What happens if I die?

[Joe2]

Depending on the type of visa you have, you need to present your bank account when you apply to renew your 1 year visa. This must show that you have the required amount in your account for a period of 3 months before you apply. The bank account must be in your name only and a joint account with your wife is not acceptable.

So, what happens if I die??? How does my wife withdraw the amount in my bank account.? The bank says that you have to go to court on this issue and this can take up to 3 months. Let's say have 2 children form a previous marriage, it is possible that the court will decide that they have an equal share of what is in your account. If that is 400,000 baht ()marriage visa), you wife and children will each receive 133,000.....more if it's a non-immigration visa. This could apply if your children are in their 40's or 50's.

I am given to understand that the law in Thailand is that there will be an equal share and this has been brought about because of the Immigration ruling not because it is something you have done personally.

Does anyone know if Thai immigration will allow for your wife to withdraw the 400.000 from your personal account, which is there because of Thai Immigration, and any access will be shared. Of course, what you should do is ensure you don"t have in excess in your account depending on your type of visa.

[beachproperty]

Do a will!

Immigration has nothing to do with how your monies are distributed

[ubonjoe]

After you apply your extension and it is approved immigration does not care what happens to the money until you apply for the next one.

If you have a will it can make getting the money out of the bank quicker.

[hrjay]

You can add the wife as a POA, power of attorney to any of your accounts or open a new one with her as POA. You and your wife need to fill out many additional forms. She can withdraw money if you become ill (and I am guessing until you are declared dead and a death certificate is issued). The account shows in your name only and a bank letter to immigration would indicate this. However, the bank has records in their file for the account providing them with the information needed to let your wife withdraw from the account in your name.

[khwaibah]

I'm with Bangkok Bank. My account is in my name only BUT my wife is added as the sole beneficiary of this account by Bangkok Bank. These forums were singed and witness in the bank. When I go tits up all my wife has to do is take the death certificate to the bank and the account is hers. In the mean while I trust my wife and she keeps the atm card, bank book and pin number. She will not have any problem. BTW OP its 2 months seasoning for the 400k (marriage extension) not 3 months.

[OMGImInPattaya]

I'm assuming you have an ATM card linked to your account. As long as she has access to the card and PIN if you become incapacitAted or die she would have no problem draining the account within a few days to a week, depending on what you set as the max daily withdrawal limit.

I did this with a family member, who had almost 1M on deposit with a Thai bank, no problem.

[billd766]

I have a joint account with my wife and a single account in my name only.

She has a debit card for each account so getting money out will be no problem.

What MAY be a problem in the future when I die is that my pensions are paid into the joint account and still will be.

I am just wondering if KBank will leave the account in the joint name or whether she will have to open an account in her name only.

[mahjongguy]

"...As long as she has access to the card and PIN if you become incapacitAted or die she would have no problem draining the account..."

That's a common solution but not the best. For a non-joint account, the moment you die it becomes a crime for anyone to withdraw the money.

[OMGImInPattaya]

"...As long as she has access to the card and PIN if you become incapacitAted or die she would have no problem draining the account..."

That's a common solution but not the best. For a non-joint account, the moment you die it becomes a crime for anyone to withdraw the money.

Yes, if there are multiple potential beneficiaries it would not be ideal...I was thinking of cases of just a husband and wife who want a simple solution.

[Happy Grumpy]

"...As long as she has access to the card and PIN if you become incapacitAted or die she would have no problem draining the account..."

That's a common solution but not the best. For a non-joint account, the moment you die it becomes a crime for anyone to withdraw the money.

Especially if they don't pay the 10% tax, if caught.

Have them listed as the sole beneficiary of your account.

Make a will.

Cheap.

Simple.

[billd766]

"...As long as she has access to the card and PIN if you become incapacitAted or die she would have no problem draining the account..."

That's a common solution but not the best. For a non-joint account, the moment you die it becomes a crime for anyone to withdraw the money.

Especially if they don't pay the 10% tax, if caught.

Have them listed as the sole beneficiary of your account.

Make a will.

Cheap.

Simple.

I can see the problem being at the UK end if the joint account for the pensions is closed as she will have to deal with 3 separate pension providers by phone and while she can speak fair English, Geordie for the state pension will be beyond her.

[OMGImInPattaya]

"...As long as she has access to the card and PIN if you become incapacitAted or die she would have no problem draining the account..."

That's a common solution but not the best. For a non-joint account, the moment you die it becomes a crime for anyone to withdraw the money.

Especially if they don't pay the 10% tax, if caught.

Have them listed as the sole beneficiary of your account.

Make a will.

Cheap.

Simple.

Has the proposed inheritance tax actually been passed and implemented. The last I read, the Thai one-percent were having some success delaying or putting the kabosh on the idea?

[lungbing]

If you have an account in joint names and you die, then when your wife presents your death certificate to the bank your name will be removed leaving the account in her name only.

This is also true of British banks as I specifically asked this question of my bank just last week. I was told that an original death certificate must be presented plus a certified English translation.

[Apiwan2]

Make a will ?

I have a will made in UK .

Will this delay things or is it best to make another one in Thai.

With a Thai lawyer ?

[mahjongguy]

You really should have a Thai Will. No lawyer needed. You can get one for free from the Amphur. If nothing else, just write one on a napkin and have it witnessed.

[mahjongguy]

"If you have an account in joint names and you die, then when your wife presents your death certificate to the bank your name will be removed leaving the account in her name only.

This is also true of British banks as I specifically asked this question of my bank just last week. I was told that an original death certificate must be presented plus a certified English translation."

I think the question raised was whether or not the account number would change. I don't know about Thailand but in the U.S., yes, it would have to be changed. Anyway, the point was about benefits being directly deposited and that gets screwed up if the account number changes . Surely those benefits should cease upon death, no?

[NancyL]

My goodness, this topic has been beat to death in other posts.

OMGImInPattaya -- anyone who uses an ATM card to withdraw from an account that isn't in their name in guilty of fraud. This is esp. obvious when the account holder is dead. Banks are willing to release funds directly to hospitals to pay medical bills if someone is incapacitated.

Kwaibah -- you'll probably find that your bank will have to go thru the "home office" for approval, so don't count on your wife having immediate access to the funds to pay your funeral expenses. Most branch banks only have authority to release 50,000 - 100,000 baht.

etc, etc.

The best solution is to have a Will in your home country and a will in Thailand and to make sure your Thai wife is able to access a couple hundred thousand baht immediately upon your death to deal with your final expenses and living expenses until she can get everything organized with the banks. Some of you may know that I help elderly expats with medical problems here in Chiang Mai and that inevitably means I end up helping Thai widows. I've seen some very sad, sad situations where beautiful, caring Thai women gave the best years of their lives caring for some rather rude characters, steadfastly believing his words that they'd be "taken care of" once he was gone. Some were royally screwed.

Do the right thing. Set up an account for your Thai lady to give her money for the couple months until she can claim your bank accounts -- even with a Final Will it takes that long. Explain to her what to do in your passing. Write an Advance Directive about how you don't want to be kept alive at all costs and you don't want her to spend money on a big funeral. Believe me, she'll be under pressure from her family and village to keep you alive at all costs and once dead to have the funeral of the century. Put it in writing what you want so she'll have a piece of paper to wave around.

[Jip99]

"If you have an account in joint names and you die, then when your wife presents your death certificate to the bank your name will be removed leaving the account in her name only.

This is also true of British banks as I specifically asked this question of my bank just last week. I was told that an original death certificate must be presented plus a certified English translation."

I think the question raised was whether or not the account number would change. I don't know about Thailand but in the U.S., yes, it would have to be changed. Anyway, the point was about benefits being directly deposited and that gets screwed up if the account number changes . Surely those benefits should cease upon death, no?

No it will not!

It depends on whether the account was set up with either to sign or both to sign. I also suspect it will vary from bank to bank. If there is 800k sitting in there expect them to ask for a court order (equivalent tp probate/letters of admin).

In the UK several banks open a brand new account for the surviving party.

[Jip99]

"...As long as she has access to the card and PIN if you become incapacitAted or die she would have no problem draining the account..."

That's a common solution but not the best. For a non-joint account, the moment you die it becomes a crime for anyone to withdraw the money.

Especially if they don't pay the 10% tax, if caught.

Have them listed as the sole beneficiary of your account.

Make a will.

Cheap.

Simple.

I can see the problem being at the UK end if the joint account for the pensions is closed as she will have to deal with 3 separate pension providers by phone and while she can speak fair English, Geordie for the state pension will be beyond her.

The State pension is of no concern - it ceases on your death.

Magically, the DWP seem to be quickly aware of deaths in Thailand.

I think almost any Thai wife would need help with corresponding with pension providers. An executor named in a Will could be the obvious choice.

[Jip99]

My goodness, this topic has been beat to death in other posts.

OMGImInPattaya -- anyone who uses an ATM card to withdraw from an account that isn't in their name in guilty of fraud. This is esp. obvious when the account holder is dead. Banks are willing to release funds directly to hospitals to pay medical bills if someone is incapacitated.

Kwaibah -- you'll probably find that your bank will have to go thru the "home office" for approval, so don't count on your wife having immediate access to the funds to pay your funeral expenses. Most branch banks only have authority to release 50,000 - 100,000 baht.

etc, etc.

The best solution is to have a Will in your home country and a will in Thailand and to make sure your Thai wife is able to access a couple hundred thousand baht immediately upon your death to deal with your final expenses and living expenses until she can get everything organized with the banks. Some of you may know that I help elderly expats with medical problems here in Chiang Mai and that inevitably means I end up helping Thai widows. I've seen some very sad, sad situations where beautiful, caring Thai women gave the best years of their lives caring for some rather rude characters, steadfastly believing his words that they'd be "taken care of" once he was gone. Some were royally screwed.

Do the right thing. Set up an account for your Thai lady to give her money for the couple months until she can claim your bank accounts -- even with a Final Will it takes that long. Explain to her what to do in your passing. Write an Advance Directive about how you don't want to be kept alive at all costs and you don't want her to spend money on a big funeral. Believe me, she'll be under pressure from her family and village to keep you alive at all costs and once dead to have the funeral of the century. Put it in writing what you want so she'll have a piece of paper to wave around.

NancyL, I have no wish to be pedantic but someone would not be guilty of fraud by using the deceased's ATM card. They would have committed a fraudulent act but you have to be tried first before you can be judged guilty. Frankly, if the widow is the rightful beneficiary no one is going to sue her.

From a practical point of view the ATM strategy is sound and I have seen it employed on several occasions. There is a bigger risk having the card retained for keying errors than there is of facing a fraud charge.

The letter about not spending big money on a funeral is as much use as an ashtray on a motorbike. Despite the deceased's wishes the widow will not lose face for the sake of parsimony. The family are unlikely to be able to read English anyway (or care) and they - and the widow - will want to be seen to be doing the right thing according to their Buddhist culture. .... and that is a decent send off into the next life.

To the OP, the 400k has nothing to do with immigration, they are not interested and have no influence over your estate. Once you are dead you are no longer a statistic.

[StasD]

if I die does not matter what will happen

[thrilled]

Make sure you have A will.Or in your bank accounts have transfer on death.Thats all you need

[elgordo38]

I'm with Bangkok Bank. My account is in my name only BUT my wife is added as the sole beneficiary of this account by Bangkok Bank. These forums were singed and witness in the bank. When I go tits up all my wife has to do is take the death certificate to the bank and the account is hers. In the mean while I trust my wife and she keeps the atm card, bank book and pin number. She will not have any problem. BTW OP its 2 months seasoning for the 400k (marriage extension) not 3 months.

What branch of Bangkok Bank is this?? I tried this with the one that holds my accounts and they would have none of it.

[elgordo38]

What 10% tax are you talking about Happy Grumpy??

[OMGImInPattaya]

My goodness, this topic has been beat to death in other posts.

OMGImInPattaya -- anyone who uses an ATM card to withdraw from an account that isn't in their name in guilty of fraud. This is esp. obvious when the account holder is dead. Banks are willing to release funds directly to hospitals to pay medical bills if someone is incapacitated.

Kwaibah -- you'll probably find that your bank will have to go thru the "home office" for approval, so don't count on your wife having immediate access to the funds to pay your funeral expenses. Most branch banks only have authority to release 50,000 - 100,000 baht.

etc, etc.

The best solution is to have a Will in your home country and a will in Thailand and to make sure your Thai wife is able to access a couple hundred thousand baht immediately upon your death to deal with your final expenses and living expenses until she can get everything organized with the banks. Some of you may know that I help elderly expats with medical problems here in Chiang Mai and that inevitably means I end up helping Thai widows. I've seen some very sad, sad situations where beautiful, caring Thai women gave the best years of their lives caring for some rather rude characters, steadfastly believing his words that they'd be "taken care of" once he was gone. Some were royally screwed.

Do the right thing. Set up an account for your Thai lady to give her money for the couple months until she can claim your bank accounts -- even with a Final Will it takes that long. Explain to her what to do in your passing. Write an Advance Directive about how you don't want to be kept alive at all costs and you don't want her to spend money on a big funeral. Believe me, she'll be under pressure from her family and village to keep you alive at all costs and once dead to have the funeral of the century. Put it in writing what you want so she'll have a piece of paper to wave around.

NancyL, I have no wish to be pedantic but someone would not be guilty of fraud by using the deceased's ATM card. They would have committed a fraudulent act but you have to be tried first before you can be judged guilty. Frankly, if the widow is the rightful beneficiary no one is going to sue her.

From a practical point of view the ATM strategy is sound and I have seen it employed on several occasions. There is a bigger risk having the card retained for keying errors than there is of facing a fraud charge.

The letter about not spending big money on a funeral is as much use as an ashtray on a motorbike. Despite the deceased's wishes the widow will not lose face for the sake of parsimony. The family are unlikely to be able to read English anyway (or care) and they - and the widow - will want to be seen to be doing the right thing according to their Buddhist culture. .... and that is a decent send off into the next life.

To the OP, the 400k has nothing to do with immigration, they are not interested and have no influence over your estate. Once you are dead you are no longer a statistic.

I completely agree...in simple cases the use of the deceased ATM card is the easiest solution. Technically a crime might be committed but if the widow is the only heir, she's hardly likely to file a police complaint against herself. And in the context of the op, where specific reference was made to a "retirement visa" account that can only be held in one name, it makes even more sense. Shortly before death and right after, there are often medical and funereal expenses that can easily total several hundred thousand baht so the widow having quick access to sufficient funds is imperative. Other sums of money can be held in joint accounts or even other individual accounts and be transferred by a will or death certificate but these will take time.

I too have experience with the problems of Thai widows collecting monies and benefits to which they are morally and legally entitled to (but in Pattaya) and it's often a sad situation like she describes. I've also seen this in the context of same-sex relationships. I agree with her that if one is in a committed trusting marriage or LTR, one should really have their affairs in order but for many reasons people, both expats abroad and people back home, often neglect to do this.

[mankondang]

I have money in both Thai and country of origin banks. I have Thai relatives (wife not official) in Thailand and children from my previous marriage in my country of origin. I have made two wills, non conflicting. One in each country. I have appointed executors in each country. This, although sounds complicated, legally covers all my wishes.

[ubonjoe]

Some off topic and nonsensical posts have been removed.

[khwaibah]

My goodness, this topic has been beat to death in other posts.

OMGImInPattaya -- anyone who uses an ATM card to withdraw from an account that isn't in their name in guilty of fraud. This is esp. obvious when the account holder is dead. Banks are willing to release funds directly to hospitals to pay medical bills if someone is incapacitated.

Kwaibah -- you'll probably find that your bank will have to go thru the "home office" for approval, so don't count on your wife having immediate access to the funds to pay your funeral expenses. Most branch banks only have authority to release 50,000 - 100,000 baht.

etc, etc.

The best solution is to have a Will in your home country and a will in Thailand and to make sure your Thai wife is able to access a couple hundred thousand baht immediately upon your death to deal with your final expenses and living expenses until she can get everything organized with the banks. Some of you may know that I help elderly expats with medical problems here in Chiang Mai and that inevitably means I end up helping Thai widows. I've seen some very sad, sad situations where beautiful, caring Thai women gave the best years of their lives caring for some rather rude characters, steadfastly believing his words that they'd be "taken care of" once he was gone. Some were royally screwed.

Do the right thing. Set up an account for your Thai lady to give her money for the couple months until she can claim your bank accounts -- even with a Final Will it takes that long. Explain to her what to do in your passing. Write an Advance Directive about how you don't want to be kept alive at all costs and you don't want her to spend money on a big funeral. Believe me, she'll be under pressure from her family and village to keep you alive at all costs and once dead to have the funeral of the century. Put it in writing what you want so she'll have a piece of paper to wave around.

Incorrect NL. And that "Thai lady" you refer to is my wife and that comment is totally inappropriate.

[Doc46]

"...As long as she has access to the card and PIN if you become incapacitAted or die she would have no problem draining the account..."

That's a common solution but not the best. For a non-joint account, the moment you die it becomes a crime for anyone to withdraw the money.

How do you proof that, if your death you are not going to the cops and report this are you?

[maderaroja]

Do a will!

Immigration has nothing to do with how your monies are distributed

File the will at the Amphur office. My Amphur had a "standard" form to use. It came from a book of "standard" forms and was in the computer waiting for me to supply the bank account information and property information. No charge, but I supplied cookies all around.