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

[RafPinto]

3 hours ago, actonion said:

Illegal or not   the bank i use suggested the same thing,  give your wife / partner your  pin number  to withdraw the funds   before the bank get notified  of the death  by authorities usually  6 weeks i was told

Hope not too many thai wifes are reading here.
Each morning, she will look at you and ask "honey, are you still alive?"

The engine is already running in she ready to drive to the bank, just in case you don't answer quick enough.

[Soda Soda]

4 hours ago, nickmondo said:

you can also make one for 2,000 baht with a lawyer!

jeez.........did yours include the taxi, dinner for 2 and an overnight hotel stay?

Did it all without leaving the house and I know it was done properly.

[Thingamabob]

19 hours ago, hotandsticky said:

He can't use a joint account for Immigration purposes.

Correct.

[Soda Soda]

1 minute ago, Thingamabob said:

Correct.

also a fixed deposit account does not have a pin number.

[Horatio Poke]

My solution is rather more creative.  I'm having special hollowed-out wings made so that I can take it with me.

[scorecard]

20 hours ago, khunbillmex said:

a will - that's a good idea. This 800k is my only asset.

If it really is your only asset and your wish is to legally leave it to wife then you can make a legal will at your local amphur office at a very small fee.

 

But ensure the staff at the local amphur office don't try to convince you that it's Thai law that some of your money must be left to your wife's mother (your M-I-Law), or similar. That's not true. You have total control of what you say in your will.

 

But I DON'T suggest you take the amphur route (in regard to writing a will) if your assets are more complex and your desire is to bequeath different amounts of money, property, vehicles etc., to several people. Staff at Amphur offices don't have the knowledge necessary to do this.

 

Back to leaving the 800,000Baht to your wife. You could go to the amphur office with your wishes already written in Thai and in English, similar to:

 

'Upon my death I leave all of my cash and all other assets to my wife.'

 

Tell the amphu staff your statement is not negotiatble, and insist your will must be as per your already written instruction, nothing added/nothing changed.

 

Also keep in mind that you can change your will a million times. Totally up to you. If you do rewrite your will and have it properly signed and witnessed etc., all previous wills you have written are immediately null and void (totally cancelled). 

 

Good luck.

Edited July 18, 2022 by scorecard

[LivingNThailand]

1 hour ago, Pumpuynarak said:

BINGO, and by the way guys how do the authorities/bank(s) know WHO actually withdrew the moneys in my accounts after my death as if they would care TIT

Exactly why the bank manager hinted to go the joint saving account way and transfer the money after the big D.  The manager didn't seem to care.

 

Everyone's situation is different.  The 800,000 is my wife's money too.  After 40+ years of marriage and building a life together, it's 1/2 hers.  It's just earmarked in a special account for the visa at this point in time.  Simple for us, maybe not simple for other people's situation.  It's not a one fit all thing.

 

[scorecard]

14 hours ago, Joebuzzz said:

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. 

 

If you have decased it possibly means that automatically others (by law) cannot touch your assets, funds in banks etc. 

[Pumpuynarak]

3 minutes ago, LivingNThailand said:

Exactly why the bank manager hinted to go the joint saving account way and transfer the money after the big D.  The manager didn't seem to care.

 

Everyone's situation is different.  The 800,000 is my wife's money too.  After 40+ years of marriage and building a life together, it's 1/2 hers.  It's just earmarked in a special account for the visa at this point in time.  Simple for us, maybe not simple for other people's situation.  It's not a one fit all thing.

 

The issue with joint accounts is Immigration will not accept for the 800K method but may do for the 65K, i don't know, maybe someone has experience.

One way over the joint account issue is to approach your bank and ask them if they can add your wife to the account without her being named as a joint account holder thus giving her legal access to the account on your death.

I have approached BB and they confirm that they can do for me as long as i take our marriage certificate to the branch. 

[couchpotato]

10 minutes ago, LivingNThailand said:

Exactly why the bank manager hinted to go the joint saving account way and transfer the money after the big D.  The manager didn't seem to care.

 

Everyone's situation is different.  The 800,000 is my wife's money too.  After 40+ years of marriage and building a life together, it's 1/2 hers.  It's just earmarked in a special account for the visa at this point in time.  Simple for us, maybe not simple for other people's situation.  It's not a one fit all thing.

 

It's just earmarked in a special account for the visa at this point in time.  Simple for us, maybe not simple for other people's situation.  It's not a one fit all thing.

 

Don't understand what special acct you are referring to here..can you give a bit more info please..thanks.

[LivingNThailand]

1 minute ago, Pumpuynarak said:

The issue with joint accounts is Immigration will not accept for the 800K method but may do for the 65K, i don't know, maybe someone has experience.

One way over the joint account issue is to approach your bank and ask them if they can add your wife to the account without her being named as a joint account holder thus giving her legal access to the account on your death.

I have approached BB and they confirm that they can do for me as long as i take our marriage certificate to the branch. 

You may have missed my earlier post.  I have 800,000 in a special savings account just for immigration and another joint savings account with online banking privileges, me being the primary account holder.   If something happens to me my wife can easily transfer the 800,000+ into the joint savings with a simple transfer.  Probably can do that with mobile banking, but I'm not too familiar with that.

 

[LivingNThailand]

3 minutes ago, couchpotato said:

It's just earmarked in a special account for the visa at this point in time.  Simple for us, maybe not simple for other people's situation.  It's not a one fit all thing.

 

Don't understand what special acct you are referring to here..can you give a bit more info please..thanks.

Two savings accounts, one for immigration with 800,000+ and another joint savings account.  I just called it special account because we don't use it for anything.  It just sits there collecting .0005% ????

[billd766]

4 hours ago, Excel said:

Not true

A meaningless comment as it stands.

 

Please explain further with links or references where possible.

[couchpotato]

17 minutes ago, LivingNThailand said:

You may have missed my earlier post.  I have 800,000 in a special savings account just for immigration and another joint savings account with online banking privileges, me being the primary account holder.   If something happens to me my wife can easily transfer the 800,000+ into the joint savings with a simple transfer.  Probably can do that with mobile banking, but I'm not too familiar with that.

 

I apologise for all the questions, but if something does happen to you, how does your wife (easily) transfer the 800k, which is in your name ONLY, into the joint savings act (or any account for that matter).

Or are you saying that she will login to your 800k account and transfer to her account.

[bbudd]

While a joint account is not acceptable to immigration ,you can still add your wife as signing partner

 

I've done exactly that for Non O funds as well as the foreign deposit accounts in 3 different banks

[LivingNThailand]

16 minutes ago, couchpotato said:

I apologise for all the questions, but if something does happen to you, how does your wife (easily) transfer the 800k, which is in your name ONLY, into the joint savings act (or any account for that matter).

Or are you saying that she will login to your 800k account and transfer to her account.

No problem.  With BKK bank you can link up to 5 savings accounts with internet banking.  As I am primary on the joint account I can  (or my wife) can transfer money from the 800,000 account into the savings account anytime (I actually did that by mistake once, but corrected it immediately).  

I have 3 accounts.  The 800,000 one, the Joint daily living one, and a third  joint one for small emergencies.  We can transfer money back and forth between those accounts on the internet.  Because I am the primary on the joint accounts it is easy to transfer the 800,000 in one transaction if needed.  

My wife has a small account, but she can't link it to the internet banking because I am not on  that account.   So if something happens to me first, she can transfer the 800,000 into one of the other two joint accounts, BUT cannot transfer to her single account on the internet.   She can, however, take the 800000 out of the joint account and put into her single account in a different transaction (manually, not on the internet)  Preferably a day or two after the first transaction.

 

The key is that I am primary holder of the joint savings accounts, therefore I can link the single account with the joint accounts.  I hope I am clear, if not please ask more questions.  

 

 

Edited July 18, 2022 by LivingNThailand

[Madgee]

Making a will is quite easy if that is what you want to do for peace of mind and if you want to be specific on who gets what, especially if you are not married. This is where the problems can occur and it is illegal for someone to touch a deceased foreign persons assets without probate.

 

Now if you are married and are happy with your spouse to get all then the law of succession covers the wife and there is no need to make a will if that is your wish. As said previously, marriage and death certificate will suffice. 

 Foreigners and inheritance in Thailand (thaicontracts.com)

[Surasak]

7 hours ago, DrJack54 said:

The OP is using money in bank method for retirement purposes.

Hence the reference to 800k.

It is not possible to do as you suggest. 

Dr Jack. May I point out, 12 monthly transfers can be used to obtain an extension of stay. If the OP wishes to hold a static amount in a bank that is entirely his prerogative. And I might add, there are alternatives.

[Bogbrush]

23 hours ago, Soda Soda said:

For a fee of 6,000 baht you can make a will using a lawyer.

This guy advertises wills at 900 baht..

 

 

.

[Harveyboy]

22 hours ago, problemfarang said:

Best option is download mobile app as suggested above

this is what i have in mind..but isn't it illegal to take money from the bank of deceased..or if done asap can it go unnoticed 

[problemfarang]

27 minutes ago, Harveyboy said:

this is what i have in mind..but isn't it illegal to take money from the bank of deceased..or if done asap can it go unnoticed 

well everybody on the forum said its illegal. But tbh whose gonna notice that.. its just a suggestion to save money from writing a will. Or (its kinda sad to say like this way) can just transfer the money via app to your wife if you feel... your almost at your end... I would go with a lawyer (6000K one time payment) OR app option. 1 of them

Also many people wrote lot about my ATM card comment. again tbh i didnt know its that dead difficult to go to a bank which you already have an account and get an ATM card. Or why don't have one so far?! 

And i read some comments like some people scare their wife know their account no or details.. I dont understand this either, she is your life partner.. good and bad days.. if you cannot trust her in your last breath.. wow then why did you marry!? or.. are you planning to take 800K to your grave with you?!

Edited July 18, 2022 by problemfarang

[Liverpool Lou]

5 hours ago, EVENKEEL said:

Explain why it must be obvious about the bank account. Explain the normal inquiries part. Unless you have proof from this happening to a friend who passed you're just fear mongering.

I have proof, it's called probate. Thailand has probate laws, look them up.  Nothing to do with fear mongering.  If anything I have said is wrong, point it out, specifically.

[CharlieH]

A number of illegal suggestions and responses to them have been removed.

[DJ54]

Special savings account with no ATM or internet access is required for direct deposit monthly payments from US Social Security with Bangkok Bank. I can see balance on both special account 

and second normal ATM account. I’ve not tired to transfer between the two I’ll have to give it a try.

 

Note twice my US Chase account was frozen because a report from some agency I was deceased. First time luckily I had trip scheduled next day to Los Angeles and went to the bank

to sort it out… had passport, 3 drivers license etc. bank main headquarters wouldn’t release access resulted in going to US Social security to get a letter I wasn’t deceased. SS could only 

write a letter that no death benefits had been requested. Second time a little less pain but account was frozen until sorted out… 

 

[Andycoops]

On 7/17/2022 at 4:51 PM, transam said:

Folk I know that past away, their wife took the paperwork/death cert to the bank to get their husband's cash...

That's my experience too.

[actonion]

22 hours ago, Excel said:

Not true

tell it to the bank manager 

Edited July 19, 2022 by actonion

[Pumpuynarak]

17 hours ago, LivingNThailand said:

You may have missed my earlier post.  I have 800,000 in a special savings account just for immigration and another joint savings account with online banking privileges, me being the primary account holder.   If something happens to me my wife can easily transfer the 800,000+ into the joint savings with a simple transfer.  Probably can do that with mobile banking, but I'm not too familiar with that.

 

I've never heard of "primary account holder" i was under the impression that a joint account afforded each person exactly the same rights with respect to the account.

I learn something every day lol

[OneeyedJohn]

Can't say I have heard of a primary account holder. Presumably there must be a subsidiary account holder. Makes no sense.

[LivingNThailand]

11 minutes ago, OneeyedJohn said:

Can't say I have heard of a primary account holder. Presumably there must be a subsidiary account holder. Makes no sense.

It's like when you fill out your tax returns and there is a line for the taxpayer and then there is a line for spouse.  You are both equally responsible but the IRS wants one "primary"  contact person.  Or when you buy a car together and there is a car owner and an additional car owner.  Someone's ID has to be "primary" on the account and the spouse is secondary.    Technically I guess the wife could be first on the account, but the bank said I had to be first.????  Maybe primary isn't the correct word, but I hope you understand my explanation.

[Pumpuynarak]

1 hour ago, LivingNThailand said:

It's like when you fill out your tax returns and there is a line for the taxpayer and then there is a line for spouse.  You are both equally responsible but the IRS wants one "primary"  contact person.  Or when you buy a car together and there is a car owner and an additional car owner.  Someone's ID has to be "primary" on the account and the spouse is secondary.    Technically I guess the wife could be first on the account, but the bank said I had to be first.????  Maybe primary isn't the correct word, but I hope you understand my explanation.

Now i'm getting really confused. In all my years completing tax returns for the UK taxman i've never ever seen a spouse mentioned on any return, its personal to the individual is my experience.

Edited July 19, 2022 by Pumpuynarak