Will in Thailand, US

[Jelli]

Hi everyone

 

I need to have surgery for a minor health issue but expect it to require general anesthesia. Therefore, it's finally time to make a will.

 

First, what is a fair price to have this done in Thailand? The will do simple need I go this route?

 

I live in Bangkok and assume needs to be done here as I expect some F2F need for signatures etc?

 

What is the process for doing this myself? I only have bank accounts. Nothing complicated. Everything to wife of 13 years.

 

Thai: 4-5 bank accounts, personal effects

 

US two accounts, two IRA. IRAs wife has already been inserted as beneficiary but kinda dodgy bc no TIN used her passport number.

 

1 write it following template I dld here on this AN website.

2 translate it to Thai

3 take it amphor, have it witnessed and registered

 

What are some things I might not be aware of that should be included?

 

Finally, can I do a US will here? Need it be registered or ??

 

Can I write my own will for US here or use legal services here and somehow have it registered in US? Perhaps bring it into a notary and sign there?

 

I do understand my wife can be the executor but cannot witness the document.

 

I have read registering the will at amphor can be tricky. I can use any in Bangkok correct?

 

Thank you kindly

Edited August 16, 2023 by Jelli

[Tom H]

Invest in a lawyer. Too many little bits and pieces to take care.

Tax, form, country, witness, executer etc.

 

I made my will with help from a lawyer in Bkk.

 

Expect 40k max if you want a good one.

Cheaper solutions possible of course but inclusive possible mistake I found out.

 

 

Edited August 16, 2023 by Tom H

[Jelli]

1 hour ago, Tom H said:

Invest in a lawyer. Too many little bits and pieces to take care.

Tax, form, country, witness, executer etc.

 

I made my will with help from a lawyer in Bkk.

 

Expect 40k max if you want a good one.

Cheaper solutions possible of course but inclusive possible mistake I found out.

 

 

I have a few bank accounts. 40k is absolutely ridiculous. That's a month's salary for a Bangkok bank branch manager.

 

Personal effects

Bank accounts

Living will issues

 

C'mon now

 

[Tom H]

21 minutes ago, Jelli said:

I have a few bank accounts. 40k is absolutely ridiculous. That's a month's salary for a Bangkok bank branch manager.

 

Personal effects

Bank accounts

Living will issues

 

C'mon now

 

Well its cheap when you have a lot in different countries and you consider tax implications:).

[Jelli]

Amcham pdf discussing three types of wills valid in Thailand.

Making-A-Will-in-Thailand-and-Issues-to-be-Aware-of-200320.pdf

[Delight]

Most Thai people do not have a  Will.

Probate sorts out who gets what -as per a set of rules.

As I see it you do not need a Will. Your assets will simply go to your legal wife.

As far as your USA assets are concerned -you will require q Will.

The most important feature of such a Will is the administrator -sometimes referred to as an executor.

This administrator must have the original Will.

A death certificate -with official translation-is required.

Your widow can handle this.

Of course the administrator in the US will need to appoint a probate lawyer.

Have you organised US based funds to cover this?

 

[JimGant]

On 8/17/2023 at 5:37 AM, Jelli said:

no TIN used her passport number.

Why no TIN? For 2023, unless wife earns more than $13,850 equivalent (and declarable), filing jointly would be money in your pocket over filing 'married filing separately.' Anyway, too late this year -- need to wait until you file next year to get an ITIN -- if that should be to your advantage. If you survive surgery, think about it (if you don't -- nevermind).

 

And I mention this, because if you make your bank accounts in the US with your wife as Pay On Death (POD) beneficiary, they won't have to go through probate -- same as your IRA, which now has your wife as beneficiary, with apparently her passport number sufficing. And maybe your bank would do the same, setting up PODs for the wife with only her passport number as ID, as there's no Federal requirement PODs need an SSN attached - only a bank, and some States', requirement. Worth a try, to avoid probate in the US.

 

You can draft a Will yourself, using one of many Will templates floating around on Thai websites (these templates cover the basic necessities required by both Thai and US Will preparation). Make it all encompassing, meaning it can cover all your world assets (in your case, just state: this covers all my assets in both Thailand and the US, including Thai bank accounts XYZ; US bank accounts ABC; and any subsequently established bank accounts; and my US IRA. Name wife as executor and sole beneficiary. Have two witnesses (yes, not your wife), of sound mind and over 18, witness your signature. Include their Thai ID numbers. Cell phone video the signing and the Will. Give the Will and thumb drive to your wife. No need to register the Will, nor in any way involve the Amphur (this is a persisting myth).

 

Hopefully, your wife can clean out your Thai bank accounts, assuming you use online banking. Or make her a co-signatory on your accounts, allowing her to go to the bank in person, with your passbook, and remove most of your funds (can't close account). If this runs into a snag, and she must go through probate, well then she must hire a lawyer, plus have your English original Will translated into Thai. Probate is advertised to cost around 50,000 baht. [By the way, you can get a Will drafted by a Thai law firm for between 5000 - 10000 baht, at least according to reports on this forum.]

 

And hopefully you can POD your US accounts. If not, ask the bank as to whether or not they'll honor your Thai Will as the legal designator of your beneficiary (the US is pretty flexible on ways around probate). But certainly there should be no need to prepare a separate US Will, hire a lawyer in the US as contingent to possible probate, etc. And certainly a Will you write or have prepared in Thailand, in English, that covers your worldwide assets, would be acceptable in all the US States and territories.

 

Good luck with your surgery.

[Jelli]

22 hours ago, JimGant said:

Why no TIN? For 2023, unless wife earns more than $13,850 equivalent (and declarable), filing jointly would be money in your pocket over filing 'married filing separately.' Anyway, too late this year -- need to wait until you file next year to get an ITIN -- if that should be to your advantage. If you survive surgery, think about it (if you don't -- nevermind).

 

And I mention this, because if you make your bank accounts in the US with your wife as Pay On Death (POD) beneficiary, they won't have to go through probate -- same as your IRA, which now has your wife as beneficiary, with apparently her passport number sufficing. And maybe your bank would do the same, setting up PODs for the wife with only her passport number as ID, as there's no Federal requirement PODs need an SSN attached - only a bank, and some States', requirement. Worth a try, to avoid probate in the US.

 

You can draft a Will yourself, using one of many Will templates floating around on Thai websites (these templates cover the basic necessities required by both Thai and US Will preparation). Make it all encompassing, meaning it can cover all your world assets (in your case, just state: this covers all my assets in both Thailand and the US, including Thai bank accounts XYZ; US bank accounts ABC; and any subsequently established bank accounts; and my US IRA. Name wife as executor and sole beneficiary. Have two witnesses (yes, not your wife), of sound mind and over 18, witness your signature. Include their Thai ID numbers. Cell phone video the signing and the Will. Give the Will and thumb drive to your wife. No need to register the Will, nor in any way involve the Amphur (this is a persisting myth).

 

Hopefully, your wife can clean out your Thai bank accounts, assuming you use online banking. Or make her a co-signatory on your accounts, allowing her to go to the bank in person, with your passbook, and remove most of your funds (can't close account). If this runs into a snag, and she must go through probate, well then she must hire a lawyer, plus have your English original Will translated into Thai. Probate is advertised to cost around 50,000 baht. [By the way, you can get a Will drafted by a Thai law firm for between 5000 - 10000 baht, at least according to reports on this forum.]

 

And hopefully you can POD your US accounts. If not, ask the bank as to whether or not they'll honor your Thai Will as the legal designator of your beneficiary (the US is pretty flexible on ways around probate). But certainly there should be no need to prepare a separate US Will, hire a lawyer in the US as contingent to possible probate, etc. And certainly a Will you write or have prepared in Thailand, in English, that covers your worldwide assets, would be acceptable in all the US States and territories.

 

Good luck with your surgery.

Thank you.