Kicking the Bucket

[Doodoo]

OK fellas

I think I have all the bases covered but one never knows


When I will Kick The Bucket I have left a Thai Will(presently at the Lawyers Office and she has a copy also) to identify the Girl Friend as the recipient to my bank account

Any tales from others if this is the correct way to proceed?

[Laan Yaa Mo]

I will follow this topic with interest as I have a bank account in Toronto and one in Khon Kaen. I sure don't want my assets to be devoured by any government when I kick the bucket.

[pipoz4444]

LYM,

Two Wills, one in Thailand and one back home. Can nominate different beneficiaries in each country and each Will cannot over ride the other.

Legal according to the Australia lawyer, don't know about elsewhere.

I for one, will ensure the Government parasites get SFA Leave it to those who deserve it.

pipoz4444

[Laan Yaa Mo]

LYM,

Two Wills, one in Thailand and one back home. Can nominate different beneficiaries in each country and each Will cannot over ride the other.

Legal according to the Australia lawyer, don't know about elsewhere.

I for one, will ensure the Government parasites get SFA Leave it to those who deserve it.

pipoz4444

Thanks.

[semperfiguy]

OK fellas

I think I have all the bases covered but one never knows


When I will Kick The Bucket I have left a Thai Will(presently at the Lawyers Office and she has a copy also) to identify the Girl Friend as the recipient to my bank account

Any tales from others if this is the correct way to proceed?

Doodoo, don't expect that your girlfriend can walk into the bank after your death and claim the funds in your bank account by simply presenting a copy of your Will. The bank clerk may have told you that, but in reality, she will have to have the Will probated which could take weeks to months depending on how much she greases the hand of the attorney she finds who will try rip her off and claim a percentage of your funds for his fee. If this is the route you will take, then it might be a good idea to consult with an attorney right now and get a commitment from him on the fees for his services, and even have him put it in writing with a copy for your girlfriend. Take her along as well so he can coach her on the process. For sure, every rat imaginable will surface once you are gone, and your girlfriend will go through hell to get things finalized.

[deankham]

This is a useful thread and raises some concerns I have in general about the ability of my wife to 'handle' things if I die before her.

Most of my assets are in the UK, and although I do have a will I wonder how easy or difficult it will really be for my wife and daughter to get access to everything.

Regarding Thai bank accounts I have told my teenage daughter if I die unexpectedly she should access the banking app and transfer the max daily limit until it's all gone.
If my wife were to die before me I plan on doing the same with her thai bank account.

I'm not sure if this approach is legal and if it would get anyone into trouble with the law. Interested in thoughts on this.

[the-monk]

I know that in many countries nothing can be LEGALLY done untill the death Certificate has been issued by the proper authorities ( hospital, doctor, medical examiner ), here in Thailand i have no clue but its a question of great interest. What about a Single signature joint account (a joint account where only one of the 2 parties signature is required ) would that work ? For example when you die will your spouse have access to the bank account being one of the 2 signatures?

[Doodoo]

Semper
"Doodoo, don't expect that"
I am not expecting anything if you read what I posted
I am looking for "Any tales from others if this is the correct way to proceed?"

[glalt]

I do have a will and it allows me to sleep better at night knowing that my wife will be taken care of with no financial problems. I have a good friend who has been living with a Thai lady for several years. They are not married. He is my age and his health is not the best. I asked him what will happen to his girlfriend when he dies. He gave me a blank look and said that he has never thought about it. I suggested that he have a will made because his girlfriend would get nothing without him having a will. He now has a will and he too sleeps better.

[Jello]

Not related to wills but of interest to those who rent.
A acquaintance passed away unexpectedly one month after he paid one year in advance on his rent. His girlfriend of (10+ years) name was not on the rental agreement. I guess he didn’t think that would ever be an issue.
A few days after he had passed away the landlord showed up and told her to get out or sign a new lease and pay the rent (again)! I guess the landlord was within his rights, capitalizing on her loss. Some people have zero empathy.
Oh, and he didn’t have a will. His Thai bank account is frozen until his children show up and sort it out.

[pipoz4444]

This is a useful thread and raises some concerns I have in general about the ability of my wife to 'handle' things if I die before her.

Most of my assets are in the UK, and although I do have a will I wonder how easy or difficult it will really be for my wife and daughter to get access to everything.

Regarding Thai bank accounts I have told my teenage daughter if I die unexpectedly she should access the banking app and transfer the max daily limit until it's all gone.
If my wife were to die before me I plan on doing the same with her thai bank account.

I'm not sure if this approach is legal and if it would get anyone into trouble with the law. Interested in thoughts on this.

Hi Dean

I had the same concern when working in Qatar (re. assets kept in Qatar), as to how the TG would get access to and receive those funds in my Qatar Bank and also how she would get entitlements that would be due to me from the Company, in the event of my demise (Salary, Gratuity, Payment on Death etc).

So I gave Power of Attorney to my friend in Qatar and legally registered it with both the Bank and the Company HR Department, along with including authorized instructions for the process, for both the Bank and Company to follow. should I no longer be here. Those instructions also nominated a Legal Firm and Lawyer in Bangkok who was to be contacted by both in the event.

Then gave a reciprocal copy of the Document to that Legal Firm in Bangkok (with all Qatar Contact Details) which he was to give to her in event that I was to pass on. Within that Document was an Fee Amount / Structure which the LF would be paid, to act on her behalf.

Then told my friend in Qatar, that I would find a way to come back and haunt him, if he didn't do what I instructed and follow it through to make sure she received it all. Then bought him a JD and Coke. . Then gave a USB will all the information/documentation on it, to my other friend in Bangkok who knew her.

pipoz4444

[semperfiguy]

I know that in many countries nothing can be LEGALLY done untill the death Certificate has been issued by the proper authorities ( hospital, doctor, medical examiner ), here in Thailand i have no clue but its a question of great interest. What about a Single signature joint account (a joint account where only one of the 2 parties signature is required ) would that work ? For example when you die will your spouse have access to the bank account being one of the 2 signatures?

The Monk, it is my understanding that joint accounts in Thailand don't work the same way as they do in the West where the surviving party has "rights of survivorship" wherein upon the death of one, the assets are transferred to the surviving joint owner, and a withdrawal can be made with ease. In Thailand there is a line of heirship, and all the funds may not necessarily flow to the surviving account holder. With a Will or in the absence of a Will, there must be a court probate to determine who gets what.

In my case I was advised by upper management at two branches of Bangkok Bank to set up a Power of Attorney using the banks standard template, and my wife and I have access to each other's bank accounts. Of course, the POA is null and void upon the death of the one who appoints his/her representative, so these same bank managers told me to make sure the survivor runs to the bank and makes all the appropriate withdrawals or transfers before the bank learns of the death and freezes the account. Is that legal....probably not....but it seems to be common practice here.

[Doodoo]

Pipoz
Be careful when leaving Qatar
I also worked there and went back to close my accounts . Had it not been for a resourceful lady I could have left an account there with a sizeable amount
One thing was that I wanted to withdraw cash and was told there was a limit (I think was $5000USD) and would have to come back day after day to withdraw.

Good luck

[pipoz4444]

Pipoz
Be careful when leaving Qatar
I also worked there and went back to close my accounts . Had it not been for a resourceful lady I could have left an account there with a sizeable amount
One thing was that I wanted to withdraw cash and was told there was a limit (I think was $5000USD) and would have to come back day after day to withdraw.

Good luck

hi Doodoo,

Yes if you are with HSBC its a nightmare. But I am with another Bank and they are a dream to deal with.

I can keep my account open with them for years after I leave and retire to Thailand. Even when I no longer hold a QID.

Anyway, back to your question re Wills, one thing to remember, if you are living / working overseas, is to be careful of / understand, the Laws of the Land.

The Laws of the Land in some the Middle East are different, in that, if you do pass away, my experience is that your matters of affairs, will need to be finalized /settled by the oldest MALE member of your family. If you don't have a Son, then your Father, Uncle or the nearest living male relative and that your affairs cannot be settled by your wife, even if she is living in the Country with you.

I know of three cases where gentlemen died whilst working in ......... and in each case his Son or his Brother had to fly into ........... finalize his affairs/matters, including the signing off all the documents for his repatriation and the clearances with the Banks and his payments, on death from the Company, etc. Very difficult to navigate for a GF, if you are divorced / separated and only have a girlfriend, no recognized relationship, especially if you wish to leave it to her.

I suppose the moral of the story might be "choose carefully where you live and choose very very carefully where you die".

pipoz4444

[pipoz4444]

Hi Dean,

Unfortunately, I don't think Thailand has a Trust System with Trustees, that can be set up by Individuals, for the management of their Assets after death.

I did look into it four years back. I might be wrong these days.

A Living Trust would be a great idea, if Thailand was to have one.

pipoz4444

[deankham]

thanks pipoz, my experience with CBQ in Qatar is great and no issues getting money out of the country. They offer a 5 minute service to transfer to my UK bank account.

But anyway back to 'kicking the bucket' in Thailand....the easiest solution would be to hold everything as cash in your wife's bank account and then all you have to worry about is dying a but too quickly / unexpectantly (joining the Pattaya flying club against your will )

[pipoz4444]

thanks pipoz, my experience with CBQ in Qatar is great and no issues getting money out of the country. They offer a 5 minute service to transfer to my UK bank account.

But anyway back to 'kicking the bucket' in Thailand....the easiest solution would be to hold everything as cash in your wife's bank account and then all you have to worry about is dying a but too quickly / unexpectantly (joining the Pattaya flying club against your will )

You can also park a certain amount of the Cash asset in an FCD Account in a Thai Bank, in USD, EUR or GBP etc, and then some into a Condo or two, all in your name. Then do the Thai Will thing, where to leave it all to whoever you wish to nominate as beneficiaries. But you will need several Executors for that Will, who you can trust. One can be her.

The cost of the Thai Will in both English and Thai languages varies from TB 6,000 to 12,000.

My view was that it was better / easier for the Thai beneficiaries, to keep the assets closer to home, in Thailand, than leave it parked oversees. Much less hassles for the beneficiaries, when you are gone, as you don't want to leave them a difficult issue to sort out and end up with them having to pay a lawyer oversees. There is always a chance that if parked overseas/back home, it might get contested back overseas by a disgruntled relative or Ex.

My friend has just recently been through it (having the Thai Will system) with his TG (not even married) and it wasn't difficult for us to make sure that his TG got all of his assets in Thailand. I think the Thai Will system works as well as any other, from what I have seen.

pipoz4444

[Bandung_Dero]

All I know as fact is you expire without a Thai will and only married to your partner via a "common law marriage" her chances of getting hold of your bank account is nil.
Anyone from around Ban Dung will remember the 5 Bell Bar. When Dean passed away not even his father (next of kin) could convince KBank, in person, to give his girl friend his acct balance.
Funds lost!

[lassebasse]

OK fellas

I think I have all the bases covered but one never knows


When I will Kick The Bucket I have left a Thai Will(presently at the Lawyers Office and she has a copy also) to identify the Girl Friend as the recipient to my bank account

Any tales from others if this is the correct way to proceed?

I have a Will and it is registred with the Amphoe

[Brian Davis]

I have a Will and it is registred with the Amphoe

Excuse me, but is there a requirement to register a will at the Amphur? Perhaps you've done that because land or property(building) is involved, or for extra 'peace of mind' that your partner won't be given a runaround?