Transfer of monies from overseas to Thailand
- Thread starter Yorky
- Start date
CO-CO
Rather wrinkly & occasionally cantankerous member
Yorky
Fullritis Member
A bit like my sarcasm?
Prakhonchai Nick
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Better yet.. exchange rate on Soi 6..
May get a good rate, but much of the transfer may have been spent before leaving the soi.
robjak
Surin Dinosaur
Right on cue Colin. Sent yesterday and just gone into Bangkok bank at 14-04.
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Ivor the Engine
Nowhere man
nomad97
Resident Geek
Good question. If she uses your account why not? Surely TW will be none the wiser as to whether you are dead or alive. Better still, open an account in her name too.
E
Eanto
Guest
Surely that’s brings into play a certain element of trust?
nomad97
Resident Geek
Elaborate. What trust are you referring to?
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Eanto
Guest
The monetary kind
nomad97
Resident Geek
In this Internet age we are rapidly becoming a paperless society as everything is done online. However, to open Windows 10 you now need a password and/or PIN to log on. All your bank accounts are possibility managed online with little in the way of hard copy information. So, if you do not keep a hard copy record of your passwords and account details, what happens when you pass away? I maintain a hard and electronic copy so that this information is available after I die. This should allow my wife to decipher and understand my business affairs when I am no longer here. The information will be available for her to use by herself or with the help of the services provided by people like Thai Expats and Widows. If you do not trust your wife, or do not wish to share this information with her while you are alive, you can always keep this information in a sealed envelope only to be opened upon your death. Having recently been involved with the wife of someone who has died, albeit on the periphery, the availability of such information would have made life a lot easier for everyone involved in sorting out the departed's business affairs.
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Eanto
Guest
I agree, I couldn’t sleep well before I made out my will last year. Best £100 I ever spent
nomad97
Resident Geek
I am not talking about a will, though that is very important too.
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Eanto
Guest
I thought once probate is granted then the solicitor in conjunction with the executors have access to all assets
Prakhonchai Nick
You chose a custom title
The solicitor also has access to a large chunk of the assets for his/her minimal work. By keeping complete records of passwords Pins, log-ins etc one can often avoid the need for Solicitors and probate
Where trust is an issue, we at Thai Widows & Expats recommend allowing the wife/partner access to the ATM card. member name etc, but give the PIN,.password etc to a trusted friend. Neither can access your account alone whilst you are alive, but after death can access it together with the pooled information
One problem found recently was that the wife/widow had not only forgotten the main password, but also could not remember the access code to the safe!!!!!!!!!!!!!! This has meant using costly lawyers/solicitors both here in Thailand and in the UK. Could so easily have been avoided.
nomad97
Resident Geek
Eanto said, "Surely that’s brings into play a certain element of trust?"
Trust! Let me explain. It really is quite simple. I trust my wife implicitly. She has all the capital assets, the family gold and all the money. I trust her to let me live with her in her house and to drive her car whenever it is free to do so. I also trust her to give me some money whenever I need some. In return, I pay all the bills, including the mortgage on the house and the finance on the car and put any spare cash in her bank account. Its an arrangement that has worked very well for the past 14 years and I see no reason why it should not continue this way forever. And that, in nutshell, is what trust is all about.
Trust! Let me explain. It really is quite simple. I trust my wife implicitly. She has all the capital assets, the family gold and all the money. I trust her to let me live with her in her house and to drive her car whenever it is free to do so. I also trust her to give me some money whenever I need some. In return, I pay all the bills, including the mortgage on the house and the finance on the car and put any spare cash in her bank account. Its an arrangement that has worked very well for the past 14 years and I see no reason why it should not continue this way forever. And that, in nutshell, is what trust is all about.