What happens with money in the bank when the farang dies?

[tandor]

15 hours ago, tandor said:

already mentioned.

i replied initially suggesting make a Thai Will bequeathing the Bond money. When i posted it i read where this had already been mentioned. I edited my reply.

[black tabby12345]

On 5/26/2025 at 8:22 AM, blaze master said:

 

 

 

This asshol* deserves a big hole on his skull.

[blaze master]

4 hours ago, black tabby12345 said:

 

This asshol* deserves a big hole on his skull.

 

Aaaaaand you're gone. 

[ericbj]

On 5/26/2025 at 8:14 AM, Equatorial said:

Are there any steps that one needs to take to ensure that the wife gets the money in the bank (e.g., the 400k or 800k financial requirements for visa), in case of husband's death? 

Am not sure if this suggestion will help in your particular case: it does concern both [1] cash that one is obliged to hold in a Thai bank account for reasons of visa extensions and [2] "cash" in the form of bullion.

 

In the case of [1] a document in Thai has been drafted and is being registered with a Thai lawyer bequeathing the balance of the account to one of my two "adopted daughters", a Thai national.  (Both women have been known to me for nearly eighteen years, since I assisted their Australian Open University studies)

There is a disadvantage with this arrangement - we are discovering, following the recent decease of her Japanese mother-in-law - caused by administrative procedures, costs, and delays in releasing the proceeds of her in-law's bank account.

 

(An alternative would be for me to put the cash in a joint savings account.  She would be able to access that at any time.  Until such time as the bank discovers I am no longer of this world; when, according to the bank manager, the account would be frozen.  Until…?)
Drawback: I would suffer a loss of interest on a 12-month term-deposit.

 

For my other "adopted daughter", a Burmese national, I have arranged for her to be the beneficiary upon my death of a small amount of bullion managed through a dealer in the Cayman Islands and held in my name with a well-established bullion-vaulting company in Singapore.  Upon my passing away, the bullion will be transferred automatically to an account in her name, and she can then sell the coins as and when needed.
A slight complication: she must be aware of her liability to pay income-tax on cash transferred to her Thai bank account.
(Or go to Singapore and cash the coins there?)