How to register a heir/next of kin with bank

[nicelee808]

Does anyone know what I can do to ensure any money in any bank accounts is given to the right person if something happened to me?

[Mike Lister]

Just now, nicelee808 said:

Does anyone know what I can do to ensure any money in any bank accounts is given to the right person if something happened to me?

You need to write a Thai will and give a copy to your bank, there is no next of kin option here without one.

[billd766]

28 minutes ago, Mike Lister said:

You need to write a Thai will and give a copy to your bank, there is no next of kin option here without one.

Can you please tell me if that would work out with an either/or joint bank account?

[nicelee808]

1 hour ago, Mike Lister said:

You need to write a Thai will and give a copy to your bank, there is no next of kin option here without one.

How do I do a will here

[Mike Lister]

5 hours ago, nicelee808 said:

How do I do a will here

Go find a Thai lawyer and they will write one for you, the cost is around 6,000 baht or so.

 

If you can't find one, try Khun Sumalee Jennepa at 19 Tanin. She is an almost retired barrister who speaks very good English and has an excellent reputation.

 

 https://29tanin.com/

[SAFETY FIRST]

6 hours ago, Mike Lister said:

You need to write a Thai will and give a copy to your bank, there is no next of kin option here without one.

No need to give to your bank, just write your will. 

 

[Mike Lister]

5 hours ago, billd766 said:

Can you please tell me if that would work out with an either/or joint bank account?

The will is superfluous with an "either or" account, since despite being joined, the account is actually two separate ones any way. But participants in a joint account will find the lodgement of a will helpful when one of them passes. This is because technically, a joint account should be closed at that point, despite one of the parties still  being alive, the existence of the will shows intent and may be sufficient to allow continued access to the account. But the law, technically speaking, says that such accounts should go through probate, regardless hence this is in one of those areas where local tradition and custom comes into play.

[Mike Lister]

6 minutes ago, SAFETY FIRST said:

No need to give to your bank, just write your will. 

 

Yes sure, you don't have to, but it helps because it lets the manager see intent.

[billd766]

8 hours ago, Mike Lister said:

The will is superfluous with an "either or" account, since despite being joined, the account is actually two separate ones any way. But participants in a joint account will find the lodgement of a will helpful when one of them passes. This is because technically, a joint account should be closed at that point, despite one of the parties still  being alive, the existence of the will shows intent and may be sufficient to allow continued access to the account. But the law, technically speaking, says that such accounts should go through probate, regardless hence this is in one of those areas where local tradition and custom comes into play.

Thank you for that very useful information.

 

We have a joint account at KBank.

 

My wife and our son have separate single accounts at the same bank branch.

 

I have a single account at BKK bank for my visa income and I also have another at Wise UK where my pensions come into and are transferred to my BKK in Thailand.

 

I will ask the BKK branch what they will need on Friday and I will also talk to Wise to see what they need when I die. My (frozen) state pension dies with me but my wife will get 50% of my other 2 pensions that will be sent to Wise. They will also die when she does.

 

I am 80 and I am trying to tidy up my financial affairs whilst I am still around and also while my brain, memory and body are still working.

[billd766]

8 hours ago, SAFETY FIRST said:

No need to give to your bank, just write your will. 

 

But that will take time. My wife will probably need money quickly for my cremation etc.

 

Doing it the way that Mike lister suggests will cut that time down, especially as all the household bills are done through the joint account. They will take time to transfer.

[Sheryl]

15 hours ago, Mike Lister said:

You need to write a Thai will and give a copy to your bank, there is no next of kin option here without one.

As above.

 

Believe me, I tried. 

[Upnotover]

17 minutes ago, billd766 said:

But that will take time. My wife will probably need money quickly for my cremation etc.

So put the quickly needed amount in her account today.

[Liverpool Lou]

15 hours ago, Mike Lister said:

You need to write a Thai will and give a copy to your bank, there is no next of kin option here without one.

Why give a copy to the bank?  A will does not give a bank the authority to disburse funds, administration/probate does that.  Even if they did have that authority, bank staff have no idea whether a presented will is valid, current or subject to dispute.

[Liverpool Lou]

9 hours ago, Mike Lister said:

Yes sure, you don't have to, but it helps because it lets the manager see intent.

Why does the manager need to "see intent"?    

[Purdey]

Banks will do whatever is written in a legal Thai will. Best to leave it with the local District office. They will confirm it is your legal will later.

[Mike Lister]

7 minutes ago, Liverpool Lou said:

Why give a copy to the bank?  A will does not give a bank the authority to disburse funds, administration/probate does that.  Even if they did have that authority, bank staff have no idea whether a presented will is valid, current or subject to dispute.

Traditional custom in Thai banks was, at one time, that bank managers would often allow dependent spouses of deceased customers, access to joint funds without probate, especially where both parties had been known for a long periods, in local communities. I can recall that approach still being reported as in force in rural communities, within the past decade. I imagine that, with the passage of time, traditional practise such as that one will be mostly replaced by the letter of the law but it does no harm to register your will regardless since it may help grease squeaky wheels. 

 

[Liverpool Lou]

36 minutes ago, billd766 said:

Doing it the way that Mike lister suggests will cut that time down

Doing it that way, without waiting for administration/probate, is illegal...banks do not have the authority to decide on the disbursement of the funds of deceased account holders, even if they are shown what they may think to be a valid and current will.

[Mike Lister]

5 minutes ago, Liverpool Lou said:

Why does the manager need to "see intent"?    

Yawn.

[Liverpool Lou]

4 minutes ago, Purdey said:

Banks will do whatever is written in a legal Thai will. Best to leave it with the local District office. They will confirm it is your legal will later.

Bank staff should not do that, they do not have the authority, the bank has no idea whether the will is valid or not.  The district office does not have the authority to decide on the validity of the will, either.

[Liverpool Lou]

3 minutes ago, Mike Lister said:

9 minutes ago, Liverpool Lou said:

Why does the manager need to "see intent"?    

Yawn.

Gawd...

[Mike Lister]

2 minutes ago, Liverpool Lou said:

Bank staff should not do that, they do not have the authority, the bank has no idea whether the will is valid or not.  The district office does not have the authority to decide on the validity of the will, either.

"Should not do that:. Have you forgotten where you are!

[Liverpool Lou]

1 minute ago, Mike Lister said:

4 minutes ago, Liverpool Lou said:

Bank staff should not do that, they do not have the authority, the bank has no idea whether the will is valid or not.  The district office does not have the authority to decide on the validity of the will, either.

"Should not do that:. Have you forgotten where you are!

So what if this is Thailand?  It looks to me as though you're now recommending illegal actions to AN readers.   

[Mike Lister]

Just now, Liverpool Lou said:

So what if this is Thailand?  It looks to me as though you're now recommending illegal actions to AN readers.   

Goodbye Lou.

[Liverpool Lou]

2 minutes ago, Mike Lister said:

3 minutes ago, Liverpool Lou said:

So what if this is Thailand?  It looks to me as though you're now recommending illegal actions to AN readers.   

Goodbye Lou.

You're welcome.

[Purdey]

I know someone whose relative died in Thailand. He went to the bank with the will and death certificate. The manager read both and signed off. These documents were stamped and signed by the district office.

 

PS This is why the will maker should deposit the will with the District office. They know who made the will.

[SAFETY FIRST]

1 hour ago, billd766 said:

But that will take time. My wife will probably need money quickly for my cremation etc.

 

Doing it the way that Mike lister suggests will cut that time down, especially as all the household bills are done through the joint account. They will take time to transfer.

I reckon the bank will put that 'will' in the rubbish bin, it's not their concern. 

 

It's not an easy path for the inheritors but it's their job. 

 

[billd766]

15 minutes ago, Mike Lister said:

Traditional custom in Thai banks was, at one time, that bank managers would often allow dependent spouses of deceased customers, access to joint funds without probate, especially where both parties had been known for a long periods, in local communities. I can recall that approach still being reported as in force in rural communities, within the past decade. I imagine that, with the passage of time, traditional practise such as that one will be mostly replaced by the letter of the law but it does no harm to register your will regardless since it may help grease squeaky wheels. 

 

If I take anybodies advice on AN about stuff like this, It would be from you only. 

 

There are so many "experts" here giving advice on a multitude of subjects that I cannot be believe that the majority have the slightest idea what they are talking about.

 

When I get the time I will contact the various banks personally and get the information from the horses mouth as it were, rather than accept and rely on other peoples advice who have actually never stuff like this.

 

Thank you once again for your useful and helpful advice

[digbeth]

42 minutes ago, Mike Lister said:

Traditional custom in Thai banks was, at one time, that bank managers would often allow dependent spouses of deceased customers, access to joint funds without probate, especially where both parties had been known for a long periods, in local communities. I can recall that approach still being reported as in force in rural communities, within the past decade. I imagine that, with the passage of time, traditional practise such as that one will be mostly replaced by the letter of the law but it does no harm to register your will regardless since it may help grease squeaky wheels. 

 

 

or at least give them a list of accounts under the deceased name, which branch informally of course, normally they don't give out information like that, 

it's required in the letter presented to the judge to start to proceed the probate/ estate manage hearing that it's written that the widow try to withdrew funds etc from the accounts and was denied.... 

 

If you're both known to the bank manager a pre-signed withdrawal slip and copy of your ID might be accepted with signed power of attorney (usually on the back of withdrawal slip) 

[Liverpool Lou]

18 minutes ago, Purdey said:

I know someone whose relative died in Thailand. He went to the bank with the will and death certificate. The manager read both and signed off. These documents were stamped and signed by the district office.

You're ignoring the fact that the bank manager does not have the authority to "sign off" on a will that hasn't had administration/probate, no matter what tradition or culture some may see as making it legal even if it happens.  What if there were substantial assets involved, the will was being contested or if it wasn't the latest will...how could the bank manager know that?   Stamps and signatures from the district office do not carry any weight, except to confirm that it had a copy of the will.

[Liverpool Lou]

21 minutes ago, billd766 said:

When I get the time I will contact the various banks personally and get the information from the horses mouth as it were, rather than accept and rely on other peoples advice who have actually never stuff like this.

What you have to bear in mind is that the bank manager is not the horses mouth (even though he may act as if he is), administration/probate is...even in Thailand.