800.000 Baht account after I die - can the partner access the account

[EVENKEEL]

2 hours ago, Liverpool Lou said:

Accuracy is not a bad idea on such an important subject and, if push comes to shove on administering an estate, legality could be very important.

The topic is not, administrating an estate. I have a trust in my home country covering my RE and banks, beneficiaries listed on my retirement funds. Homes and vehicles are in the correct names in Thailand. 

 

This is about a bank account in Thailand. Who, some want to make getting the money to a loved one as difficult as possible. But carry on and show everyone just how smart you are.

[sirineou]

I don't know how things work here in Thailand but in the US if I remember correctly a person is assigned to be the executor, and such person has access to some funds while a will goes through probate, such as continued to pay mortgages , finances, and funeral costs. 

I am sure something similar must exist here also , otherwise if the deceased had a mortgage if it takes  6 months for a will to go through probate, the financed car would be repossessed , the house would be foreclosed . etc. 

Even for the dead life goes on LOL

Edited January 21 by sirineou

[snowgard]

On 1/19/2024 at 8:53 PM, Moonlover said:

Surely a simple will naming your wife as the sole beneficiary and executor should cover this situation. Make sure the account number is clearly stated in the document.

 

There may well be other documents that the bank will require, almost certainly a copy of your death certificate.

 

But the court has to examine the last will, which can take about 4-8 months!!!

[kingstonkid]

On 1/21/2024 at 5:00 AM, Mike Lister said:

That wouldn't change anything, your will still has to go through probate court, there is no magic short cut that's legal 

Agreed but a good lawyer can get it through quicker

[lopburi3]

24 minutes ago, kingstonkid said:

Agreed but a good lawyer can get it through quicker

Along with taking a good portion of the money.  Would not be calling Saul.

 

[Robin]

I too worried about his, so apart from my 800K Retirement visa, wife and I keep money in a separate joint account, which will give her some money after I die.    I have made a will in UK and sate that all  my Thai possessions go to wife, but only after probate.

Wife tells me that when her mother died, she and siblings go  access to mother's bank account by simply takin deaath cert to the bank.  ( Hearsay only )

Basically, everything we own in Thailand is in wife's name, so should not be a problem

[Hokeus]

On 1/19/2024 at 7:54 PM, hkt83100 said:

A long time ago I read about this problem, but I lost the text due to a disk crash. Someone mentioned the name of the form to fill out at the bank. It was not power of attorney. The problem is the account has to be in a single name, but how can a partner get the money from the account? I remember there was a English and a Thai term for it...

Thanks for any hint in the right direction.

Sorry if my post is redundant, but UOB gives you a form to sign when you open savings account in Thailand where you can name a beneficiary for your account when you die. The beneficiary can be anyone. Your wife, your children, your mistress, your dog, UP2U. 

[scorecard]

On 1/19/2024 at 8:09 PM, riclag said:

I dont know much about the legalities but

my wife who knows everything said upon my death she can get the funds!

I wont dispute it.

 

I've heard of bank managers signing a guarantee that they will transfer all  funds to a nominated account (e.g. wife) on seeing a death certificate.

 

But I would ensure wife has copy of any such document and also renew / update  the document every perhaps 1 or 2 years and of course a new document when there's a new bank manager. 

 

Banks seem to make their own laws on such subjects.

 

A Thai will would also be a possibility, specifically stating that all funds in bank account xx xx xx xx are bequeathed to vvvv vvvv  sssss (wife's  name and ID card no). Will must of course be properly prepared, signed and witnessed. 

[Hokeus]

33 minutes ago, Hokeus said:

Sorry if my post is redundant, but UOB gives you a form to sign when you open savings account in Thailand where you can name a beneficiary for your account when you die. The beneficiary can be anyone. Your wife, your children, your mistress, your dog, UP2U. 

Adding to my previous post above, a beneficiary named on an account prevents the need for any probate, wills, court judgements, etc. All that is required from the named beneficiary is a death certificate in order to claim the funds from the bank. 
 

The beneficiary option may also be available at some other banks in Thailand too besides UOB, but I haven't really looked into it. I know that Bangkok Bank doesn't offer it though as I did inquire with them previously. 

[Liverpool Lou]

20 hours ago, EVENKEEL said:

This is about a bank account in Thailand. Who, some want to make getting the money to a loved one as difficult as possible. But carry on and show everyone just how smart you are.

I know that this is about bank accounts of deceased account holders in Thailand, that is what I have been posting about. 

 

Access to those funds is no more "difficult" here than in most other countries and no one wants to make the access difficult.  The fact is that no one can just wander into a bank with a will and a death certificate and demand access to someone else's account, neither does the bank have authority to pay out funds from that account unilaterally, regardless of what letters/forms/authorities (from the deceased) were signed before the death.   Of course, on occasion, access maybe granted, illegally, by some ignorant bank staff but they leave themselves open to the consequences of doing things the wrong way. 

 

Nothing that I have posted is incorrect but, if you believe that it is, please point it out, specifically, before accusing me of "showing how smart I am", to use your words.  I really do not care how your family gets your fortune after your death, I (and a couple of others) are just showing the legal way it should be done in Thailand, as the OP wanted but if you want to advise others how you would get around the system (to show how smart you are) and potentially put the (fraudulent) recipients of your estate in the position of losing the money if third parties took legal action, then you carry on.   Let other posters choose the way they want to do it.  

Edited January 22 by Liverpool Lou

[Liverpool Lou]

22 hours ago, topt said:

 

22 hours ago, Liverpool Lou said:

with equal access allowed to either name.

Ok thanks but isn't this the same thing in practice?

No, a sole account in the name of John Smith (with or without additional signatories) is not the same as a joint account designated in the names of John and Joan Smith.  

[Liverpool Lou]

22 hours ago, topt said:

Also do you have any supporting link with regards to your statements on these accounts? 

I spent many years in the retail banking industry, you can look it up for yourself and if you find that I am wrong, then point it out, that is your prerogative. 

[Liverpool Lou]

20 hours ago, ChipButty said:

Having read most of the post here it seems like there is many different cases and different rules, what might be right for you is not right for me in my area, 

 

For the process being discussed here there are not different rules, there is only law and that some people/entities apparently don't follow that 'probate' law is beside the point.   

[Liverpool Lou]

22 hours ago, trainman34014 said:

I signed a form at Bangkok Bank several years ago authorising my Wife (my surname) to draw the fundsupon my death and the production of a Death Certificate.  Bank has one copy and we have the other.    Problem solved.

 

Of course; it will no doubt vary from Bank to Bank !

The problem is not solved.  You do not have the authority to give the bank that instruction to circumvent Thai 'probate' law and the bank does not have the authority to act on that instruction by itself circumventing 'probate' law.  What would happen if someone else came along and made a legitimate claim on your estate after the bank had dished out the cash without 'probate'?

[Liverpool Lou]

21 hours ago, stevenl said:

21 hours ago, Mike Lister said:

We are obliged to not advocate anything that is illegal.

Which is a far cry from my point.

No, it was not.   If you are suggesting that the process is done any other way than the legal way what else would you be suggesting than an illegal action?

[Liverpool Lou]

20 hours ago, sirineou said:

if it takes  6 months for a will to go through probate,

That is not a specified time schedule for administration here.  It could be for a complicated estate but it could also be a lot quicker than that.

[Liverpool Lou]

20 hours ago, sirineou said:

if the deceased had a mortgage if it takes  6 months for a will to go through probate, the financed car would be repossessed , the house would be foreclosed . etc. 

Not if the creditors were aware that the estate was undergoing the probate process, the completion of which would settle the outstanding debts.

[Liverpool Lou]

13 hours ago, snowgard said:

 

But the court has to examine the last will, which can take about 4-8 months!!!

Where has this "eight months" time scale come from?!   

[Liverpool Lou]

2 hours ago, Hokeus said:

Sorry if my post is redundant, but UOB gives you a form to sign when you open savings account in Thailand where you can name a beneficiary for your account when you die. The beneficiary can be anyone. Your wife, your children, your mistress, your dog, UP2U. 

But that form does not negate the requirement for administration 'probate'.  Banks are not courts.

Edited January 22 by Liverpool Lou

[Liverpool Lou]

1 hour ago, Hokeus said:

Adding to my previous post above, a beneficiary named on an account prevents the need for any probate, wills, court judgements, etc. All that is required from the named beneficiary is a death certificate in order to claim the funds from the bank. 

"...a beneficiary named on an account prevents the need for any probate..."

That is incorrect unless the account is a joint account, i.e. an account designated in two or more specific names.  All assets of deceased persons, including cash in sole accounts, are subject to administration/'probate' then the bank can legally pay out the funds.

Edited January 22 by Liverpool Lou

[EVENKEEL]

47 minutes ago, Liverpool Lou said:

I know that this is about bank accounts of deceased account holders in Thailand, that is what I have been posting about. 

 

Access to those funds is no more "difficult" here than in most other countries and no one wants to make the access difficult.  The fact is that no one can just wander into a bank with a will and a death certificate and demand access to someone else's account, neither does the bank have authority to pay out funds from that account unilaterally, regardless of what letters/forms/authorities (from the deceased) were signed before the death.   Of course, on occasion, access maybe granted, illegally, by some ignorant bank staff but they leave themselves open to the consequences of doing things the wrong way. 

 

Nothing that I have posted is incorrect but, if you believe that it is, please point it out, specifically, before accusing me of "showing how smart I am", to use your words.  I really do not care how your family gets your fortune after your death, I (and a couple of others) are just showing the legal way it should be done in Thailand, as the OP wanted but if you want to advise others how you would get around the system (to show how smart you are) and potentially put the (fraudulent) recipients of your estate in the position of losing the money if third parties took legal action, then you carry on.   Let other posters choose the way they want to do it.  

Your post is laughable, trying so hard to make something as difficult as possible. I don't advise anyone of anything, that's the point, you shouldn't either.

[Liverpool Lou]

4 minutes ago, EVENKEEL said:

I don't advise anyone of anything, that's the point, you shouldn't either.

I haven't advised anyone to do anything specific, either, I have just pointed out the law.  I don't think that is unacceptable, if it is, report me.

[scottiejohn]

19 minutes ago, Liverpool Lou said:

"...a beneficiary named on an account prevents the need for any probate..."

That is incorrect unless the account is a joint account, i.e. an account designated in two or more specific names.  All assets of deceased persons, including cash in sole accounts, are subject to administration/'probate' then the bank can legally pay out the funds.

And if it is a joint account and used for the retirement extension it is my understanding that most, if not all, IO's would require 1,600,000 in the account!

[Hokeus]

23 minutes ago, Liverpool Lou said:

But that form does not negate the requirement for administration 'probate'.  Banks are not courts.

All I know is that I was told by UOB that the only requirement to release funds upon death to a named beneficiary on a UOB account is that the beneficiary needs to present a copy of their Thai ID card and the death certificate. You may want to check with UOB directly for further clarification if you doubt this to be correct. 

[DoneTravelling]

On 1/19/2024 at 8:20 PM, MickTurator said:

This is a subject of great interest to me.

 

I asked at the bank (ayudhya) last week and they said my wife would not be able to access the 800k baht.

A death certificate would not be enough and the matter would have to go to court.

Maybe the bank is talking rubbish so does anyone have an answer and know what form the OP has mentioned?

 

The bank is correct.

[Liverpool Lou]

19 minutes ago, Hokeus said:

48 minutes ago, Liverpool Lou said:

But that form does not negate the requirement for administration 'probate'.  Banks are not courts.

All I know is that I was told by UOB that the only requirement to release funds upon death to a named beneficiary on a UOB account is that the beneficiary needs to present a copy of their Thai ID card and the death certificate. You may want to check with UOB directly for further clarification if you doubt this to be correct. 

I don't need to check with UOB, unless your account is a joint account the information they have given you is incorrect, UOB (as do you) may want to check the Thai administration/'probate' law, then your beneficiary doesn't risk disappointment after your demise.  Banks are not permitted to circumvent 'probate' law as far as sole accounts are concerned. 

[Mike Lister]

35 minutes ago, Hokeus said:

All I know is that I was told by UOB that the only requirement to release funds upon death to a named beneficiary on a UOB account is that the beneficiary needs to present a copy of their Thai ID card and the death certificate. You may want to check with UOB directly for further clarification if you doubt this to be correct. 

I wrote to the CEO of uob lthree years ago, on this point. They said they need. Proof from the probate court.

[trainman34014]

1 hour ago, Liverpool Lou said:

The problem is not solved.  You do not have the authority to give the bank that instruction to circumvent Thai 'probate' law and the bank does not have the authority to act on that instruction by itself circumventing 'probate' law.  What would happen if someone else came along and made a legitimate claim on your estate after the bank had dished out the cash without 'probate'?

You are most likely correct and not being a Lawyer who am i to argue ?     However; the Bank print special Forms for this purpose, or did, and we know another Couple who did the same and the Ex Pat has since died and the Bank paid out to his Wife in the agreed way.

 

In my Personal case there are no other likely Claimants as i am the 'Last Man Standing', so to speak.

[snowgard]

3 hours ago, Liverpool Lou said:

Where has this "eight months" time scale come from?!   

Experience!!! My son waited around 6 month before him got his papers from court here in thailand.

[jwest10]

On 1/19/2024 at 9:31 PM, proton said:

she can use the ATM card, just don't tell the bank. Also some banks allow joint signatories but its not a joint account. My mrs goes into Krungsri with the book and takes money out, how do they know i'm still alive? 

Yes, indeed but where I live is quite a large village and everyone would know I was deceased including the bank but yes seen other posts stating it is theft and fraud and how on earth can this be?
Yes, maybe probate but only want this to go to my wife.
Yes, why not take out the money from the ATM and like anywhere else in the world distant cousins come crawling out of the woodwork and when alive could no care less about you normally.