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Got a Thai Bank Account?


biggles

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If you do have (800k) be aware of what can happen if u are caught out of Thailand and unable to return

A good friend has been here 20 years and goes back to OZ once a year to see family and a medical check. Last visit Covid struck and he couldn't return. 6 months ago he had a mini stroke with 10% memory loss. Kbank won't let his son withdraw funds, even with a power of Attorney, notarized by the Thai embassy. He has no ATM card to withdraw from OZ. Even if he dies his son has to present the will and go to court to get approval. 

Mind boggling restrictions. How much money is tied up this way! 

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On 12/9/2022 at 11:08 AM, biggles said:

If you do have (800k) be aware of what can happen if u are caught out of Thailand and unable to return

A good friend has been here 20 years and goes back to OZ once a year to see family and a medical check. Last visit Covid struck and he couldn't return. 6 months ago he had a mini stroke with 10% memory loss. Kbank won't let his son withdraw funds, even with a power of Attorney, notarized by the Thai embassy. He has no ATM card to withdraw from OZ. Even if he dies his son has to present the will and go to court to get approval. 

Mind boggling restrictions. How much money is tied up this way! 

 

One more example of how f***d up things that can happen - bank related. Not only in LOS but everywhere. I keep pounding away at this. Folks need to be on top of such things constantly and review all aspects and considerations on a regular basis. 

Have diverse access to funds and prep. plans (plans A, B, C and D). 

**** A consideration for those considering the 800 k requirements. Use a reputable visa service (a legit law firm, not some "fly by night" visa service) and pay the fee for the service to do it (IMO it's worth paying the fee to lower your risk). That way your own money will not be stuck in some account that they have control over. As a precaution for if they ever change the rules pertaining to that option have the dosh set aside in a safer home account that can be used in the event they change the rules. Then if you do find yourself in a circumstance where you have to provide the 800 k yourself seek the advice of a lawyer so that you can go with something that provides the most protection possible when the time comes to recover those funds when necessary.

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A friend managed to close an account at Bangkok Bank while stuck in Europe due to ill health. 

He sent me copy of Bank document via  Line with cashiers name, I went in and asked to see her, explained and she added her email address to my friends Line conversation on my phone. 

He just informed me that he has been able to close the account and transfer the funds back home. Probably took about 2 months in total. 

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Getting off topic a little, this also pertains to resolving an estate upon death. I live in Thailand full time.

I made a decision to leave my Thai assets to my long time TGF. My US assets go to my sons. The US assets are the larger component of my overall holdings. Anyway, I have two wills in place. Each states explicitly that the will only covers the assets in a particular country.

I have spoken to my sons and gotten their agreement not to challenge the Thai side of things, as that will probably only succeed in pissing away what Thai assets I have on lawyer, travel, and court fees. They agree and said they feel lucky that some lady rather than themselves is looking out for my ornery old ass.  🙂

The resolution of my US will should be simple. All assets are financial holdings that can be directly released to my sons without need of probate. All's that they will require is a Death Certificate. I have explained to the TGF and my oldest son how to communicate with each other via Line, telephone, and email. Each year after tax season I post my current info to a shared Google area, so that my sons have available the current state of things.

The Thai resolution will be much more difficult. Probate is required and according to what I have been told is quite slow. I have advised the TGF that when the time comes, she should go back to the lawyer who drafted the will and have him handle the probate for her.

I have several additional concerns related to this topic.

  • How does one put a Thai DNR in place? I do not want dwindling financial resources used to keep me breathing in a veg state.
  • How is a body released to a TGF? I just want her to cremate me, not ship a corpse around the world. I would marry her to ease all of this, but that creates legal issues on the US side.
  • I hear that a Farang death for a person under the age of 80 requires an autopsy. Who pays for that?
  • The entire process seems quite murky.

 

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1 hour ago, ChiFlyer said:

[...]

I would marry her to ease all of this, but that creates legal issues on the US side.

How about a prenuptial agreement/contract to settle this? 

Just an idea, but talk it over with a Thai lawyer, it might solve a couple of issues.

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6 hours ago, ChiFlyer said:
  • How does one put a Thai DNR in place? I do not want dwindling financial resources used to keep me breathing in a veg state.

The DNR is covered in a Living Will. On mine I have two other western friends listed as well as my partner. I figured they would be less hesitant about pulling the plug than my lady. 

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On 12/11/2022 at 6:25 AM, forcebwithu said:

The DNR is covered in a Living Will. On mine I have two other western friends listed as well as my partner. I figured they would be less hesitant about pulling the plug than my lady. 

Was your Living Will done in Thailand or your home country, which I am pretty sure is the US.

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On 12/11/2022 at 12:03 AM, ChiFlyer said:

Getting off topic a little, this also pertains to resolving an estate upon death. I live in Thailand full time.

I made a decision to leave my Thai assets to my long time TGF. My US assets go to my sons. The US assets are the larger component of my overall holdings. Anyway, I have two wills in place. Each states explicitly that the will only covers the assets in a particular country.

I have spoken to my sons and gotten their agreement not to challenge the Thai side of things, as that will probably only succeed in pissing away what Thai assets I have on lawyer, travel, and court fees. They agree and said they feel lucky that some lady rather than themselves is looking out for my ornery old ass.  🙂

The resolution of my US will should be simple. All assets are financial holdings that can be directly released to my sons without need of probate. All's that they will require is a Death Certificate. I have explained to the TGF and my oldest son how to communicate with each other via Line, telephone, and email. Each year after tax season I post my current info to a shared Google area, so that my sons have available the current state of things.

The Thai resolution will be much more difficult. Probate is required and according to what I have been told is quite slow. I have advised the TGF that when the time comes, she should go back to the lawyer who drafted the will and have him handle the probate for her.

I have several additional concerns related to this topic.

  • How does one put a Thai DNR in place? I do not want dwindling financial resources used to keep me breathing in a veg state.
  • How is a body released to a TGF? I just want her to cremate me, not ship a corpse around the world. I would marry her to ease all of this, but that creates legal issues on the US side.
  • I hear that a Farang death for a person under the age of 80 requires an autopsy. Who pays for that?
  • The entire process seems quite murky.

 

 

Excellent post and it is good to see someone wise enough to look into these matters as you are now, as to when it's too late.

Very good point regarding the DNR. I will soon be working on will related matters (living will and basic will) I will address the DNR at the time.

I am not sure how they do it here. But I reckon a DNR can be attached to a living will. Also would research with the provincial dept. of health for info. on that. There may be a way you can register that information with an govt. agency, along with your lawyer, primary health care providers, etc.

They used to recommend even placing a copy of the DNR on your refridgerator. Supposedly that would provide documentation so that if paramedics arrived at your home and you are already dead (or at least brain dead) they will see the document and have better legal standing to not pound on your fucking chest.

Also anytime you are admitted to a hospital or long term care facility you should be asked about that (in writing as part of the admittance process). With many of these documents you may need to have them witnessed and notarized. You can also probably carry a copy of the DNA on your person.

Most importantly having your GF, sons, and maybe a close friend clear on your instructions so that everyone is on the same page and has the same document. You have won half the battle on that one, now the next step. Any good physician, health care provider, or a lawyer who knows his stuff should be able to provide info. to you about this.

As far as the release of the body.... find a good lawyer and go get all these questions, forms, etc. done in one visit.

As far as payment on the cremation etc.    You can purchase an insurance policy on that. That would be given to your GF along with copies of the will which should indicate her as the person responsible.

If you don't have an insurance policy then set aside what the estimated costs would be in a separate account. Or, the cost will get passed on to the estate. Basically your GF and/or sons would then have to pay for it. If someone dies and there are no assets to pay for it then I don't know. Back in the States, the county you died in would put you in a pine box a bury you in a paupers grave. The county would pay for it.

 

You may want to also consider giving her POA (power of attorney). You can do all of these things in the same meeting with the lawyer. There are different levels of POA.

Since the primary reason you are writing this is to minimize the headaches for her when you croak then what I reviewed here is highly advisable. Once you do it you will all feel better about things.

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On 12/11/2022 at 12:03 AM, ChiFlyer said:

Getting off topic a little, this also pertains to resolving an estate upon death. I live in Thailand full time.

I made a decision to leave my Thai assets to my long time TGF. My US assets go to my sons. The US assets are the larger component of my overall holdings. Anyway, I have two wills in place. Each states explicitly that the will only covers the assets in a particular country.

I have spoken to my sons and gotten their agreement not to challenge the Thai side of things, as that will probably only succeed in pissing away what Thai assets I have on lawyer, travel, and court fees. They agree and said they feel lucky that some lady rather than themselves is looking out for my ornery old ass.  🙂

The resolution of my US will should be simple. All assets are financial holdings that can be directly released to my sons without need of probate. All's that they will require is a Death Certificate. I have explained to the TGF and my oldest son how to communicate with each other via Line, telephone, and email. Each year after tax season I post my current info to a shared Google area, so that my sons have available the current state of things.

The Thai resolution will be much more difficult. Probate is required and according to what I have been told is quite slow. I have advised the TGF that when the time comes, she should go back to the lawyer who drafted the will and have him handle the probate for her.

I have several additional concerns related to this topic.

  • How does one put a Thai DNR in place? I do not want dwindling financial resources used to keep me breathing in a veg state.
  • How is a body released to a TGF? I just want her to cremate me, not ship a corpse around the world. I would marry her to ease all of this, but that creates legal issues on the US side.
  • I hear that a Farang death for a person under the age of 80 requires an autopsy. Who pays for that?
  • The entire process seems quite murky.

 

DNR, lifetiem will can be processed via the hosptial, so as example bangkok Pattaya.  you get a copy so that you can apply it anywhere.

all non thais require an autopsy, done in BKK, and embassies wont give release docs for funerals without them.  I dont think yu pay, but you pay for the transport to and from and storage in ice 

 

body cannot technically be released to a GF.  ONLY next of kin, but they can sign off on u being handed to GF

AS TO BANKS HERE.  they cannot deal with third parties .  if u r alive, it needs a court order fro them to do that, to avoid fraud,  if you are dead, the will has to go to probate, also effectively a court order. 

 

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9 hours ago, ChiFlyer said:

Was your Living Will done in Thailand or your home country, which I am pretty sure is the US.

Done here in Thailand at the same time I had my Thai Will drawn up.

Like you my Thai based assets go to my LT partner here. My US will specifies my US assets, which are now all monetary after the sale of my home in June, go to my two children.

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