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must go back home to collect inheritance?


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Mom & Dad (in USA) are scared the COVID is gonna take them out.

 

This prospect keeps them going on about the subject of inheritance.

 

If they wanna hook me up, I ain't gonna turn them down.  But, at the same time, I really don't want to have to leave Southeast Asia in this lifetime. 

 

So I wish to ask:   

 

Is it possible to collect inheritance from overseas?

 

And could I sell the house from overseas too?

 

(To my knowledge, I'm the sole beneficiary.)

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You guys have given me a lot of info here. Thank you. I will read over these posts a few times more in the coming days. 

 

I expect Mom & Dad to pull through. But seeing as how they keep fixing on the inheritance subject, I figure I owe it to them to try to learn a bit. 

 

And if this pandemic stuff ever ends, maybe they can come visit me. I'd like to see them! 

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If they have considerable assets and you wish to avoid probate, look into a living revocable trust. Basically, they move their assets into a trust and have control of the trust until death at which point you automatically become the trustee and control the assets. 

 

It would also be a good time to make certain a medical power of attorney is setup — also known as a health care proxy or health care agent — allowing someone of their choosing to make health care decisions if they're incapacitated. 

 

A financial power of attorney is also a good thing to consider. 

 

All of these documents can be organized by an attorney. I have all three and the total cost was under $1,000. Yes, a lot of money but probate can be much more expensive. 

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23 hours ago, RAZZELL said:

OP - all can me done remotely/online.

 

But I would've thought it would be nice to see them before they "pop their clogs"? 

 

They're a long time dead :whistling:

 

 

RAZZ

Being able to "see" parents before they die when overseas has only been possible for a relatively short time. Neither of my parents saw their parents before they died.

My parents emigrated on a ship, which took weeks to get to/ from where they ended up living. It was many decades after that that air travel became cheap enough to go for a "visit".

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A couple of things you may want to get straight now while it sounds like they are still ok - - power of attorney and a health care power of attorney are very important... 

 

my parents had long before illness named each other as healthcare POA... this was very problematic when they both developed dementia... the doctors were unable to talk with us kids as there are hippa privacy laws that they had to abide... 

 

If they have a lawyer and accountant, you will want to know who these people are... you will want a copy of the Will... 

 

And for visits, as you know, there is skype and zoom etc...

 

PM me if you want further info... 

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2 hours ago, DFPhuket said:

If they have considerable assets and you wish to avoid probate, look into a living revocable trust. Basically, they move their assets into a trust and have control of the trust until death at which point you automatically become the trustee and control the assets. 

 

I think an American living in TH needs to be careful about being designated in a family member's living trust. From the info I received on the subject, there are some legal issues about being able to designate as a trustee someone who's not living in the U.S.  I'm not 100% certain about that, but it came up in my family member's situation.

 

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One of the biggest issues I faced in my family member's situation was not being able to fly back to be there to personally handle the closing up of his rental home and deal with his possessions.  (Technically, I could have gone back, but wouldn't have been able to get back home here if I had gone. And since I have no home there, it effectively meant I couldn't go).

 

Fortunately, my elderly family member had a hired caretaker, so I was able to direct and work thru that person, whom I continued to pay, to help wind down my family member's home and possessions. But had there not been the caretaker, I'm not sure how I could have handled those kinds of things remotely (unlike the financial account stuff).

 

I was the only remaining family relative in the situation, so there was no other family member I could turn to in the U.S. to assist with the wind down.

 

 

 

 

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Hopefully your parents live a long time and enjoy life.

 

Concerning POA our Father passed away and fortunately our (5 children) youngest sister took care of everything (she lives in same city the rest other states/countries) sold house etc by POA. 

 

He resided in Florida which at that time required two witnessess. POA

had to be certified (may not be the correct word) by US Embassy. Had to

make two trips from NE to Bangkok. Second trip was because two witnesses were required.

 

Technically the attorney should have allowed for the Consulate Officer to be one of witnesses. Attorney wouldn’t allow it so had to fly myself and neighbor to Bangkok for second trip. 

 

The office certifying document and neighbor was counted as two witnesses. 

 

My father wrote his own assets besides personal items House and @ $200k in bank he no unpaid bills. The judge had to decide about assets

because it was clear my fathers intentions. He remarried after he and 

Our mother divorced. Pops was retired 30+ years our my mother will

be 90 next month she worked on factory floor until 75 .. she loved work. 

 

Judge awarded step mother the cash in bank and awarded house 

to his 5 children. Step mom could live in the house as long she wanted Responsible for yearly property tax. Five years later she moved to Texas to be near her family near brother bought a house for her. 

family. House was sold $70k divided amongst the children. 

 

Ps youngest sister ain’t that young 60 but sounds good to her.. 

 

Enjoy life as much as you can and be happy..  I love it here in Thailand (most days)...

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