1 600 000bt in joint account for O extension based on retirement

[jeffandgop]

9 hours ago, DrJack54 said:

According to chap you quoted you wasted money on lawyer and will.

Just take letter to bank and all sorted....????????

Not a waste. Valid wills in Thailand include those prepared by a lawyer. It also includes- and is said to ease the process in settling the estate- to taking a will, whether prepared by a lawyer or not, and having it registered at the Amphur.

[CartagenaWarlock]

10 hours ago, Raindancer said:

Yes, silent signatory is a good idea.

 

But I am not going to get into a discussion about your statement that a will does not guarantee access to funds.

 

So, what you are saying is, that my friends wifes experience is not true.  And my own will discussed with my bank and their confirmation of my wife accessing my funds with the Amphur authoritative  documentation is also make believe.  So now I am a liar?   All based upon your contradiction of my post.

You may not be a liar but you are just saying from your extremely limited experience. This happens thousands of time. While somebody would say I have never submitted TM30 and got multiple extension and others will say it is not possible. Just like immigration officer, a bank manager can say no and ask for additional documents or pur barrier that can only be resolved by a lawyer. 

[Lucky Bones]

8 hours ago, ericthai said:

This is Thailand and just because something worked for one person doesn't mean it will be the same for you. Almost every office in Thailand (doesn't matter govt or non-govt) make up their own rules and what is followed today doesn't mean it will be the same next time. 

Yup.

Every office/business/individual here makes up their own rules.

 

(And I kinda like that.)

 

I think that when I am dead my problems will be the least of my worries.????????

[DrJack54]

47 minutes ago, jeffandgop said:

No. It cannot be a joint account; only in the name of the retiree. Another person can be recorded in the bank account as a Beneficiary. If another person has signature authority, then it is a joint account visible to Immigration.

There are several posts similar to this one.....(I did not link whole thread) .....

 

 

chesterubi1

 68

Posted November 16, 2020

"I went to Chiang Mai Immigration today and can confirm that you can use a Joint Bank Account, for applying for a 1 year extension based on Marriage, as long as you have at least double the normally required funds. I went to the bank and got the necessary documents and have submitted my application without issue....,"

 

As for your other point that is incorrect.

You can have a signatory on your bank account and there signature appears only under ultra blue light.

It's not a joint account. 

 

[Srikcir]

11 hours ago, Raindancer said:

Absolutely spot on.  A will registered with the local Amphur, provides your wife with the necessary authority under the will to access the funds immediately, upon presentation of the document.

 

Sorted this method out for a friend, before he passed.   His wife took the Amphur letter to the bank and had access straight away.

 

I have the same system organised already.   Spoke with my bank manager and received confirmation that this was accepted by her bank.

 

Amphur registration - Would this work for any beneficiary such as a Friend cited in the Will, or only for a wife?

[DrJack54]

53 minutes ago, jeffandgop said:

Not a waste. Valid wills in Thailand include those prepared by a lawyer. It also includes- and is said to ease the process in settling the estate- to taking a will, whether prepared by a lawyer or not, and having it registered at the Amphur.

I was being sarcastic to earlier post that states your wife can just go to bank and obtain the dosh.

In any event irrelevant as the OP is not married. 

 

Edited April 10, 2023 by DrJack54

[jeffandgop]

1 hour ago, Paradise Pete said:

Executing the will using a lawyer costs money, perhaps 100k. If your only asset is the bank account that's a big percentage.

To clarify our understanding of your meaning above, I offer the following.

 

To execute a will means to have one prepared- whether by a lawyer or self.  In other topics on this forum related to the preparation of wills by lawyers, 100K is not a sum seen- it may be 15-20K.

If you are referring to administering a will that a court has determined requires probate, then a 100K lawyer fee could be a cost; I don't know. But not all wills require probate; that will depend the value of an estate, and the complexities of assets- bank accounts, real estate, investments, etc.  If the principal asset is a bank account, and the will designates the partner as the sole beneficiary, and there are no other heirs who may make a claim, probate may not be required by the court. And I would go so far as to contend if a lawyer's fee of 100K represents a big percentage of that bank account which is the decedent's sole asset, then the court would not require probate- again, especially if there is a will and the decedent did not die intestate.

 

In closing, my wife and I have wills drawn up.  Under Thai law, spouses are automatically the prime beneficiary even without a will; if children, they too by Thai law have entitlements. In any event, we have no children. I fully expect when either of us passes, the other as Executor will be able to administer the will without probate based on the type and value of our assets.

[DrJack54]

8 minutes ago, jeffandgop said:

In closing, my wife and I have wills drawn up.  Under Thai law, spouses are automatically the prime beneficiary even without a will; if children, they too by Thai law have entitlements

Which is very true.

 

However the OP has a live in girlfriend. 

In Oz it's referred to as defacto and has legal status.

In Thailand means little. 

[jeffandgop]

27 minutes ago, Srikcir said:

Amphur registration - Would this work for any beneficiary such as a Friend cited in the Will, or only for a wife?

Doesn't matter as it concerns simply registering (filing) a copy of the will w/the Amphur

[jeffandgop]

11 minutes ago, DrJack54 said:

Which is very true.

 

However the OP has a live in girlfriend. 

In Oz it's referred to as defacto and has legal status.

In Thailand means little. 

Persons not related to the decedent by marriage does not render that person not entitled to the wishes of the decedent as expressed in the will.  Now if the decedent has children, former wives, etc; the will could be challenged. But if unchallenged, Thai law accepts the designation of the girlfriend to inherit per the terms of the will.

[jeffandgop]

36 minutes ago, DrJack54 said:

There are several posts similar to this one.....(I did not link whole thread) .....

 

 

chesterubi1

 68

Posted November 16, 2020

"I went to Chiang Mai Immigration today and can confirm that you can use a Joint Bank Account, for applying for a 1 year extension based on Marriage, as long as you have at least double the normally required funds. I went to the bank and got the necessary documents and have submitted my application without issue....,"

 

As for your other point that is incorrect.

You can have a signatory on your bank account and there signature appears only under ultra blue light.

It's not a joint account. 

 

Note the OP was referring to a joint account for an extension based on retirement, not marriage. That's what I was responding to.

 

Second, you refer to what CM IMM accepted in 2020.

The very latest written instructions I received from CM IMM last month related to applying for an EOS based on marriage clearly states:

 

Nothing allows for a joint account with twice the funds, but that could be possible; I'd recommend anyone trying this method first verify with their local IMM.

[quake]

10 hours ago, BritTim said:

Are you speaking from personal experience? The horror stories I am talking about are from spouses who were officially married and using lawyers who one assumes know what paperwork is required. It took months.

No. is that a requirement. 

 

Understanding the rules and regulations of a bank

and bank policy , requires some work before your demise.

These rules and regulations can be different from bank to bank and even branch to branch.

People need to visit the bank they use with there loved one, and 

find out what is required.

I bet 99.9% of people don't do this.

And there lies the problem, and the horror stories start.

 

 

 

 

 

 

 

 

 

[DickThrust]

Great advice guys, thanks.

[brianthainess]

15 hours ago, BritTim said:

Correct in theory, but I have heard several horror stories of the difficulty in extracting money from Thai banks. At a minimum, it seems to take a few months.

Yes it seems a will, or no will, must go to arbitration to your local Family Court for arbitration, its not really a 'horror' story, its pretty much a universal thing, to find if anyone one else is entitled to assets, i.e.  money owed to any financial institutions, etc..

The Krungsri bank in reply to an email gave me a list of what my wife must do on my demise. No will.

From memory; Take death cert, passport to the court, wait until you receive the letter from the court, go to bank with the letter, PP, bank book, death cert.  

[brianthainess]

13 hours ago, quake said:

Go to the bank with the correct paper work and there will be no issue.

Read my previous post.

[DrJack54]

44 minutes ago, jeffandgop said:

Nothing allows for a joint account with twice the funds, but that could be possible; I'd recommend anyone trying this method first verify with their local IMM.

This is first post from myself....

 

"This is a question for your particular immigration office.

Some may accept joint account with double the money in bank for extension marriage.

 

Some might for retirement.

Personally doubt many/if any would allow that" 

 

As for you other post regarding a WILL.

Of course you can specify/direct where funds such as money in the bank etc goes.

I have one and my gf receives my dosh.

 

Prior to the discussion about Will,s there were posts implying that a Will was not required and that wife could easily obtain funds from bank account straight away. 

[brianthainess]

10 hours ago, DrJack54 said:

FYI when a farang dies in Thailand their embassy is notified quick smart 

That info is passed onto banking

No it is not, how would your embassy know about your bank accounts, here or elsewhere. Government Pensions are stopped. but banks?

[quake]

7 minutes ago, brianthainess said:

Read my previous post.

No. 

[IvorBiggun2]

2 hours ago, jeffandgop said:

It cannot be a joint account; only in the name of the retiree.

Yes it can but the OP has to have double the amount of money required in the account. The OP has  1,600,000 Baht. So a joint account is the way forward.

[DrJack54]

16 minutes ago, brianthainess said:

No it is not, how would your embassy know about your bank accounts, here or elsewhere. Government Pensions are stopped. but banks?

Banks are notified. 

[brianthainess]

20 minutes ago, DrJack54 said:

Banks are notified. 

What all banks worldwide ?

[fvw53]

13 hours ago, DrJack54 said:

Certainly a will is a good idea.

 

Also it's possible if married to have your wife as a silent signatory on the account.

A will does not guarantee instant access to funds. 

In some cases that's necessary. 

 

SCB bank refused "silent signature" of my wife on my account : they will accept only if the account has the name of both of us

[crazykopite]

I was told my spouse had to have her own bank account with the 800k it could not be a joint account so that is what we did this was Samui IO 

[DrJack54]

14 minutes ago, fvw53 said:

SCB bank refused "silent signature" of my wife on my account : they will accept only if the account has the name of both of us

Many threads with varying reports.

 

https://aseannow.com/topic/1193091-wifes-access-to-falang-bank-account-if-falang-deceased/

[crazykopite]

16 hours ago, BritTim said:

Correct in theory, but I have heard several horror stories of the difficulty in extracting money from Thai banks. At a minimum, it seems to take a few months.

Yes i have experience not trying to get money out of a Thai bank when a person passes Bangkok bank have kept me waiting for 1.5 years im now in the process of going to the court to get an authorised letter to release the monies . This has taught me a valuable lesson I now keep a minimum amount in Thai banks with the 800 k make use of it by living off it then two months prior to renewal top it back up to the 800k you can take it down to 400,000 baht 

[crazykopite]

4 minutes ago, DrJack54 said:

Many threads with varying reports.

 

https://aseannow.com/topic/1193091-wifes-access-to-falang-bank-account-if-falang-deceased/

Was in SCB  for 20 years now in Kasikorn bank and what a great bank it is no longer do I have to pay 30 baht every time i do a transaction to another province K bank have no charges I recently did a  one million + baht transfer using my K bank card to another province no charges.and the whole procedure was complete in 5 minutes I would hate to think what SCB would of charged me 

[Lucky Bones]

3 hours ago, jeffandgop said:

To clarify our understanding of your meaning above, I offer the following.

 

To execute a will means to have one prepared- whether by a lawyer or self.  In other topics on this forum related to the preparation of wills by lawyers, 100K is not a sum seen- it may be 15-20K.

If you are referring to administering a will that a court has determined requires probate, then a 100K lawyer fee could be a cost; I don't know. But not all wills require probate; that will depend the value of an estate, and the complexities of assets- bank accounts, real estate, investments, etc.  If the principal asset is a bank account, and the will designates the partner as the sole beneficiary, and there are no other heirs who may make a claim, probate may not be required by the court. And I would go so far as to contend if a lawyer's fee of 100K represents a big percentage of that bank account which is the decedent's sole asset, then the court would not require probate- again, especially if there is a will and the decedent did not die intestate.

 

In closing, my wife and I have wills drawn up.  Under Thai law, spouses are automatically the prime beneficiary even without a will; if children, they too by Thai law have entitlements. In any event, we have no children. I fully expect when either of us passes, the other as Executor will be able to administer the will without probate based on the type and value of our assets.

I lost it when you said "ThaI law".

There is no such thing.

It is simply every girl chewing your bones.????????

[DrJack54]

12 minutes ago, crazykopite said:

Was in SCB  for 20 years now in Kasikorn bank and what a great bank it is no longer do I have to pay 30 baht every time i do a transaction to another province K bank have no charges

Strange.

My Kasikorn account charges for withdrawal from another province.

Pic attached.

 

[BritTim]

Does anyone know the legal situation under the following circumstances:

1. You have a checking account at Bangkok Bank.
2. Your wife/girlfriend has a crossed check in the amount of 800,000 baht dated one day prior to your death.
3. The cheque is processed subsequent to your death to transfer the funds out of your account.

Obviously, what I have in mind is an undated cheque that your wife/girlfriend can date and submit immediately after your death.

[DJ54]

3 hours ago, brianthainess said:

No it is not, how would your embassy know about your bank accounts, here or elsewhere. Government Pensions are stopped. but banks?

Regarding US bank this is from my personal experience. Happened twice an agency reported that I was deceased ultimately was sorted out it was someone else. I lived in China ( 10 years) at the time. 
 

brief explanation in China couldn’t access account on internet or told why account was frozen Called the bank in US talked to several layers of managers and the only way to do anything Bank related I needed to go to the Branch office which was In Los Angeles ( I was in China). Flew to Los Angeles went to the branch talked to manager he called upper management.. I had Passport (US),two driver’s licenses (US and China) with photo, two bank cards from their bank. Unable to access account and had to so to Social Security for letter stating I wasn’t dead. 
 

Went Social Security they can’t issue I’m not dead letter and provided letter stating no one has claimed death benefits. Back to bank sorted out…

 

A few months later frozen again. I’m in China. Called US bank and they would say why not frozen. Finally I said let me guess I’m dead again. Fortunately I was in a branch in Los Angeles the day prior

and I had just flown back to China. This time the Bank conference called me, branch I was at day prior. I’d spent about an hour at the bank discussing accounts… anyway the manager

I met with day prior said… yes I was at the bank yesterday and I wasn’t dead at the time.

 

it was a frustrating event and a note was put on the account.. it hasn’t happened again

in 8 years knock on wood…. Note it was one of the largest banks in US and possibly world

at least that’s what Wiki says…