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BANGKOK 25 March 2019 05:05


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About JimGant

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  1. Gosh, what an arrogant SOB; John, you've done well keeping your cool, and explaining what's what. For the OP, he wants the available information for what's currently available to him. N26 ain't one of them -- and when it is, it's no better than what's already out there. Wave of the future? BS. Why? N26 gives the daily MasterCard FX rate (don't know what the h... the Google rate is, as they don't run an FX operation -- but the pop up seems to replicate the mid/market rate, which will always be shy of the MasterCard rate, since that spread is how MC makes money). Anyway, the N26 card, like others mentioned in this thread as "fee free", is the best you're ever going to get -- i.e., you get the near mid/market rate -- and without fees. But, as has been discussed, there are already fee free cards out there that will accomplish the same savings at the counter as the N26 card. Yes, debit cards are seemingly less available in the fee free model than credit cards -- but they are available, with more coming onboard, same as N26. So, not sure where donnacha is coming from.... The OP wanted current availability, but donnacha argued to wait -- but wait for what -- a new capability that replicates and existing capability? What crap. Anyway, John, thanks for the cerebral explanation. I'm sure the OP is grateful for your wading thru the BS.
  2. Doesn't have to mirror your UK Will. Just in the preamble mention that the following Will is exclusively for your assets in Thailand. There are lengthy, and not very conclusive, threads on TV about Wills. A quick summary is this: 1. The lawyer mafia argues that all Wills need to go through probate, including Wills held by the Amphur (Amphur Wills). This is counterintuitive, since Amphur Wills were designed for the average villager, with average assets, and thus a bypass to a lengthy, and maybe costly, probate process. a. So, even if you accomplished an Amphur Will, whether your banker, or the land office, would accept such without probate, is an unknown. - And, many Amphurs will NOT even do Wills for farangs. 2. If, as the mafia says, your Will must suffer probate, this means several months of process, and we've heard that 50,000 baht is the possible standard fee. - So, if the beneficiary is depending on your bank funds, be prepared for a delay -- and a financial hit. 3. There's a mixed report on what bank managers might do. They may accept an Amphur Will for your individual account; and for joint accounts, they may allow assets to be reassigned to the survivor. a. The following defies logic for us Westerners -- but apparently there have been cases where joint accounts have been frozen, pending probate procedures to free up the surviving 50%. b. For an individual savings account, with 800k plus for retirement annual renewal at Immigration, you can put your GF or wife or partner as, essentially, a Power of Attorney, meaning he/she has access to your account. Officially, this is only while you're alive. But, when you're in a terminal coma, or before rigor mortis, have the account emptied out. You can do this online, or in person with the passbook (which includes your name as POA). I personally was told by our local bank manager that this would not be a problem and, in fact, is the norm for our small village. Legally? Who's to bitch, if your account had the POA as the sole beneficiary. The lawyers might bitch, about losing probate fees. But.......... (deleted). c. Unfortunately, as I understand it, you can't put a POA name on a fixed account. Thus, you may have to decide whether or not to exclude some interest income, in favor of not having this fixed account go through probate (at, maybe, 50000 baht). For the OP, I'd go ahead and draft a Will, in long hand, with the standard " I leave all my assets to my GF xxxxxx, including bank accounts xxxxx. Should she not survive me, I then leave xxxxx to xxxxxx. I designate my GF xxxxxxx as my executor, and as my 'next of kin.' a. Make this Will an all inclusive document, meaning, add a page that outlines your desires as far as body disposal. Authorize your next of kin (which you've designated as your GF) to carry out your desires, which should include in the document, e.g, cremation, with ash disposal at option of NOK. - The British Embassy, apparently, will need such authorization before they will allow your body to head for jolly ole England, or more likely, to the barbecue pit. b. Just to add to the intrigue of your Will, add some living will sentences, like, you don't want to be kept alive by heroic means, don't keep me alive if there's minimal hope for recovery, and make my GF the decision maker if I should no longer be capable of making decisions. You can write this all out in long hand, and it will be legitimate. But, probably best to then type it out, and then have two witnesses (not a beneficiary), with Thai ID numbers, to sign the typed document. If you're lucky, this is all you'll ever need: Certainly, as it's already in English, the Brit Embassy will accept it, and your last instructions, to release the body for cremation/whatever. How the bank accounts get settled is another matter. If the bank manager insists on probation, well, have a lawyer handy to translate your typed/witnessed Will into Thai -- then proceed on the probation procedure. Hopefully, you'll not need to go that far.
  3. Yeah, being overly conservative, I saved way more money than I'll ever need -- and that covers any contingency, including long term care. But, it's hard to break old habits, so I still find myself wasting time, looking for nitnoy discounts or promotions. What a waste. At least I now afford myself business class when I travel abroad. I love the bumper sticker on an RV I saw traveling across the States: "We're spending our children's inheritance." Or, the goal in life: The first check you ever bounce is the one to the undertaker.
  4. Shhhh! Give those pondering potential retirees more time to cancel their travel arrangements.
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