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How do i ensure that wifey gets access to my UK/Thai bank accounts when the grim reaper calls ?


Pumpuynarak
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Send her the details, PINs, passwords etc, in a scheduled email, i.e. an email that will be sent at a date in the future. While you're alive, keep updating the send date. When you cark it the email will be sent.

 

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4 hours ago, Pumpuynarak said:

So how can i achieve ? I should add with the least amount of hassle, wills etc which can take from here to eternity to sort out, probate etc.

got it.

Edited by lazarus
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1 hour ago, Pumpuynarak said:

So how can i achieve ? I should add with the least amount of hassle, wills etc which can take from here to eternity to sort out, probate etc.

Did my "holiday" post prompt this train of thought? Hope so.

I have already mentioned my plan of setting up a joint account in UK with my sons so that they get immediate "survivor rights" to the account. At the moment it is just an idea which I will discuss with the bank face to face.

Here I will sign the Condo deeds over to my daughter very soon so that legally I have usufruct but after my death it is hers, but if she were to sell, then proceeds are split between her and my sons.

Regarding my bank accounts here. My daughter knows where my cards are and she knows the PINs.

EDI = Change "her" to "my daughter"

Edited by Derek Dangleberries
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56 minutes ago, fygjam said:

Send her the details, PINs, passwords etc, in a scheduled email, i.e. an email that will be sent at a date in the future. While you're alive, keep updating the send date. When you cark it the email will be sent.

 

Thanks fyg a good way forward, i got no problem with wifey knowing ALL my passwords/PINS, in fact she knows most of them already and holds my cards as she's the one who primarily looks after our Thai finances but in the event of my death surely any access ie withdrawals she makes after my demise is illegal.

Now i've thought of just making the Thai accounts "joint" but who knows what the future will bring and i try not to be as stupid as i was when first hooking up with her and buying the house/car in her name.

The real problem is my UK bank account which holds most of my dosh, i only ever bring to Thailand on a monthly basis what we need to spend, i really don't trust Thailand where farangs are concerned, hence i do the monthly income for my retirement extension as opposed to the 800k in a Thai bank account.

 

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14 minutes ago, Derek Dangleberries said:

Did my "holiday" post prompt this train of thought? Hope so.

I have already mentioned my plan of setting up a joint account in UK with my sons so that they get immediate "survivor rights" to the account. At the moment it is just an idea which I will discuss with the bank face to face.

Here I will sign the Condo deeds over to her very soon so that legally I have usufruct but after my death it is hers, but if she were to sell then proceeds are split between her and my sons.

Regarding my bank accounts here. My daughter knows where my cards are and she knows the PINs.

Yes it did lol

Now you mention setting up joint accounts in the UK with your sons and that sounds like a good way forward, i too have two sons in the UK so that could easily be set up, trouble i have is getting back to the UK, i really don't want to do it but if i have to i will, i was looking for a way without as i can't see me getting back until 2023 and i ain't getting any younger lol 

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17 minutes ago, Pumpuynarak said:

Thai finances but in the event of my death surely any access ie withdrawals she makes after my demise is illegal.

Yup! That's the nigger in the woodpile!

My thinking is that in "Thai " thinking, it IS illegal ... but only a little bit illegal, if the person withdrawing the money is your legal NOK.

 

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5 minutes ago, Pumpuynarak said:

i was looking for a way without as i can't see me getting back until 2023 and i ain't getting any younger lol 

We are on the same wavelength here. It was my intention to fly back last year, then this year, but now who the f**k knows when.

If next year becomes a no-no then I will see how far I can get online!

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2 minutes ago, Pumpuynarak said:

I've tried and i have to go in person to my UK bank and then i'll have to disclose that i'm not UK resident.

WOW!

I remember that opening new accounts with new banks wanted information that I was either unwilling or unable to give.

Although I am damn sure that I was able to open a 5 year savings account with no hassle.

Let's see, eh mate! 

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3 minutes ago, Derek Dangleberries said:

WOW!

I remember that opening new accounts with new banks wanted information that I was either unwilling or unable to give.

Although I am damn sure that I was able to open a 5 year savings account with no hassle. Why am i not surprised lol

Let's see, eh mate! 

Good luck 👍

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16 minutes ago, Pumpuynarak said:

then i'll have to disclose that i'm not UK resident.

Yup, but I have stopped working a long time ago. The only pension that will not receive annual increases is my State Pension.

As for access to NHS, just keep 6 months NI contributions in savings and pay it in if need be ...

Many years ago (15 maybe) I set up a government Gateway account which helps me view any updates.

 https://www.gov.uk/personal-tax-account/sign-in/prove-identity#

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2 minutes ago, Derek Dangleberries said:

Yup, but I have stopped working a long time ago. The only pension that will not receive annual increases is my State Pension.

As for access to NHS, just keep 6 months NI contributions in savings and pay it in if need be ...

Many years ago (15 maybe) I set up a government Gateway account which helps me view any updates.

 https://www.gov.uk/personal-tax-account/sign-in/prove-identity#

The DWP know my Thai address as i disclosed it to them when i claimed the pension 6 years ago so i also get no state pension increases but my UK bank does not know and i imagine if i disclose it to them they may very well close the account as per their regulations, hence my reticence.

Access to the NHS - If i ever need to avail myself of their services which i've payed into all my working life at the highest rate and am still paying income tax at 10K per year on my state/private pension i will simply claim i am returning to the UK permanently to take up residency.

I also have access to the Government Gateway for income tax purposes.  

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3 minutes ago, Pumpuynarak said:

The DWP know my Thai address as i disclosed it to them when i claimed the pension 6 years ago so i also get no state pension increases but my UK bank does not know and i imagine if i disclose it to them they may very well close the account as per their regulations, hence my reticence.

Access to the NHS - If i ever need to avail myself of their services which i've payed into all my working life at the highest rate and am still paying income tax at 10K per year on my state/private pension i will simply claim i am returning to the UK permanently to take up residency.

I also have access to the Government Gateway for income tax purposes.  

Sorry mate, I didn't want to teach my grandmother to suck eggs.

I've just realised that when I had problems moving banks I ended up keeping the same branch but changing address to 200 miles away.

I see that I will have to tread carefully!

Thanks!

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For the Thai account, just add your wife as a signatory on the account. Did that for my lady, and we're not married. Wanted her to have access to the funds in case I was incapacitated. When I've left this mortal coil, she can grab the remaining funds if she wants and deal with the legal consequences, if any.

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1 minute ago, forcebwithu said:

For the Thai account, just add your wife as a signatory on the account. Did that for my lady, and we're not married. Wanted her to have access to the funds in case I was incapacitated. When I've left this mortal coil, she can grab the remaining funds if she wants and deal with the legal consequences, if any.

Yes FBWY i've heard of that, are you aware if all Thai banks will do ? I have accounts with Bangkok Bank and SCB.

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Just now, Pumpuynarak said:

Yes FBWY i've heard of that, are you aware if all Thai banks will do ? I have accounts with Bangkok Bank and SCB.

I did for my Bangkok Bank and Kasikorn accounts. Haven't gotten around to doing it for SCB yet as I only transfer enough to that account to pay my rent and for Lazada purchases.

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1 minute ago, forqalso said:

Last month I opened a. We account in the US, and they asked me to name a beneficiary.  Surely, something like that is available for you.

I've never been aware or been asked that by any bank anywhere in the world that i've opened accounts in, it would certainly be the answer to my problem.

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18 hours ago, Pumpuynarak said:

Now you mention setting up joint accounts in the UK with your sons and that sounds like a good way forward, i too have two sons in the UK so that could easily be set up, trouble i have is getting back to the UK, i really don't want to do it but if i have to i will, i was looking for a way without as i can't see me getting back until 2023 and i ain't getting any younger lol 

So, I did a bit of online investigating with TSB.

The Good (I can use my existing account - hopefully with not too many questions)

You can either convert your existing Bank Account into a Joint Account by adding someone else to it, or open a new account in two people's names.

The Bad (As expected!)

You can open a joint account or add someone to your existing account at your nearest branch. You'll both need to go into a branch so that you can provide identification in person.

The Ugly ( How long before I can take a "no hassle" flight)?????

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30 minutes ago, Derek Dangleberries said:

So, I did a bit of online investigating with TSB.

The Good (I can use my existing account - hopefully with not too many questions)

You can either convert your existing Bank Account into a Joint Account by adding someone else to it, or open a new account in two people's names.

The Bad (As expected!)

You can open a joint account or add someone to your existing account at your nearest branch. You'll both need to go into a branch so that you can provide identification in person.

The Ugly ( How long before I can take a "no hassle" flight)?????

That is exactly my experience with HSBC and you can guarantee the subject of our home address will come up in the process when they are aware wifey is Thai and i don't feel comfortable lying in person.

Now i know some banks are now relaxing the "UK Residence" requirement but i can't find out if HSBC is one of them and if i ask the question they no doubt will be thinking what is my reason !!!

Yes indeed when will you/i be able to get a no hassle flight.  

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18 hours ago, Pumpuynarak said:

I also have access to the Government Gateway for income tax purposes.

I got my Government Gateway account years ago whilst working in Africa. I had been to UK on holiday and rented a car. I later received an email saying that I had been caught speeding (Damn the A338 Wessex Way!

One payment option was to set up a Gateway account...The best thing I did in a long time (Thank you A338!)

I fully recommend it to anybody! But preferably without the speeding ticket , obviously!

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