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Keith5588

Making a Will / My financial assets / What to do?

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44 minutes ago, Beggar said:

You say if you have assets in many countries then you should make a will for every country or how? 

Do whatever makes you happy. 🙃

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2 hours ago, bangkokequity said:

You do not need to pay a Thai Lawyer 40,000 Baht to fill out a 4 page form, especially when the only asset is bank accounts.

 

I just did this for my girlfriend, and if I died right now, she has full legal authority to go to the bank and get my money.

 

Is this authority valid until your death or even after your death? There are two forms. And an authority alone doesn't mean that she is the legal owner of the money after your death. 

 

Edited by Beggar

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Thank you all very much for your honest helpful advice. It is a great help to me already.

 

I did give my girlfriend the PIN number to my bank ATM Savings account about 1 year ago, for her to be able to withdraw from the ATM if for some reason I cannot. I always keep that card with me. My account is with Bangkok bank, there is a maximum withdrawal limit of 25,000 THB. I thought this was a daily ATM maximum but have just had a quick look on the internet and believe I can increase the daily limit. So I presume you can stand and withdraw several lot’s of 25,000 THB. Basically I don’t know for sure and have made a note to find out.  I will post when I know.

 

I now think I trust my girlfriend enough to give her POA for my Fixed Deposit account that I use for immigration. I will try to keep the cost of this to a minimum.

 

That will be the Thailand side of things done.

 

I will have to return to the UK at some point although it may be a year or two from now.  My assets in the UK are more important and so at that time I will pay a professional to do my Last Will.

 

Thank you all again

Keith

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2 hours ago, Keith5588 said:

I will have to return to the UK at some point although it may be a year or two from now.  My assets in the UK are more important and so at that time I will pay a professional to do my Last Will.

As I stated before, you can do this from here, your UK will has to be registered in the UK, this makes the process a lot quicker, though if she has money to see her through it's not a huge deal, just a little less painless.

If you want the address of the people I used drop me a PM and I will send you their email, they were very efficient, I was given their details to contact much the same as I am offering them to you.

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14 hours ago, Keith5588 said:

Thank you all very much for your honest helpful advice. It is a great help to me already.

 

I did give my girlfriend the PIN number to my bank ATM Savings account about 1 year ago, for her to be able to withdraw from the ATM if for some reason I cannot. I always keep that card with me. My account is with Bangkok bank, there is a maximum withdrawal limit of 25,000 THB. I thought this was a daily ATM maximum but have just had a quick look on the internet and believe I can increase the daily limit. So I presume you can stand and withdraw several lot’s of 25,000 THB. Basically I don’t know for sure and have made a note to find out.  I will post when I know.

 

I now think I trust my girlfriend enough to give her POA for my Fixed Deposit account that I use for immigration. I will try to keep the cost of this to a minimum.

 

That will be the Thailand side of things done.

 

I will have to return to the UK at some point although it may be a year or two from now.  My assets in the UK are more important and so at that time I will pay a professional to do my Last Will.

 

Thank you all again

Keith

Seems a bit unusual that you have "no family" left.

66 and never had biological children. No nephews, nieces?  First cousins, etc..?

There is a saying if your cannot trust family who can you trust. 

Kudos for trusting your relationship with the Thai GF - good for you and good luck.

Am always amazed reading about those who have more money than they can spend before their last breath.  Of course leaving some money to one(s) you love is important

 

 

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I'm much older than the OP.

And my TGF (soon to be wife) is much younger than me. 

I'm a long time resident on retirement extensions in Thailand.

I have no family and thus made my TGF sole inheritor of my $$ four years ago already.

No possessions other than three bank accounts - Belgium, Thailand, Singapore.

I wrote a Belgian holograph will for my Belgian bank account.

To be sent to a designated Notary in Belgium at my death who will process it and send her the Euro on my bank account minus fees.

I made a Thai will with a Thai lawyer (THB 10000) for my Thai bank account.

She has a Thai Law degree so she'll know what to do.

I went to Singapore and made a will there with a SIN lawyer (USD 550) for my SIN bank account.

She'll have to go to SIN and get a lawyer (best to take the one who wrote my will) to help her process the will to get to my bank account.

 

I also made a declaration in Thai-French-English notarized at the Belgian Embassy in BKK (THB 800) to the effect that I have no relatives or anybody else to be notified of my death in Belgium or anywhere and that my TGF is thus free to deal with all formalities and inheritance. 

 

We're getting married now for several reasons.

A main one for her is that the three wills should be easier to deal with if she is my widow rather than a lambda Thai girl.

 

 

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On 8/28/2019 at 9:34 PM, CGW said:

your UK will has to be registered in the UK,

Sorry can you qualify this - as in registered how and with whom?

 

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43 minutes ago, topt said:

Sorry can you qualify this - as in registered how and with whom?

Reading this again my statement is not correct, it doesn't have to be "legalised" - but if it is "legalised it should prevent any questions being asked at a latter date as to whether the will is genuine, you can look up "legalising uk will", also "overseas legalisation" of a will.

It may be overkill but just tried to get everything "correct" so there is the minimum of hassle for my wife.

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22 minutes ago, CGW said:

Reading this again my statement is not correct, it doesn't have to be "legalised" - but if it is "legalised it should prevent any questions being asked at a latter date as to whether the will is genuine, you can look up "legalising uk will", also "overseas legalisation" of a will.

It may be overkill but just tried to get everything "correct" so there is the minimum of hassle for my wife.

I just wanted it to be clear to others that there is no UK requirement that a will be "registered" anywhere. As long as it is witnessed and signed properly and the provisions are not ambiguous it should (there are always caveats) be a valid document.

 

For example my brother holds my will and is my named executor and no solicitors have been involved.

 

Completely agree with your last sentence.

 

Edited by topt
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On 8/28/2019 at 7:17 PM, Keith5588 said:

so at that time I will pay a professional to do my Last Will.

Not saying you shouldn't but as with all things you need to choose carefully. Just read this article here -

https://www.dailymail.co.uk/money/pensions/article-7400159/Trapped-purgatory-Six-years-mother-died-waiting-legacy.html

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8 hours ago, topt said:

Not saying you shouldn't but as with all things you need to choose carefully. Just read this article here -

https://www.dailymail.co.uk/money/pensions/article-7400159/Trapped-purgatory-Six-years-mother-died-waiting-legacy.html

I have just read the article, it is interesting. Thank you.

Many years ago my company wanted to and eventually did change pension provider. I suspected it was for them to gain financially at the expense of the employees and after I obtained a lot of proof I needed some help. I found out the correct government department (Financial or Pension Ombusman, I have now forgotten). They would not take any action to investigate and even misled me to begin with about the initial correct course of action I should take to file a complaint. A very long story and a long time ago but I learnt a lesson that government bodies do not help the ordinary person as much as I thought they would.

Sorry for going off topic.

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