Dipped below 800k for money in bank method

[bigt3116]

On 12/7/2024 at 10:33 AM, DrJack54 said:

Yes we are off topic however good opportunity to remind expats to have plans in place re probate.

Even more so if not married. 

 

Just to clarify, Thailand does not have probate, they have a process called 'estate administration' and they are nowhere near the same.

 

Also, don't forget a foreign will may have to be legalized and translated for the Thai court to take it into consideration.

 

🙂

[hotandsticky]

20 minutes ago, bigt3116 said:

 

Just to clarify, Thailand does not have probate, they have a process called 'estate administration' and they are nowhere near the same.

 

Also, don't forget a foreign will may have to be legalized and translated for the Thai court to take it into consideration.

 

🙂

 

 

It is similar enough to Probate that it almost smells and tastes like Probate:-

 

According to the Civil and Commercial Code of Thailand - the law that governs succession and estate administration - when a person passes away with or without a will and his/her heirs or an interested person wish to transfer, inherit or administer the estate of the decedent, that person must file a petition with the court requesting to be an estate administrator.

After being appointed by the court, the estate administrator must distribute the estate to the rightful heirs and/or any other interested person(s), e.g. any creditor(s). Aside from the heirs, any person the decedent designated in his/her will to be an estate administrator is able to petition the court. A public prosecutor can also file a petition if no one is able or willing to be an estate administrator.

As Thailand does not have a probate court that specifically deals with wills and estates, the petition appointing an estate administrator must be submitted to the court within the territorial jurisdiction of which the decedent is domiciled at the time of his/her death. If he/she is not domiciled within Thailand, any petition should be submitted to the court having the relevant territorial jurisdiction.

The following persons cannot be an estate administrator:

A minor (a person under the age of 20)

A person of unsound mind or adjudged quasi-incompetent

A person adjudged bankrupt by the court

Supporting documents that need to be submitted with the petition are usually the death certificate of the decedent, a relative list, birth certificates of the rightful heirs, a marriage certificate (if relevant), a list of assets, and proof of residence of the decedent at the time of his/her death.

The process of appointing an estate administrator is generally straightforward and usually takes around 3-4 months to complete. However, complications may arise if, after filing the petition to appoint an estate administrator, an interested person files a response attempting to prove that he/she would be a more suitable estate administrator if appointed.

This will render the case contested, meaning that it could potentially become costly and time consuming.

It should be noted that the process of appointing an estate administrator is not required if there is no impediment to acquiring the estate of the decedent. For example, if a bank allows an heir to withdraw a small amount of money deposited in the decedent's bank account (usually THB 50,000 or less), it is likely that a court order appointing an estate administrator will not be needed. However, if an heir or a beneficiary wishes to inherit a piece of land that belonged to the decedent, a court order will definitely be required when transferring the ownership of the land.

[TaoNow]

In 2011, my Thai wife died suddenly, and had no will.

 

I went through the process to become "Adminstrator of the Estate"  of my deceased wife, and that process was almost exactly as described by hotandsticky in the post above.

 

Just as an aside, what surprised me most was having my name added on to the 2 land deeds -- meaning that I (a foreigner) could sell the land (which I didn't have any intention of doing). 

 

However, strangely, the house which sits on the land could only be owned (and sold) by a Thai citizen.   Go figure.

[Thingamabob]

I have always understood that the 800k account would only be accepted by Thai immigration if in the sole name of the extension applicant.

[DrJack54]

1 minute ago, Thingamabob said:

I have always understood that the 800k account would only be accepted by Thai immigration if in the sole name of the extension applicant.

That is correct. 

[Thingamabob]

1 minute ago, DrJack54 said:

That is correct. 

Thanks. So that being so how could someone's partner withdraw money from it as alleged in the original posting ?

[KannikaP]

On 12/7/2024 at 10:25 AM, LivingNThailand said:

You can now get the 12 month statement from Bangkok Bank in about 2 days

Not at my Phitsanulok branch. 1 week minimum.

[DrJack54]

8 minutes ago, Thingamabob said:

So that being so how could someone's partner withdraw money from it as alleged in the original posting ?

The 800k that I keep in Kasikorn savings account has a debit ATM card.

 

My partner keeps the card in her possession and I transfer 120k a month into that account using WISE from my Oz bank.

She then transfers 100k into HER account.

Sounds crazy but I'm changing from money in bank method to income method.

Reason being is preferred option as I need that monthly transfers to live off in Thailand and the bonus is I don't need to have a Thai WILL to enable her to access the 800k when I move along. 

[Thingamabob]

1 minute ago, DrJack54 said:

The 800k that I keep in Kasikorn savings account has a debit ATM card.

 

My partner keeps the card in her possession and I transfer 120k a month into that account using WISE from my Oz bank.

She then transfers 100k into HER account.

Sounds crazy but I'm changing from money in bank method to income method.

Reason being is preferred option as I need that monthly transfers to live off in Thailand and the bonus is I don't need to have a Thai WILL to enable her to access the 800k when I move along. 

Thanks for this, especially your point regarding the avoidance of the need for a will. 

[DrJack54]

4 minutes ago, Thingamabob said:

Thanks for this, especially your point regarding the avoidance of the need for a will. 

I opted for that as the only asset in my name is the Bank account with the 800k.

Everything else eg Car, Real estate etc is in her name. 

[khunPer]

On 12/5/2024 at 5:07 AM, DrJack54 said:

Any suggestions welcome.

Keep the 800k baht in a separate fixed-term account. That avoids accidentally withdrawal of deposit funds.

 

A secure way to move funds in my opinion is ti do it during the almost seven month 400k baht balance period. For example move them in two lots of each 400k baht, then no account has been under 400k baht.

 

I would wait and see if the immigration officer mentions anything upon next extension of stay.

[DrJack54]

19 minutes ago, khunPer said:

I would wait and see if the immigration officer mentions anything upon next extension of stay.

I'm pretty confident since I realized I had another account ( different bank) with 8k in it.

The error was dip of 1500b for one day. 

I'm going to build the 8k account ulp and for next extension (Nov) will provide 12 month bank statements, bank letters etc. 

[bigt3116]

5 hours ago, DrJack54 said:

That is correct. 

 

"Have read that this was accepted at various io, but you would need check with your imm office."

 

Someone posted that a while back. Someone else on the same thread posted this;

 

"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."

 

So maybe some offices will accept double funds in a joint account?

[DrJack54]

2 minutes ago, bigt3116 said:

So maybe some offices will accept double funds in a joint account?

Reports of some immigration offices accepting double the amount requirement for marriage.

 

That is not the case for extension based on retirement. 

 

[bigt3116]

46 minutes ago, DrJack54 said:

Reports of some immigration offices accepting double the amount requirement for marriage.

 

That is not the case for extension based on retirement. 

 

 

From Ubonjoe "For an extension based upon marriage it will not be accepted."

 

and "A joint account will not be accepted for a extension based upon marriage."

 

Same thread, a different poster "I had the same experience for my retirement visa a couple of years back when Immig in Chiang Mai accepted a double deposit. "

 

So it still seems like the best option is to ask the individual immigration office what their policy is.

 

🙂

 

 

[DrJack54]

35 minutes ago, bigt3116 said:

So it still seems like the best option is to ask the individual immigration office what their policy is.

Goes without saying. 

Joint bank account for double the required funds in vast majority of immigration offices will not be acceptable. 

[paddypower]

On 12/5/2024 at 1:42 PM, scubascuba3 said:

2 minutes? 

Some people. maybe he is one of  'the elite' ? 555

 

[paddypower]

22 hours ago, DrJack54 said:

I opted for that as the only asset in my name is the Bank account with the 800k.

Everything else eg Car, Real estate etc is in her name. 

we had a new arrival plus his new gf visit us (to welcome them to the area). I suggested using a land holding company, to hold the land he was proposing to buy and subdivide - prime land. his response was a casual ''naw - i trust her with my life' . we're talking about  an online gf from 3 months earlier. I often wonder, do many arrivals leave their mental facilities at home, when they move to Thailand.? good to know, they're still together. the kicker -  we  didn't get invited to the wedding. 555

[Fiskebolle]

On 12/6/2024 at 9:13 AM, DrJack54 said:

That would not work. 

After using an agent to obtain a 12 month extension to go back to doing it yourself with correct financials you would need to start over.

New non O 

@Dr. Jack, why would OP need to stick with agent for annual extensions if he can do himself with correct financials build of the year after?

[WorriedNoodle]

23 hours ago, DrJack54 said:

The 800k that I keep in Kasikorn savings account has a debit ATM card.

 

My partner keeps the card in her possession and I transfer 120k a month into that account using WISE from my Oz bank.

She then transfers 100k into HER account.

Sounds crazy but I'm changing from money in bank method to income method.

Reason being is preferred option as I need that monthly transfers to live off in Thailand and the bonus is I don't need to have a Thai WILL to enable her to access the 800k when I move along. 

Whilst I appreciate your information sharing, I cannot get my head around why you let your partner have full control of the ATM card over your 800k bank account used for immigration? Surely there is a less risky way of arranging the proceeds of your accounts goes to the partner went you do move on as you put? Each to their own of course, respect!

[DrJack54]

10 minutes ago, WorriedNoodle said:

I cannot get my head around why you let your partner have full control of the ATM card over your 800k bank account used for immigration?

To each their own.

So happens that today my WISE transfer 120k will land in that "immigration" account using WISE.

She will go to ATM (there's one in our condo building) and transfer 100k into her account.

 

She will pay for everything out of her account.

The main reason the monthly transfers from Oz go into the "immigration" bank account is that I'm switching to income method. 

After change to income method there will be virtually zero in the account other that the hour or so every month. 

[khunPer]

On 12/12/2024 at 9:15 AM, DrJack54 said:

I'm pretty confident since I realized I had another account ( different bank) with 8k in it.

The error was dip of 1500b for one day. 

I'm going to build the 8k account ulp and for next extension (Nov) will provide 12 month bank statements, bank letters etc. 

You can use two bank accounts, it's the total balance that matters. However, it seems like some immigration offices prefer it's one account, as it's easier to check.

[flexomike]

On 12/7/2024 at 9:59 AM, Lacessit said:

Question for the OP:

 

My last extension was November 3, 2024.

 

Prior to that, I had BB and KK accounts, both with over 800K. The 800K in the BB account was used to support the retirement extension.

The BB account is with a Chiang Mai branch. The KK account is in Chiang Rai.

I would like to close the CM account, and transfer to CR as more convenient. There is also the fact BB needs a week to get a 12 month statement, whereas KK can do the statement immediately.

 

Can I use the KK account to support my 2025 extension?

I use Bangkok for the monthly method, I just get a statement at six months on the spot, and another at 12 months, no need to wait for Bangkok Bank to order a 12 month statement, works perfect for me.

[flexomike]

On 12/12/2024 at 1:05 PM, Thingamabob said:

I have always understood that the 800k account would only be accepted by Thai immigration if in the sole name of the extension applicant.

That is the way that it has always been,