How Can I Help My 10 Year Old Thai 'Stepdaughter'?

[Dan O]

5 hours ago, john donson said:

 

NOT WITHOUT CONSENT of both the parents of the child

 

you think the ex will allow this ?

What are you referring to tge house or the trust? You not being very specific

[Dan O]

4 hours ago, it is what it is said:

 

i've used a trust back home, if such a thing exists here?

You can do a trust in your home country that is valid and legal. They can disperse money to where ever its stipulated in the trust.

[Pouatchee]

one born every minute. you are a fool. why do you have to be this kids savior? plenty other worthy kids out there with good moms that want and deserve saving. everytime i see a falang with another's kid in their tote i think to myself what i think about you now

[noobexpat]

15 minutes ago, Dan O said:

You can do a trust in your home country that is valid and legal. They can disperse money to where ever its stipulated in the trust.

 

To an overseas minor? I don’t think so.

 

 

[noobexpat]

How much cash is it?

Needs some context for best solution.

 

 

[Dan O]

24 minutes ago, noobexpat said:

 

To an overseas minor? I don’t think so.

 

 

Yes you can. A trust can be set up and instruction given on what and when to distribute and to whom and where. There's no magic to it

[noobexpat]

59 minutes ago, Dan O said:

Yes you can. A trust can be set up and instruction given on what and when to distribute and to whom and where. There's no magic to it

 

How many have you setup and what type? 

 

[john donson]

1 hour ago, Pouatchee said:

one born every minute. you are a fool. why do you have to be this kids savior? plenty other worthy kids out there with good moms that want and deserve saving. everytime i see a falang with another's kid in their tote i think to myself what i think about you now

 

don't be so harsh, this might be the last kind of family of the person and he wants to give a better future for this child of his ex... why give money to a stranger... 

 

if you give to a charity, 95-99% will stick to the fingers of the organization anyway....

[john donson]

1 hour ago, Dan O said:

Yes you can. A trust can be set up and instruction given on what and when to distribute and to whom and where. There's no magic to it

governments have sticky fingers everywhere... a gift to someone can and will be taxed...

[john donson]

2 hours ago, Dan O said:

What are you referring to tge house or the trust? You not being very specific

as there is no trust in thailand... as I did not speak about trust... as the OP has a usufruct...  as he can make a binding lease for 30 years, that sticks even after his dead... but needs a trust worthy person as lease holder... just adding the child to the chanote, so it cannot be sold as a minor, still needs consent, even from the 'father' if there is one that registered as being... 

[uptome1946]

I have a teenage daughter in Thailand whose mother cannot handle money.  I am also 77 years old and last year I posted a request for advice similar to yours. I got lots of advice like you are getting regarding hiring an attorney.  If I cannot trust my Thai wife to hold money in trust for my daughter can I really trust an attorney?

 

I have life and health insurance in Thailand and a simple question regarding a $200,000 trust paid out over ten years resulted in near constant high pressure sales from the insurance company.  I decided not to purchase the trust since the terms were so one-sided in regard to profit for the insurance company. 

 

There are immediate trusts sold in Thailand by insurance companies.  Banks are no help and offer nothing in my experience that addresses long term payouts to minors in particular.  If one is under 18 one needs a guardian.  This is the problem- finding a guardian who puts the interest of my daughter ahead of theirs. 

 

As much as it pains me to say it, there is no one that can be trusted to NOT spend large amounts of money in Thailand.  This includes family members even in the best circumstances.  I have seen many cases where money issues have split families into warring camps.

 

Money can destroy lives just as it can improve and benefit lives.   My health scare of a year ago was resolved but the problem with money and my daughter still torments me.  Good Luck....

[steven100]

4 hours ago, uptome1946 said:

As much as it pains me to say it, there is no one that can be trusted to NOT spend large amounts of money in Thailand.

 

exactly ....  it's sad but true,  and even small amounts.

[stoner]

your ex will try to take it all. best of luck.  

[Dan O]

11 hours ago, john donson said:

governments have sticky fingers everywhere... a gift to someone can and will be taxed...

read up on trusts. Its not a gift and yes there may be some taxes but the point the OP is asking for a way to leave the money in a protected fashion where others wont get sticky fingers. A tust does that

[Dan O]

11 hours ago, john donson said:

as there is no trust in thailand... as I did not speak about trust... as the OP has a usufruct...  as he can make a binding lease for 30 years, that sticks even after his dead... but needs a trust worthy person as lease holder... just adding the child to the chanote, so it cannot be sold as a minor, still needs consent, even from the 'father' if there is one that registered as being... 

Read what I wrote about the trust being in his home country not thailand. As for the land thats also doable and needs no consent other if he has a usufact that's written properly.  He's not dead yet so he can act as the lease holder because he in effect is. '

Edited January 22 by Dan O

[noobexpat]

1 hour ago, Dan O said:

read up on trusts. Its not a gift and yes there may be some taxes but the point the OP is asking for a way to leave the money in a protected fashion where others wont get sticky fingers. A tust does that

 

The trust is a wrapper around the gift. Commonly referred to as gift trusts. The type of trust can vary, typically i use discretionary or absolute.

 

You don't appreciate the practicalities. Just the theory from google. 

 

 

[noobexpat]

1 hour ago, Dan O said:

Read what I wrote about the trust being in his home country not thailand.

 

So a non-resident trust. Lovely - suddenly got even more problematic.

[Dan O]

4 minutes ago, noobexpat said:

 

The trust is a wrapper around the gift. Commonly referred to as gift trusts. The type of trust can vary, typically i use discretionary or absolute.

 

You don't appreciate the practicalities. Just the theory from google. 

 

 

Im not sure what your implying about the google comment.   I have a trust myself so I have done my homework

Edited January 22 by Dan O
spelling

[Dan O]

2 minutes ago, noobexpat said:

 

So a non-resident trust. Lovely - suddenly got even more problematic.

resident or non resident doesnt matter as the trust would not be in Thailand

[john donson]

2 hours ago, Dan O said:

Read what I wrote about the trust being in his home country not thailand. As for the land thats also doable and needs no consent other if he has a usufact that's written properly.  He's not dead yet so he can act as the lease holder because he in effect is. '

 

does he have family he can trust in his home country ?  maybe he has children but they sure will not go spend their money in their eyes, to a child that is not even his...

 

usufruct ends at dead and a lease cannot be inherited... so if OP dies, that is the end

 

unless the lease is to an adult he trusts here in TH ...

 

if he would manage to find a loophole, and the child is groomed as any narcissistic money obsessed adult, she will be guilted, at reaching adult status, so sadly give it up to the mother, her family, etc ...  unless the OP can educate her financially and that this could be for HER future and not her undeserving mother, in the OP's eyes...

 

[noobexpat]

1 minute ago, Dan O said:

Im not sure what your implying about the google comment.   I have a trust myself so I have done my homework

 

You don't "have a trust", you created a trust. The trustees own the contents of the trust and you, the settlor, may also be a trustee. 

 

A bit of homework is not likely to be sufficient to be dishing out blanket statements i'm afraid. Its a pretty complex area.

 

[noobexpat]

39 minutes ago, Dan O said:

resident or non resident doesnt matter as the trust would not be in Thailand

 

Oh god. Stop with the advice.

Taxation of trust contents differs if the trustee is resident or non-resident in the country in which it was created.

[daveAustin]

On 1/20/2024 at 8:07 PM, HighPriority said:

Is there a particular drug that you can recommend?

Well said. What is up with that dude?

 

15 hours ago, Pouatchee said:

one born every minute. you are a fool. why do you have to be this kids savior? plenty other worthy kids out there with good moms that want and deserve saving. everytime i see a falang with another's kid in their tote i think to myself what i think about you now

Another one! Have any idea of what I think about you now? Are you guys mouthing off for kicks, perhaps drunk, or is your heart really that black? Yuck. Why would someone the op has absolutely zero connection with be more deserving than a kid he has come to love? Bizarre train of thought. Don't reply, it is rhetorical. I would look to do exactly the same in trying to out all the while keeping monies away from a devious wench. Anyone who would just walk away and take their money to the grave with them needs to have a very close look in the mirror!

 

 

[riclag]

Open a bank account for her and deposit 500 -1000 bht every month.

[mudcat]

The following is a contingency set up by my wife for her granddaughter the offspring of an unregistered marriage between her son and the girls mom.

The amount of money and land should this contingency come to pass is considerable - as a westerner I though 'trust' but here the best option is controller of property: 

 

Should my son, aaaaa, predecease me or die within 60 days of my death I give his share of my assets to my granddaughter, bbbb. I appoint cccc to be controller of property ! leave to bbbb. Property left to her, both real and personal, is to be used solely for her individual needs and benefit until she reaches her majority at 2O-years old and assumes control of her property. 

[noobexpat]

23 minutes ago, mudcat said:

 I appoint cccc to be controller of property ! 

 

This is effectively the trustee in a trust. Who is this person in your case?

 

Usually its a close friend or family member but what if you have nobody suitable. In the west, we would use a professional trustee service. But these are very costly and i bet £250k is probably minimum size for them.

[noobexpat]

34 minutes ago, riclag said:

Open a bank account for her and deposit 500 -1000 bht every month.

 

He probably can't.

A minors account is effectively a trustee account - the trustee needs to be a class of individual eg. parent/guardian etc

 

[mudcat]

The person we chose is our nephew.  We have helped him over the years with small gifts and assistance while they was putting their son though university so we know he has the experience to help where needed and would make sure there was money available for education expenses.

 

[mudcat]

Forgot to mention that 'controller of property' are solution limited to minors and persons of diminished capacity.

[noobexpat]

6 minutes ago, mudcat said:

Forgot to mention that 'controller of property' are solution limited to minors and persons of diminished capacity.

 

You mean excluding minors and persons of... 

 

ie. nephew is over age 18?