I want to transfer $30,000 USD to a Thai citizen’s baht account in Thailand. But I do NOT want the entire sum to be transferred all at once. Instead, I’m looking for a way to establish an income stream that will AUTOMATICALLY make transfers of $150 USD for two hundred months.
Here’s the reason: Because of cultural and family complications, my beneficiary in Thailand would do better with a “monthly income stream” as opposed to “a lump sum payment.” Once I initiate the transfer, I will not want to cancel or modify it. Also, I want transfers to continue monthly until all $30,000 USD is gone EVEN IF I DIE FIRST.
In essence, I want to buy an annuity for my Thai beneficiary, but I don’t believe annuities are available in Thailand.
Can anyone think of a way to make this happen? Is there a financial product or service that could do this? I know this service would be of interest to other people who want to provide an income stream to close friends or loved ones in Thailand.
I appreciate any help.