Jump to content
BANGKOK
Sea Traveller

Money in a Thai Bank in case of death

Recommended Posts

Let’s say as for example I have 1 million baht on an account at Bangkok bank in my name only of which 800.000 baht would be for Thai Visa or Extension purposes.  I have a relationship partner that is a Thai and a Swedish citizen and no children’s together. But I have two adult children’s that are only Swedish citizens from a previous marriage.

 

Case 1: From this let’s say I die and I want that the money should go to my relationship partner. What do I need to already do now so my relationship partner could just go to Bangkok bank office and collect the money? A last will testament in Thailand only or something I need also to do at Bangkok bank or more?

 

Case 2: Both me and my relationship partner would die in a car accident. In this situation I want of course it should be easy for my children’s as in Sweden to get the money as on Bangkok bank. What kind of documents and things do I need to do as for make it easy for they to get the money? And must one or both my adult children’s thus travel to Thailand to visit a Bangkok bank office as to get the money?

  • Like 1

Share this post


Link to post
Share on other sites
10 minutes ago, ubonjoe said:

 

You need a last will and testament for both cases.

Thanks! I have already made such in Sweden and I plan to do accordingly in Thailand when I might change to use Non Immigrant "O" Visa and thus place a lot more money at my Bangkok bank accounts than I have currently. As to get money out from the accounts on for example Bangkok Bank...Must persons as get the money thus be in Thailand and visit a Bangkok office? 

 

Share this post


Link to post
Share on other sites

I would expect so. Based on a will a court order must be obtained for the bank to release the funds. Hence a lawyer needs to be engaged and court case required... Whether you can assign someone in Thailand Power of Attorney to handle this you need to seek knowledgeable advice on. 

Share this post


Link to post
Share on other sites
1 hour ago, jacko45k said:

Based on a will a court order must be obtained for the bank to release the funds.

I have read before that is not needed here in most cases if a will was done here. All that was needed was the will and a death certificate.

  • Like 1

Share this post


Link to post
Share on other sites
3 hours ago, ubonjoe said:

I have read before that is not needed here in most cases if a will was done here. All that was needed was the will and a death certificate.

I heard it was specifically required... although maybe it was a lawyer answering a question!

There is this old post too:

https://forum.thaivisa.com/topic/987793-closing-a-bank-account-of-a-deceased-person/?do=findComment&comment=11985557

Share this post


Link to post
Share on other sites
20 hours ago, ubonjoe said:

You need a last will and testament for both cases.

The only thing I would add that for the second case the will and testament will have to be also in respect of and signed by the partner

Share this post


Link to post
Share on other sites
21 minutes ago, abrahamzvi said:

The only thing I would add that for the second case the will and testament will have to be also in respect of and signed by the partner

Yes that is important and I believe we will testament as what is in Thailand thus to my partners now adult Thai only children. As a matter of fact my own childrens in Sweden will get more than enough after me as from Sweden in case I would pass away. I am soon 59 so not very old but I did already some years ago make my will testament in Sweden which is stored in an official archive.

Share this post


Link to post
Share on other sites

A friend tried to do this, acting as executor for a neighbor who died.  He left a Thai will stipulating that his partner was to receive all assets including bank balances remaining.  The bank put up every roadblock imaginable, demanding documents from the deceased that they never informed him about when he sought information for his will. They blatantly stonewalled him at every turn till he finally had to give-up and the beneficiary had to hire his own lawyer.  Whether or not he successfully pried any money out of the bank my friend does not know.

It very much seems that local banking institution have very murky protocols when it comes to handling a deceased depositors assets.    

  • Confused 1

Share this post


Link to post
Share on other sites
4 minutes ago, saengd said:

I wrote to my bank, UOB, to ask exactly this question and they replied by saying that they, like every other bank in Thailand, required the approval of the Probate Court before distributing funds from a deceased clients account. It only makes sense that they would.

What about a joint account, is 50% frozen until probate?

Share this post


Link to post
Share on other sites
13 minutes ago, dddave said:

A friend tried to do this, acting as executor for a neighbor who died.  He left a Thai will stipulating that his partner was to receive all assets including bank balances remaining.  The bank put up every roadblock imaginable, demanding documents from the deceased that they never informed him about when he sought information for his will. They blatantly stonewalled him at every turn till he finally had to give-up and the beneficiary had to hire his own lawyer.  Whether or not he successfully pried any money out of the bank my friend does not know.

It very much seems that local banking institution have very murky protocols when it comes to handling a deceased depositors assets.    

Thanks and this is the reason why I decided to bring this matter for discussion on this forum. 

So far my solution as to to give my thai women partner access to the money as on my accounts on Bangkok Bank is to hand her my Bualuang Bank Card which she has also has the code for. So in case something would for example happen to me while on my work at sea or on travel..She will have acess to take out the money. But if I lets say had had so much than 1 Million Baht I am not sure it would be possible to get out all money as there are some limits  and would be looking suspiciuos to do many max witdraws of 25.000 baht each as is the limit for each withdraw.
 

 

  • Like 1

Share this post


Link to post
Share on other sites
25 minutes ago, Sea Traveller said:

Yes that is important and I believe we will testament as what is in Thailand thus to my partners now adult Thai only children. As a matter of fact my own childrens in Sweden will get more than enough after me as from Sweden in case I would pass away. I am soon 59 so not very old but I did already some years ago make my will testament in Sweden which is stored in an official archive.

The advice of that poster is very wrong, your partner, deceased or alive, cannot sign on your will to influence distribution of the assets if you both die at the same time.

 

You as the will holder must specify the circumstances and conditions in your will, nobody else can influence or change those things. Typically, in order to satisfy the condition number 2 you mention you would specify that all your assets would go to your partner. But if your partner does not survive you by more than X number of days, typically this will be 30 days but it can be whatever you want, then your assets become part of your overseas estate and fall under your home country will, or, become the property of person Y who is named.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...