armchairlawyer wrote: ↑Fri Nov 20, 2020 2:42 pm The simplest way is to set up joint accounts but you need to trust your wife/gf. It violates the important principle of ensuring you are worth more alive than dead!

If you have online banking, you can leave the log in info with your intended beneficiary, and if you prefer you can encode the details - leaving the code with a friend. Of course this could come unstuck if the bank knows of your demise and freezes the account.

If you make a Will, it must be notarised (and this is expensive). Also the exact banks and account numbers must be specified. Which means if these change, you must refresh your Will. Banks tend to be picky about paying out on Wills so the joint account method is the best.

armchairlawyer wrote: ↑Sat Nov 21, 2020 10:13 am

atst wrote: ↑Sat Nov 21, 2020 8:57 am

armchairlawyer wrote: ↑Sat Nov 21, 2020 8:10 am

samrong01 wrote: ↑Sat Nov 21, 2020 6:39 am Acleda Bank advised me that it is possible to name a person who gets the money in the event of your death. This person only needs to show the death certificate. I checked with other banks and also Prasac but they do not have this option.

That would be excellent.

Canadia told me five years ago that they would make such an arrangement but it would cost $500. Still much cheaper than a notarised Will, however.

But not much cheaper if you have money in more than one bank plus other assets. $1000 gets you a notarised will

Possibly, but bear in mind what I said in an earlier post about the precise account numbers.
Have you had one done for $1000? Just curious.
I think Wills work well with other assets, but bank accounts not so much.

armchairlawyer wrote: ↑Fri Nov 20, 2020 2:42 pm The simplest way is to set up joint accounts but you need to trust your wife/gf. It violates the important principle of ensuring you are worth more alive than dead!

If you have online banking, you can leave the log in info with your intended beneficiary, and if you prefer you can encode the details - leaving the code with a friend. Of course this could come unstuck if the bank knows of your demise and freezes the account.

If you make a Will, it must be notarised (and this is expensive). Also the exact banks and account numbers must be specified. Which means if these change, you must refresh your Will. Banks tend to be picky about paying out on Wills so the joint account method is the best.

....I don't care about my ABA account, he will have the PIN number and can just drain the cash out. But the Prasac one will be a problem.

atst wrote: ↑Sat Nov 21, 2020 10:51 am Just to add I cannot understand why any bank would not follow the instructions on a notorized Will,

Doc67 wrote: ↑Sat Nov 21, 2020 10:38 am

armchairlawyer wrote: ↑Fri Nov 20, 2020 2:42 pm The simplest way is to set up joint accounts but you need to trust your wife/gf. It violates the important principle of ensuring you are worth more alive than dead!

If you have online banking, you can leave the log in info with your intended beneficiary, and if you prefer you can encode the details - leaving the code with a friend. Of course this could come unstuck if the bank knows of your demise and freezes the account.

If you make a Will, it must be notarised (and this is expensive). Also the exact banks and account numbers must be specified. Which means if these change, you must refresh your Will. Banks tend to be picky about paying out on Wills so the joint account method is the best.

If you had a proper notorised will with a sole bequest of the contents of your accounts in Prasac to one person, son - British and clearly identified in said will, are you saying that Prasac could find fault with that?

I don't care about my ABA account, he will have the PIN number and can just drain the cash out. But the Prasac one will be a problem.

This issue has been at the back of my mind for quite a while and it's time it got resolved.

atst wrote: ↑Sat Nov 21, 2020 11:04 am Can you make a joint account with the other person not Cambodian and not in Cambodia, I would think not.
They would need some sort of ID

armchairlawyer wrote: ↑Sat Nov 21, 2020 11:27 am

Doc67 wrote: ↑Sat Nov 21, 2020 10:38 am

armchairlawyer wrote: ↑Fri Nov 20, 2020 2:42 pm The simplest way is to set up joint accounts but you need to trust your wife/gf. It violates the important principle of ensuring you are worth more alive than dead!

If you have online banking, you can leave the log in info with your intended beneficiary, and if you prefer you can encode the details - leaving the code with a friend. Of course this could come unstuck if the bank knows of your demise and freezes the account.

If you make a Will, it must be notarised (and this is expensive). Also the exact banks and account numbers must be specified. Which means if these change, you must refresh your Will. Banks tend to be picky about paying out on Wills so the joint account method is the best.

If you had a proper notorised will with a sole bequest of the contents of your accounts in Prasac to one person, son - British and clearly identified in said will, are you saying that Prasac could find fault with that?

I don't care about my ABA account, he will have the PIN number and can just drain the cash out. But the Prasac one will be a problem.

This issue has been at the back of my mind for quite a while and it's time it got resolved.

Re Prasac - no specific comment on them but see my reply to atst in general terms.
Re ABA - Drain the cash out in Cambodia or elsewhere? Besides Richard's point about the account possibly getting frozen, it could become a criminal case because he's using a deceased person's card.