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Pumpuynarak

Are you prepared for death ?

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Apologies first and foremost for the morbidity of the subject matter but sooner or later we all will have our visit from the grim reaper and the older you get the closer that could be. Expats living here have many issues that need addressing before you pop your clogs, are you prepared ?

Wifey could not on her own deal with all these issues but my son is well equipped to do so and would be on the first flight over to assist. Have you prepared all the necessary documents filed under the respective headings such as....

* Thai marriage certificate and translation

* Thai death certificate and translation (wifey/son to do) many originals with translation may be needed according to the requirements of whoever

* Your pension providers names and addresses and any associated member identification numbers

* Your bank accounts info, Thai and UK in my case

*  Your will(s)

Just a few examples of the multitude of items you will need to prepare (failing to plan means planning to fail)

No doubt i have forgotten many that maybe required, let those interested contribute for the benefit of all, i personally have started the process of collating everything in a orderly fashion not just lumping all and sundry together but thats just me lol, i don't want wifey struggling, its my responsibility, she'll need access to dosh immediatly and her widows pension sorted asap.

Just sayin like lol

   

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1 hour ago, Pumpuynarak said:

Apologies first and foremost for the morbidity of the subject matter but sooner or later we all will have our visit from the grim reaper and the older you get the closer that could be. Expats living here have many issues that need addressing before you pop your clogs, are you prepared ?

Wifey could not on her own deal with all these issues but my son is well equipped to do so and would be on the first flight over to assist. Have you prepared all the necessary documents filed under the respective headings such as....

* Thai marriage certificate and translation

* Thai death certificate and translation (wifey/son to do) many originals with translation may be needed according to the requirements of whoever

* Your pension providers names and addresses and any associated member identification numbers

* Your bank accounts info, Thai and UK in my case

*  Your will(s)

Just a few examples of the multitude of items you will need to prepare (failing to plan means planning to fail)

No doubt i have forgotten many that maybe required, let those interested contribute for the benefit of all, i personally have started the process of collating everything in a orderly fashion not just lumping all and sundry together but thats just me lol, i don't want wifey struggling, its my responsibility, she'll need access to dosh immediatly and her widows pension sorted asap.

Just sayin like lol

   

I'll organise a piss up wake for you in Leckers or that Brit pub up Joh Hor way. .........hope that helps. :default_drinks:

What are friends for ...anyway you'll probably outlive me you lucky old bastard.....  Namps

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Everything is in my big safe in the bar. Problem is nobody but me knows the combination. 555 Should be fun.

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2 minutes ago, misteregg said:

Everything is in my big safe in the bar. Problem is nobody but me knows the combination. 555 Should be fun.

Yessssssssssssss, ya gotta take care of that one too, more to come from me on all the little things that may get overlooked in the grand scheme of things, think whats on yer com lmao

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Don't forget that as soon as HMRC learns that you've died they'll try and freeze all of your bank accounts around the world until the will is sorted out and they've had their blood money via IHT. Thailand is not part of the automatic death-reporting system that exists in the UK and EU, so it can take a while for them to find out. That gives wifey and son a useful opportunity to arrange your affairs so as to minimise any IHT exposure, unless you happen to die in a manner that makes the newspapers (Buddha forbid!).

One simple example - Thailand has a very generous tax-free gift allowance (5 million Baht, I think), whereas in the UK you can hardly give anything at all without them wanting their cut. So once you've shuffled off and wifey has access to your money she can give useful tax-free gifts to your son and anybody else you like (I''ll volunteer, if you're short of beneficiaries!). Of course, in the end HMRC will probably want the money back and tax paid on it, but I doubt very much that a Thai court would rule against a Thai family in favour of an evil foreign colonial power's taxmen, and the UK courts would have no jurisdiction.

There's a number of these little things you can do, taking advantage of Thailand's looser tax laws and the fact that it can take a while for the authorities in Blighty to learn of your demise. If you think it's worth it, you could talk to a (Thai) lawyer about it.

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One of the joys of being perminantly skint is that in the event of my demise HMRC can kiss my ass

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Got a half prepared list which includes bank account numbers, pension account details, share dealing account details and house deeds' location.  Also spare key holders with alarm code.  Like misteregg's info though, I need to let someone know how to access it.

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I've prepared a document that I've sent to my business partner.

I've listed every possible thing you can think of, including a list of contact names and numbers of who to contact if I peg it and even down to what music I want at my funeral.

Really important in my opinion, especially if you have a Thai wife, partner or significant other (thankfully I don't . . . . yet . . 😉).

Key thing is to give all this detail to someone you 100% trust. Giving bank account nos, logins to online banking and pin numbers, etc. if in the wrong hands would be a disaster.

 

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I send both my daughters an email listing everything important. Don't include all detail like bank account numbers, but I guess that would be easy to obtain. I list all institutions with number of accounts. Send updates when anything changes like travel insurance etc. They know I have a folder in my cupboard in my condo back home that has all my financial affairs. Hopefully some help when the day dawns. Hope I have a few years to go though. 🙄

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@Justtony at Magna carta did my will and he is a pain in the arse.    for good reason.  he insists on copies of all bank books, documents, deeds, companies etc and any valuable assets.  i was well pissed off but then he explained that he doesnt need them now, for the will, but will need them later when i pop my clogs.  then its a lot harder than now.. made sense.  i recommend Magna Carta as always, and he does it with "charm"..

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The birth of my daughter was the catalyst for me getting my 'affairs in order'. 

Will made, tax advice re my properties, gave my missus all the relevant details of my current Public Sector Pension, how much of a quite large sum she'd get if I died, then ongoing payments etc.

Other relevant details so I know if anything did happen to me, both her and my daughter would be well taken care of. Though I don't plan on checking out just yet. And Sa's such a wee softy she was teary when I was explaining everything to her lol. 

My father had a bad stroke in Spain a few years ago, he now needs 24 hour care, he doesn't have all his faculties. It was a nightmare with Courts etc for nursing home payments, alsorts of stuff. I've made sure Sa will never have to navigate that minefield, or the Government being able to 'steal' my money instead of her and Caitlin getting it. 

I would advise and encourage anyone else to do so. You never know what's around the corner.

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5 hours ago, KWA said:

 Like misteregg's info though, I need to let someone know how to access it.

I have a very good Nigerian lawyer friend i can recommend.

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Surely in the UK there is no IHT to pay if your spouse is the beneficiary?

One thing I discovered recently is that if your surviving parent dies they can leave their deceased spouses IHT allowance as well as theirs.Takes it to ove £600k.

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Well what is the best way me to explain....

 I’m currently undergone treatment I feel I this will be the last time i put my self and my family through something like this..

Its coming up to nearly a year of treatment very soon and i cant fight for this any more.

I’m ready to walk away at any time.. sell the house and to bring all my capital into one place to its much easier if anything happens to me.

It would leave Puang with money to sort her and little Thomas out for they lifes...

Yep I am ok with death right now

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9 hours ago, Lanzalad said:

Well what is the best way me to explain....

 I’m currently undergone treatment I feel I this will be the last time i put my self and my family through something like this..

Its coming up to nearly a year of treatment very soon and i cant fight for this any more.

I’m ready to walk away at any time.. sell the house and to bring all my capital into one place to its much easier if anything happens to me.

It would leave Puang with money to sort her and little Thomas out for they lifes...

Yep I am ok with death right now

Think of your Son, keep at it for him.

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Everyone should have completed the practical measures to be prepared for death irrespective of age , make a will to ensure your estate goes to the correct people .... will make it easier for those left behind if everything is in order and easy to access 

I have no siblings or children , but still have a will and have kept it updated 

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Some very good advice on here. Did my now will and had ir witnessed etc. Have it locked away in a safe. Combo known by people I trust. 

Scary but you do need to get your affairs in order especially if like me you have lots of children. 

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2 minutes ago, farangme said:

I've not started living yet:default_coffee:

I'm amazed i made it to 40 never mind 50.

I don't own any assets,only thing i own is my bike and that is worth less than £2k,and will probably be the death of me anyway the way i ride it.I'll just have any money left put behind the bar at LePub and you can all have a big piss up on me.😀

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4 minutes ago, galenkia said:

I'm amazed i made it to 40 never mind 50.

I don't own any assets,only thing i own is my bike and that is worth less than £2k,and will probably be the death of me anyway the way i ride it.I'll just have any money left put behind the bar at LePub and you can all have a big piss up on me.😀

If I had stayed there I'd probably be dead because of alcohol.  

I don't hammer it as much here. I sold my bike and bought a 4x4 Navara, getting back into off-road driving I quite enjoy that.

Anything I leave will become my Wifes. She deserves it, putting up with me for nearly 17 years.

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Only thing I have done is bequeath all my assets, home, and life insurance payout to my middle brother with a will. (I am the oldest) My youngest brother gets nothing as he is a millionaire+ and he is fine with that. My middle brother used to joke with me a few years back telling me I should fly with Malaysia Airlines. :default_biggrin:

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41 minutes ago, Steelers4Life said:

Only thing I have done is bequeath all my assets, home, and life insurance payout to my middle brother with a will. (I am the oldest) My youngest brother gets nothing as he is a millionaire+ and he is fine with that. My middle brother used to joke with me a few years back telling me I should fly with Malaysia Airlines. :default_biggrin:

Cheerful bastard that middle brother ...... what's his first name Sunny ???? :default_friends: My Thai Mrs always asking me "What I get if you dead?" ........

I'm always very cautious with my responses and muddy the waters a bit .... :default_cry: ...... Ha sip persen ..... tair mai mee tang......   

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just a couple of questions i have a thai will and leave all my assets to my long time partner[over 20 years]

the only thing thatneeds sorting is my bank account [currently only one and is in my wil with account number]

 

1 how long roughly does probate take here in thailand

2 how much do they carge ie is it a percentage [3 percent in selling property  eg] my will is over 10 years old and lodged with magna carta

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