Where There's A Thai Will. . .

[Godders]

I am making a Thai Will and went to check with my local Kasikorn bank branch what they would require from my executors to give them control of my financial assets. They had no idea, but suggested that if a Thai partner was a beneficiary I should simply open a joint account in both our names and she could milk it once I popped my clogs.

To check whether this was the official line of one of the biggest and most customer aware banks in Thailand, I emailed the Kasikorn's information department at the address given on their website. A week later I had heard nothing, so I rang them.

A very pleasant young man apologised, said he would consult his Webmaster, and returned to inform me the email had not been received and would I send again, please. Wasn't there anyone at Kasikorn's HQ who could give me the information I needed while I was on the telephone, I asked.

"Well, I think you will need to get a court order," said the young man, before urging me to try emailing for a second time.

I have no idea whether what he said was correct. By the time Kasikorn get round to sending me a reply by email I could well be kicking up daises, or their Thai equivalents.

Meanwhile, if anyone out there (or even UP there) can help. . .

[Dragonman]

I am making a Thai Will and went to check with my local Kasikorn bank branch what they would require from my executors to give them control of my financial assets. They had no idea, but suggested that if a Thai partner was a beneficiary I should simply open a joint account in both our names and she could milk it once I popped my clogs.

To check whether this was the official line of one of the biggest and most customer aware banks in Thailand, I emailed the Kasikorn's information department at the address given on their website. A week later I had heard nothing, so I rang them.

A very pleasant young man apologised, said he would consult his Webmaster, and returned to inform me the email had not been received and would I send again, please. Wasn't there anyone at Kasikorn's HQ who could give me the information I needed while I was on the telephone, I asked.

"Well, I think you will need to get a court order," said the young man, before urging me to try emailing for a second time.

I have no idea whether what he said was correct. By the time Kasikorn get round to sending me a reply by email I could well be kicking up daises, or their Thai equivalents.

Meanwhile, if anyone out there (or even UP there) can help. . .

Probate in Thailand is only through the Court! However most banks, and it is up to the individual manager, will release money on sight of the Will if it is clear, and particularly if it is a Public Will, as long as there's not millions in the account.

[Chopper]

You should make sure that your lawyer, executor as well as the beneficiary's have a copy of the Will. Each page of the Will should contain the lawyers stamp or seal and of course they should have the necessary licence to be able to execute such a document (no pun intended).

I stand to be corrected but does the lawyer not have to register the Will at a court once it has been signed and sealed. In any event as Dragonman has said 'Probate in Thailand is only through the Court!'

[cwilliam]

You should make sure that your lawyer, executor as well as the beneficiary's have a copy of the Will. Each page of the Will should contain the lawyers stamp or seal and of course they should have the necessary licence to be able to execute such a document (no pun intended).

I stand to be corrected but does the lawyer not have to register the Will at a court once it has been signed and sealed. In any event as Dragonman has said 'Probate in Thailand is only through the Court!'

Why can't they let you declare a beneficiary like other countries.Would like to know how much they steal,I mean keep from people that die every year.

[Thaddeus]

I don't know if the Kasikorn do this, but the Bangkok Bank do.

They will print a message in the last page of the book containing the name of an alternate drawer of the account should you die..... it is only readable using the light from one of those lights that checks the validity of banknotes.

[Chopper]

You should make sure that your lawyer, executor as well as the beneficiary's have a copy of the Will. Each page of the Will should contain the lawyers stamp or seal and of course they should have the necessary licence to be able to execute such a document (no pun intended).

I stand to be corrected but does the lawyer not have to register the Will at a court once it has been signed and sealed. In any event as Dragonman has said 'Probate in Thailand is only through the Court!'

Why can't they let you declare a beneficiary like other countries.Would like to know how much they steal,I mean keep from people that die every year.

cwilliam, I am looking at my Will and the beneficiary(s) are declared.

I 'name', age, nationality, holder of passport number do hereby instruct that upon my death the following assets shall be devolved to 'name holder of passport number/ID card number...'

It is advisable to have a translation in English or your native language to assist the executor and beneficiary(s) upon your demise, though that said a Thai court will only accept a Will that is in Thai.

[cwilliam]

You should make sure that your lawyer, executor as well as the beneficiary's have a copy of the Will. Each page of the Will should contain the lawyers stamp or seal and of course they should have the necessary licence to be able to execute such a document (no pun intended).

I stand to be corrected but does the lawyer not have to register the Will at a court once it has been signed and sealed. In any event as Dragonman has said 'Probate in Thailand is only through the Court!'

Why can't they let you declare a beneficiary like other countries.Would like to know how much they steal,I mean keep from people that die every year.

cwilliam, I am looking at my Will and the beneficiary(s) are declared.

I 'name', age, nationality, holder of passport number do hereby instruct that upon my death the following assets shall be devolved to 'name holder of passport number/ID card number...'

It is advisable to have a translation in English or your native language to assist the executor and beneficiary(s) upon your demise, though that said a Thai court will only accept a Will that is in Thai.

I mean on bank accounts all in the states have a place for beneficiaries.

[BKKstan]

If you die,why can't the wife use your atm to empty the account?

[Thaddeus]

If you die,why can't the wife use your atm to empty the account?

Two possibilities..... she is too slow, rigor mortis has already set in and she can't extract it from your death grip.

She either doesn't know, or has forgotten the PIN number.

[Heng]

Not to mention fixed accounts and instruments like Omsin bonds can't be accessed by ATM. In cases where there isn't a will, the next of kin will apply to be the executor of the estate (in Thai it's literally "manager of the inheritance") with the court. It can be a drawn out process in non-nuclear families (kids from other marriages, non registered marriages, etc.). In my experience, most folks will distribute their assets when they get into their 60's and 70's to the next generation of the family.

[edd]

We have had a joint bank account for 18 years and if I died she would not have to ask anyone for permission to access any of our joint funds.

We both have wills just in cast we both get killed at the same time so our families are taken care of.

If you have a proper marriage where is the problem

OH! EXCEPT OF YOU WOULD BE DEAD, THATS NOT SO GOOD.

[Losangels]

I don't know if the Kasikorn do this, but the Bangkok Bank do.

They will print a message in the last page of the book containing the name of an alternate drawer of the account should you die..... it is only readable using the light from one of those lights that checks the validity of banknotes.

Are you sure of this? Once one person in a joint account dies and the bank knows about it the account is frozen until you can present to the bank a court order showing that you are the benefitciary or what Thais called "manager of the assets". The remaining account holder can have access to the fund as long as the bank is unaware that one of the account holder died .

[Thaddeus]

I don't know if the Kasikorn do this, but the Bangkok Bank do.

They will print a message in the last page of the book containing the name of an alternate drawer of the account should you die..... it is only readable using the light from one of those lights that checks the validity of banknotes.

Are you sure of this? Once one person in a joint account dies and the bank knows about it the account is frozen until you can present to the bank a court order showing that you are the benefitciary or what Thais called "manager of the assets". The remaining account holder can have access to the fund as long as the bank is unaware that one of the account holder died .

"They will print a message in the last page of the book containing the name of an alternate drawer of the account should you die"

An alternate drawer of a single name account...... our local bank explained that it was for the express purpose of removing problems should you snuff it. If they were legally correct, I have no idea.

But around these parts, I would confidently expect the money to be out of the account before the death is reported...... given chance obviously.

[cwilliam]

Not to mention fixed accounts and instruments like Omsin bonds can't be accessed by ATM. In cases where there isn't a will, the next of kin will apply to be the executor of the estate (in Thai it's literally "manager of the inheritance") with the court. It can be a drawn out process in non-nuclear families (kids from other marriages, non registered marriages, etc.). In my experience, most folks will distribute their assets when they get into their 60's and 70's to the next generation of the family.

Don't forget safety boxes no benny can be listed

[Heng]

From what I hear, I think you can set up multiple access from the beginning, of course that may not provide one with a sense of security that a safety deposit box is supposed to provide.... naturally the rules will vary according to each bank and private vault/box company. Not sure, haven't inquired.

Edited September 13, 2006 by Heng