I sympathies with you---seems in Thailand,  it counts on not only different banks--but different branches, some will have you running back and forth with everything-- some just accept the minimum.

Someone posted a few days back that they couldn't get an account in BKK but opened one the same day in Pattaya.

[EVENKEEL]

38 minutes ago, bkk6060 said:

Park the money some place else and use an agent for your extensions.

Yep, excellent plan.

[IvorBiggun2]

You need to make a 'Living Will' at your local Amphur. I believe a 'Living Will' is uncontestable in Thailand.

 

 

Quote

 

How do you make a live will?

 

 

Your living will should exist in a physical form — meaning it should be printed, so you have a hard copy. You should sign your living will, and have it witnessed and notarized according to your state's laws. Most states require two witnesses to a living will, and some also require a notary's seal.

 

No need for a lawyer what so ever.

[roo860]

34 minutes ago, billd766 said:

Is it possible to get a copy of that will in English also?

Would think so, chiang mai uni have a dept where they translate documents to English and officially stamp them. Had my marriage cert and yellow book translated there, when my wife first travelled to UK. 

Edited July 17, 2022 by roo860

[IvorBiggun2]

6 minutes ago, roo860 said:

Would think so, chiang mai uni have a dept where they translate documents to English and officially stamp them. Had my marriage cert and yellow book translated there, when my wife first travelled to UK. 

I thought that can only be done by the 'Ministry of Foreign Affairs'?

[Richard 2020]

I have had a will made by a lawyer! 

Thai and English! With 3 witnesses who have signed, plus the copy of their ID Card !

There are, among other things, also the copies of the bank books.

 

This is actually the same in Thailand as in Europe.

The will is opened by the court, and there is a waiting period whether someone speaks out against this will!

Then, after about 6 weeks to 3 months, the will is executed!

And everything there is executed!

 

For this reason, the heiress should be accessible to some cash to bridge the waiting period!

 

Important: In case of death, the accounts are immediately blocked!

 
So nothing with app or ATM card!

And the attempt, which does not go unnoticed, is criminal!

 

[roo860]

14 minutes ago, IvorBiggun2 said:

I thought that can only be done by the 'Ministry of Foreign Affairs'?

All were accepted for the UK visa application, as all supporting docs have to be in english. 

[Liverpool Lou]

3 hours ago, dick turpin said:

Basically you can kiss your asset goodbye

Garbage.  Assets of the deceased do not just disappear but he would be dead anyway so there'd be no one to kiss it goodbye assuming your assertion had any accuracy at all.

[Liverpool Lou]

3 hours ago, problemfarang said:

why dont you tell where you put your ATM card to your wife and your password? see, saved time and money

Why don't you read the OP?...

"The Account is in my name only -has no debit card so bank teller withdrawals only".

 

Regardless, your suggestion would be theft and fraud if she did it after his death.

Edited July 17, 2022 by Liverpool Lou

[Liverpool Lou]

3 hours ago, problemfarang said:

i think he has only 800K so if he dies wife need only 1 time use.. ATM card i mean.

His account does not have an ATM card but which ATMs would allow B800k to be withdrawn in one transaction, anyway?

[Liverpool Lou]

3 hours ago, problemfarang said:

so can he talk to the bank and appoint someone for his account after dead?

A will and probate do that.  Bank account assets are supposed to be frozen by the bank after being advised of the account holder's death until probate has been granted then the funds can be disbursed.    The wife can't just charge in and take everything.

[Liverpool Lou]

3 hours ago, BangkokAlan said:

Probably best to ask the bank to get a legitimate answer on what will be requited to release the funds to your wife should you pass away. 

The legitimate answer is probate!

[Liverpool Lou]

2 hours ago, sanuk711 said:

she can empty the account in just a week. She has a letter from me requesting that she does this to pay off certain debts and expense's --our BKK lawyer tells me is fine.

Unfortunately, your wishes do not overrule the probate laws.  All assets should be frozen by the bank on death of the account holder, removing assets before advising authorities/banks of the death is theft and fraud.  You need a lawyer who can tell you what is legal, not what could be done.

[Liverpool Lou]

1 hour ago, billd766 said:

4 hours ago, DrJack54 said:

That is illegal and potentially cause big issues. 

Big issues to who?

To whoever takes the funds illegally after his death.

[Liverpool Lou]

1 hour ago, IvorBiggun2 said:

You need to make a 'Living Will' at your local Amphur. I believe a 'Living Will' is uncontestable in Thailand.

A living will relates to medical treatment when you are unable to make that type of decision!

[Liverpool Lou]

5 hours ago, khunbillmex said:

Also does Immigration need to be informed when a farang has passed away?  Or does one go onto an Eternal Overstay?

The hospital where the deceased either dies or is taken after death informs the police (Immigration is a police department so nothing needs to be done in that regard.  What would it matter anyway?).  The police inform the Embassy, the Embassy takes it from there contacting family.

[marcus111]

I myself do not care what happens to the money.....!!!

I am dead...!!!

My girl will find a way to get for sure...!!!

It's the Thai in the Thai girl way...!!!

 

 

[Joebuzzz]

5 hours ago, hotandsticky said:

I find that odd....the OP makes it sound like 2 separate sole accounts (hers and his) are somehow 'linked'. The only way for that would be for her to have 3rd party authority on his account. I may have missed something. 

 

Online banking would also make post-death transfers possible (illegal, I accept).

I'm trying to figure out the "illegal" part.  If I give someone access to my account, to log in and to do transfers, why would that be illegal?  I'm the one giving permission. 

 

[Joebuzzz]

2 minutes ago, DrJack54 said:

Just check it out for yourself.

Like most folk I have various assets in Thailand and Oz...

You really think when I die various people can access my accounts even if I previously gave them pins etc.

Dream on 

Well, I guess the only time to keep the accounts fully funded is 2 months before and 3 months after extension renewal and hope you die in the other 7 months.  And by the way, your patronizing "Dream on" doesn't get it.  I was asking a simple question as to why it would be illegal.  I didn't realize the government would freeze a foreigners bank account if he died.  Seems kinda chickenshift to me.  If I dropped dead today my son would have all my money tomorrow and everyone else on the planet could <deleted> off.

[JimTripper]

I hate these money problems as we get older. It seems like they are ongoing with no real solution.

 

Even if you make the best of arrangements people have a way of challenging it and causing further problems.

????

Edited July 17, 2022 by JimTripper

[Joebuzzz]

20 minutes ago, JimTripper said:

I hate these money problems as we get older. It seems like they are ongoing with no real solution.

 

Even if you make the best of arrangements people have a way of challenging it and causing further problems.

????

Not sure what you meant by money problems.  I am not in Thailand right now.  I was there, am working on coming back.  Left in 2017.  I had an O-A I extended on to a retirement.  However, it seems that some of Thailand's issues are that they want to make it difficult to come back due to changing rules all the time.  I don't have money problems, I have more than enough monthly and cash.  It's now the thought that my son in the USA could have issues getting $20K plus back from the Thai government if I were to drop dead there.  I have no intention of buying property, no intention of getting married.  For the government to freeze my account and deny my son the right to take my money without a hassle is making me reconsider even going back.  Other places have their disadvantages also but for Thailand I see the major disadvantage is a military government.  40 years ago the the president changed in Mexico.  He robbed all foreigners bank accounts of all dollars.  Nothing you could do.  Soldiers picked up the cash in trucks.  It took 20 years to straighten it out diplomatically between the US and Mexico.  There has always been soldiers on the streets of Mexico.  I lived there 10 years, owned a company.  Won't go back ever.  I enjoyed my time in Thailand and would like to go back but it seems to me that if the government wanted to show some type of acceptance of foreigners retiring in Thailand, they'd create something consistent, easy to comply with, show consistency throughout the various immigration offices, and show some type of consideration for the thousands of retirees that spend thousands of dollars a month to be there.  For insurance, one month it's 400K baht,  the next it's 1,000,000, the next it's A million dollars,  next year a billion, with only a Thai insurance company.  LOL......  What if the USA did that to everyone?  I guess we wouldn't need a wall.

[French mate]

Sorry if im getting a bit out of the subject,  but this discution make me think, what happen if its a join account ? is the living person can windraw everything legaly after the dead of the other owner?
Does this would  legaly work too with the name added as "silent" ?

In my case i only need to keep 400k for tree month, so the rest of the year i could put it on another account, that would not be perfect, but cover 3/4 of the year time (based on the fact that i have a foolish total trust in my wife who already got all my banks passwords, and her finger print on the phone i use for banking).

[JimTripper]

4 hours ago, Joebuzzz said:

Not sure what you meant by money problems.  I am not in Thailand right now.  I was there, am working on coming back.  Left in 2017.  I had an O-A I extended on to a retirement.  However, it seems that some of Thailand's issues are that they want to make it difficult to come back due to changing rules all the time.  I don't have money problems, I have more than enough monthly and cash.  It's now the thought that my son in the USA could have issues getting $20K plus back from the Thai government if I were to drop dead there.  I have no intention of buying property, no intention of getting married.  For the government to freeze my account and deny my son the right to take my money without a hassle is making me reconsider even going back.  Other places have their disadvantages also but for Thailand I see the major disadvantage is a military government.  40 years ago the the president changed in Mexico.  He robbed all foreigners bank accounts of all dollars.  Nothing you could do.  Soldiers picked up the cash in trucks.  It took 20 years to straighten it out diplomatically between the US and Mexico.  There has always been soldiers on the streets of Mexico.  I lived there 10 years, owned a company.  Won't go back ever.  I enjoyed my time in Thailand and would like to go back but it seems to me that if the government wanted to show some type of acceptance of foreigners retiring in Thailand, they'd create something consistent, easy to comply with, show consistency throughout the various immigration offices, and show some type of consideration for the thousands of retirees that spend thousands of dollars a month to be there.  For insurance, one month it's 400K baht,  the next it's 1,000,000, the next it's A million dollars,  next year a billion, with only a Thai insurance company.  LOL......  What if the USA did that to everyone?  I guess we wouldn't need a wall.

You don't need to be skint to have money problems, mate.

 

Being from the USA, I tried the Mexico thing also. I was like, how many days can I just eat taco's and beans? They don't have a variety of food there, except in Mexico City.  The visa and flight over is sure easier though.

Edited July 17, 2022 by JimTripper