Wife Automatically Inherirts Bank Acct. ?

[tijnebijn]

If I make her the beneficiary of the account and I kick the bucket, (or maybe just turn a little pail), why would the American Embassy be concerned. I don't quite understand that. But then there's a lot of things I don't understand.

You are right, there are a lot of things which are not clear. But I am sure a lawyer is not needed.

The point is that if a foreigner dies abroad the emabassy has to be notified and his/her estate will be frozen until the emabassy posts no objection to distribution of the estate. This can take a lot of time.

It is my understanding that this would apply to people listed as "beneficiary".

Whereas, if a wife has "Power of attorney" she has access to the funds at any time even if the account is in the foreigner's name only.

Am I correct in this understanding?

opalhort

You are probably right, at least until we hear otherwise. On the other hand, it would simplify things if Thai Immigration would just allow man and wife to share an account jointly as long as it is large enough to qualify, in my case, a million baht. It DOES prove that you are able to support yourself, as well as your wife, and it was my impression that was the intent in the first place. I doesn't make sense.....with a marriage visa only four hundred thousand baht is required for a man and wife to support themselves. Plus the forty thousand a month from either party.

Before it's pointed out to me, 40,000 X 12 = 480,000 plus the 400,000 in the bank equals 840,000. That being the case, with Immigration's permission, I more than qualify.......go figure.

You are wrong for the requirements for extension of marriage , it is 400k in the bank account OR 40k monthly income ,

so with 1mil , you have more then double the amount required !

What I do with my account , And I with my wife is I think this is called benificiary , me having an atm card of her account

and she from mine , without having a joint account , but both having access to it ....

Making a will I read an very interesting warning from I think Guesthouse , who has got extenting experience on the matter ,

can't recall what all his advise was , but we can hope if he's got the time to post in this thread , it is complicated and

much needed information for all of us living as an expat really ......

[JimGant]

Bangkok Bank's internet banking would allow you link all your accounts together, to include your single account, your joint account (assuming that still exists), and/or a single account in your wife's name. Then, when you die, just have her log onto your Bangkok Bank internet banking account and, with a few key strokes, transfer the money out of your account to one with her name on it. Simpler -- and safer -- than draining with an ATM card.

And, I don't think this would be illegal. The internet account -- at least in our experience -- is in both our names, although some accounts within it are in our individual names. Nevertheless, only one of us is required to authorize a transfer between any and all of these accounts.

[Jimjim]

Make a will, make a will, make a will!

[ernieK24]

Make a will, make a will, make a will!

Maybe I'll make a will.............but then who do I give it to ? my wife.....the American embassy, or both? And what, pray tell will THEY do with it. Let it get lost in their antiquated filing system...? Or what.....inquiring minds need to know !

I have been hoping someone.....just someone who knows for sure the proper way to handle it would come on and post an answer that we could all settle on.........finally........... Whooda' thunk this would stir up so much interest. Glad I brought it up, now make me happy with an ACCURATE ANSWER. I've got one foot in the grave and the other on a banana peel, and I need to get this thing cleared up so I can take care of my who has taken such good care of me, and at 85, time is runnin' out.

Thanks for all your response.....this is such a great Forum.....ErnieK