Providing For Wife And Kid If I Die

[torrenova]

I will renew my life assurance arrangements when back in the UK next month and whilst writing it in trust to remove it from my estate and thus from inheritance tax I understand, I want to look at the easiest ways to secure the following provisions.

Should I die, I want to provide for:

The purchase of a house which cannot be resold nor mortgaged by the mother of my child. Can this property be registered in the name of the child (now 1 year old) ?

The renewal of a vehicle with the current vehicle being sold or part exchanged at a fair price to part fund the new car purchase.

International schooling for the baby and educational needs through to post university studies.

A stipend for the mother for life.

Irregular ad hoc payments for necessary items.

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Now I know I can do some of this in trust from the UK and might have to do all of it as Thailand does not have trust laws and I do not want some Jonny come lately getting his hands on the money needs to provide for my daughter's education. Neither do I want any of the family coming around for loans or other handouts.

So as the majority of bills will be in THB and transaction balances will need to be maintained in THB, what are the best methods to exacute this plan ?

Any advice or comments most welcome.

[Morden]

I think that you need to consult a lawyer and an IFA in the UK. You also should consult a lawyer in Thailand. If you wish, I can put you in touch with a farang lawyer in Thailand - PM me to let me know.

Avoid amateur advice on this matter. It's too important.

[mijan24]

I agree with Morden and without being morbid suggest you change your wording to "when I die" - it happens to us all unless you have a secret you would care to share.