Income Letter

Here is where we will consolidate all information about Thai visas and work permits (as they are closely related to the type and availability of your visa).
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LoneTraveler
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Re: Income Letter

Post by LoneTraveler » December 17, 2018, 7:38 am

I have given my Thai wife my PIN # and told her upon my death (the same day or the very next day) to transfer the money in my account to an account in her name via ATM. I think this can be done as a one time transfer. I was not aware of the power-of attorney form so I think this would be a good backup. In any event, I do not think that the bank would know if I made the transfer or she did if I am at home when I make the trip to the great beyond. Unless they check the photo from the ATM when the transfer was made but I do not see a reason for doing this.



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semperfiguy
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Re: Income Letter

Post by semperfiguy » December 17, 2018, 9:27 am

saint wrote:
December 17, 2018, 5:59 am
If you cant trust your wife why would you still be married ?
I know im a little slow sometimes , but seriously how can you live and sleep with someone you do not trust . Thats just plain denial.
[/quote]


One has to be very careful not to be too naïve when it comes to Thai women. Just remember that in this culture it is totally acceptable to tell lies, and never forget that 59% of all Thai women commit adultery and are the 2nd most adulterous in all the world. Trust to a Thai is a totally different concept than it is in the West. We Americans "trust" our wives and put all of our assets in joint accounts, then half the marriages end in divorce. I know a guy who was married to a Thai for 18 years while living in the US. They were both "born again" Christians, she sang in the choir and led mission trips to Thailand with her church for years. All bank accounts were joint. When she dropped the hammer on his head she plundered the bank accounts and left divorce papers on the kitchen counter while he was away at work and wound up with half the marital assets in divorce court. Now she is married to her younger adulterous lover and enjoying most of her former husbands hard earned cash.

Granted there should be a certain degree of trust between spouses, but each couple should strive to find a balance between blind total trust and being prudent and realistic taking into account the culture in which we live. Stop seeing the Thais through a Western paradigm. It's a recipe for disaster! Just remember...we're living in a country where people wear amulets to keep them safe, then drive in the wrong direction down a super highway, run red lights, leave the scene of an accident and drive their motorbikes at night with the lights off so the ghosts won't follow them...and they think all of that is NORMAL!

Thailand ranked most adulterous country in the world:

https://asiancorrespondent.com/2015/02/ ... the-world/
Last edited by semperfiguy on December 17, 2018, 1:05 pm, edited 1 time in total.
Colossians 2:8-10...See to it that no one takes you captive through philosophy and empty deception, which are based on human tradition and the spiritual forces of the world rather than on Christ. For in HIM dwells all the fullness of the GODHEAD bodily; and you are complete in HIM, who is the head of all principality and power.

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Re: Income Letter

Post by vincemunday » December 17, 2018, 10:07 am

A friend of mine from Romford in Essex was married to his missus for 28 years, he went home last year for medical treatment and his wife went to Laos and gambled everything they own, he's now in the hole for tens of millions of baht. When I spoke to him last his words were "I thought after 28 years I could trust her", make if that what you will.
The forest was shrinking daily but the trees kept voting for the axe as its handle was made of wood and they thought it was one of them.

LoneTraveler
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Re: Income Letter

Post by LoneTraveler » December 17, 2018, 11:16 am

I am aware of the lying, cheating, stealing ability of Thai women. However, I have been married for 12 years and I have had her open a bank account in her name only. There is a fair amount for her to live on for 2+ years after I finish life's journey. I told her if she spends it now, I wish her luck in supporting herself and daughter later on. Her education and life's skills would perhaps qualify her for a job at Big C or 7/11. Most Thai ladies I have met think it is very easy to find a foreigner to support them once their former husband, lover, boyfriend, whatever is finish. Not so easy anymore. Thanks to online forums and the internet in general, most farangs are wising up and see (some not all) Thai ladies for what they are. I have seen first hand what Thai ladies are capable of in a short or long time relationship. And many foreigners, are left impoverish and or shocked to think their wife or longtime girl friend would do this to them.

My wife wanted a house for her family so I had one built which is where I now live and put it in her name, same with my 2 cars in her name. I told her if she steals from me she is stealing from herself. Less money I have to put in bank for her for life later on.

I do not completely trust anyone when it comes to finances, so I have the ATM card locked in a safe (heavy duty key and combination) and because she does not have combination or key, she will only get card when my journey on life's highway comes to a complete stop. And 50% of my funds are in a direct deposit account (my name only) which she has no access to because of the need to present my passport. When I am gone I just hope she gets the funds and not the bank which is why I am preparing now sooner rather than later and because of my age (old very old). Appears power-of-attorney is way to go.

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sometimewoodworker
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Re: Income Letter

Post by sometimewoodworker » December 17, 2018, 11:24 am

saint wrote:
December 17, 2018, 5:59 am

If you cant trust your wife why would you still be married ?
I know im a little slow sometimes , but seriously how can you live and sleep with someone you do not trust . Thats just plain denial.
55555555555

A little slow is not a phase I would use. Incredibly naive would probably be more apt.

Many Thai people have no real concept of future planning. Sure the know the words but deep down they are just words nothing more. If they have it they will spend it. How many high prize winners of the lottery have much of the money (or investment grade objects like land) left after a few months? I don't know but my guess is very few.

When I suggested to SWMBO that we could both have a bit more money from our budget she said "OK for you but don't give me more money because I will just spend it".

With us, I control the budget, she controls spending it.

Would I trust her to have control of my savings? First she wouldn't accept it, second absolutely not, they have to support us in my retirement. She will get almost everything when I die but there will be enough left to support herself comfortably.

SWMBO used to give her Mum 7,000 Baht a month and she drank a lot of it and wasn't happy. She has cut down to giving 3,000 Baht and mum is much better, drinks little and is happier now.
Jerome and Nui's new househttp://bit.ly/NJnewHouse

saint
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Re: Income Letter

Post by saint » December 17, 2018, 12:25 pm

Yea , i never mentioned any race , cuz that would be racist !!!! My point was i dont care what colour or creed they are , women are women the world over .
In my limited experience :^o there are good and bad everywhere . So , if you have a wife that you cannot trust , then why are you still with her /
Naive , slow , whatever i may be , i sure aint stupid enough to give my life or heart to someone i cant trust . Full stop .
If i felt i couldnt trust my wife before we got married then i sure would not of got married . simple really , find one you can trust .
I just cant get my head round you live in the same house as someone your married to and what , you keep everything under lock and key ? Is that what marriage has now become ? Maybe im a romantic but i want more out of a relationship than that . Whatever happened to sharing is caring , whatever happened to 50 . 50 .
Before any of you start telling me to watch out , your a sucker , dont trust Thai women cuz there all the same , i say to you bollocks , they are not .
Known my Mrs for 14 years , did my homework for awhile , decided to back my instincts and marry the girl , job done .
Could not be happier . Everythings in her name cuz its easier and im a lazy bastard . Give her a small allowance because i did not want her having nothing in her purse . Some she spends , some she gives her disabled Mum , and some she saves .
She would not take 20 baht from my wallet , which is not locked in a safe by the way , without asking first .
She understands the value of money as much as i do , and realises what we have , we have , and when its gone , its gone .
Thats called taking a farmers daughter from the village and educating her to the ways of this world .
Watching her grow has been a delight , and she is so street smart now , she puts me to shame .
Just got to add , im not alone , i know many couples her in Udon who do trust their wives , rightly or wrongly , and all have been together a while and seem very happy .

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tamada
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Re: Income Letter

Post by tamada » December 17, 2018, 2:20 pm

saint wrote:
December 17, 2018, 5:59 am
semperfiguy wrote:
December 16, 2018, 9:13 pm
Stantheman wrote:
December 16, 2018, 8:55 pm
With income letter on the way out I have a question about the 400k baht option for marriage permission to stay. Since the account can not be a joint account has anyone know of an expat who used this option and passed away, then the surviving spouse not being able to get to the funds?
Simple solution....the staff at my bank, one in Udon and the other at the headquarters in BKK, point blank told me to set up a power-of-attorney (their standard form) for the spouse, then if you croak she can use your ATM card to withdraw the money daily until the account is emptied, or walk right in the bank and do a teller withdrawal or transfer to an account of her choosing by teller or ATM machine. I was told they will never know you have died unless you tell them, so tell your spouse to empty the account and it will automatically close after one year with no activity. Done and dusted! If you don't trust the wife while you are still alive, then keep the passbook and ATM card in a safe place away from her and only reveal the PIN number with instructions that you have locked away to be viewed only at the time of your death.
If you cant trust your wife why would you still be married ?
I know im a little slow sometimes , but seriously how can you live and sleep with someone you do not trust . Thats just plain denial.
Maybe she's rocking rumpy-pumpy, 3-holer, can suck a golfball through nine yards of garden hose, swallows or regularly lets 'my girlfriend me' join in?

We've all been there (I think).

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Re: Income Letter

Post by Jello » December 18, 2018, 8:05 am

Has anyone changed a non-imm O retirement visa to a non-imm O marriage at the Udon Immigration office?

I've read on other forums that some immigration offices will do this, while others tell you to leave the country and apply for a new visa.
UFF DA!

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Re: Income Letter

Post by glalt » December 18, 2018, 9:08 am

This thread has gone a little off topic so I'll venture my opinion. I have lived here in Thailand for many years and have seen a lot of relationship disasters. You need to remember two things. Number one is to never spend more than you can afford to walk away from. Number two is that no one is going to take care of you except you. Love and trust is fine but you still need to have a plan "B".

Some guys hire crooked lawyers in an attempt to protect their assets. If it comes right down to it, those papers are only worth the paper they are written on. (TIT). I bought a condo BEFORE we were married. It is in my name. My liquid assets are about evenly divided between my Thai bank and my US bank. The Thai bank account is also in my name to meet my visa requirements and also to protect myself.

My Thai wife has been putting up with me for about 14 years and I do trust her. That said, she has no idea how much I have in my home country. I have spent a lot of money on land and her house. Her future is secure and she really doesn't need me. Everything except my bank accounts, condo and a vehicle are in her name. Since she is a woman, you can never be 100 percent sure of what she will do. If worse comes to worse, I can pack my bags, put them in MY truck and be gone within a couple days. I'll always have a roof over my head and certainly won't miss any meals. I will never be in a financial trap. You need to watch out for number one and be able to sleep well.

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semperfiguy
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Re: Income Letter

Post by semperfiguy » December 18, 2018, 9:32 am

glalt wrote:
December 18, 2018, 9:08 am
This thread has gone a little off topic so I'll venture my opinion. I have lived here in Thailand for many years and have seen a lot of relationship disasters. You need to remember two things. Number one is to never spend more than you can afford to walk away from. Number two is that no one is going to take care of you except you. Love and trust is fine but you still need to have a plan "B".

Some guys hire crooked lawyers in an attempt to protect their assets. If it comes right down to it, those papers are only worth the paper they are written on. (TIT). I bought a condo BEFORE we were married. It is in my name. My liquid assets are about evenly divided between my Thai bank and my US bank. The Thai bank account is also in my name to meet my visa requirements and also to protect myself.

My Thai wife has been putting up with me for about 14 years and I do trust her. That said, she has no idea how much I have in my home country. I have spent a lot of money on land and her house. Her future is secure and she really doesn't need me. Everything except my bank accounts, condo and a vehicle are in her name. Since she is a woman, you can never be 100 percent sure of what she will do. If worse comes to worse, I can pack my bags, put them in MY truck and be gone within a couple days. I'll always have a roof over my head and certainly won't miss any meals. I will never be in a financial trap. You need to watch out for number one and be able to sleep well.
Amen to all of that Glalt! You hit a homerun with that post. The only guys that won't understand are the newbies that are still wet behind the ears and just haven't had the experience of being screwed to the wall by a wife. Their time may come one day and then they'll hopefully get it.

K**g Solomon was said to be the richest and wisest man that has ever lived. He had hundreds of wives and no doubt had his fill of drama. He says in Ecclesiastes 7:28.... Only one out of a thousand men is virtuous, but not one woman! ... one man among a thousand I did find, but I have not found one woman to be wise among all these.

If after hearing of this, some of you guys think you know more than K. Solomon and are foolish enough to believe that marriage is supposed to be a 50/50 relationship and Thai women are expected to control the purse strings, then wake up and smell the coffee. Don't be duped by all this modern-day politically correct humanist psychology, and step up and claim your God-given position of authority in the home.
Colossians 2:8-10...See to it that no one takes you captive through philosophy and empty deception, which are based on human tradition and the spiritual forces of the world rather than on Christ. For in HIM dwells all the fullness of the GODHEAD bodily; and you are complete in HIM, who is the head of all principality and power.

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Tracechain
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Re: Income Letter

Post by Tracechain » December 18, 2018, 10:28 am

This is better than watching Hee Haw!

(A 70's TV show with country music, comical skits, and some decent looking wimmin)
Hit 'em hard, hit 'em fast, hit 'em with the one they don't expect, and just keep hitting.

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Re: Income Letter

Post by Giggle » December 18, 2018, 12:02 pm

Two weeks after you geezers cark it, she'll buy her layabout brothers each a new truck and be back to eating bugs and field rat. It's how they roll.
Ashli Babbitt -- SAY HER NAME!

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Giggle
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Re: Income Letter

Post by Giggle » December 18, 2018, 12:55 pm

A little salt in the festering wound ... My example:

At today's rate of 32.76 baht per 1 US dollar:

Krung Thai Bank 1 year fixed account -- 1.05% (this is the filthy foreigner rate, not the premium, pristine Thai rate)
My US credit union 1 year fixed acct -- 2.85% (this is for amounts as small as $1K but $25k would be the same)

Annual interest, on 800K baht or $24,420:

The Thai bank yields interest of 8,400 baht.
The US credit union yields interest of $696.71 or 22,824 baht.
a difference of B14,424

To be fair, the Thai bank frontloads a tax (15%) while the us bank doesn't, so the difference is actually B11,000 or $335.

Ahh, paradise.

For anyone who claims the process and costs are cheaper or easier for a Thai to live in the US, than an American to live in Thailand, I have some sobering news for you. It's not. The process my wife went through to live as a permanent resident in the US took a few months, but was only about $1,000 and resulted in absolute residency good for 10 years. Once the residency granted, she never had to contact immigration (FOR 10 YEARS) unless she changed address. Insular Thais start with us from scratch EVERY SINGLE YEAR. It's as if 10 years of exemplary residence hasn't convinced them that you're not a dirtbag. (and in three years you'll lose, in bank interest alone, the equivalent of the costs of a 10-year residency in the US -- not to mention 90-day babysitting and annual anal probe.

As with many things here -- it's all about the money. Appallingly money-grubbing.
Ashli Babbitt -- SAY HER NAME!

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Re: Income Letter

Post by saint » December 18, 2018, 1:11 pm

Yet , were still here . Odd ah .
I thought it was a British tradition to bitch about everything . Oh well another of my bubbles well and truly burst . :roll:

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Re: Income Letter

Post by Giggle » December 18, 2018, 1:27 pm

Not bitching, per se, just adding a dose of reality to those whose lifelong ambition it is to extol the virtues of the glorious kingdom.

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Re: Income Letter

Post by glalt » December 18, 2018, 2:18 pm

I'm not a wealthy man by any means, but I also don't have to live on a budget. Actually my wife does control the purse strings. I give her 30,000 baht every month and she takes care of all the household expenses, including all the utilities and the Internet. If she has anything left over, it is hers. My best friend, RIP, always told me that I give her too much. I absolutely hate shopping and running around paying bills. It is well worth it to me for her to take care of all that stuff. About 9 years ago, I asked to sit down and figure out how much she needed for all our living expenses. She told me 25,000 baht I I gave her 30,000 and told her whatever she had left over was hers. She has never asked for more even though things have gotten more expensive. I do give her the money for the vehicles insurance and buying big ticket items, however it's up to me to decide if we need those big ticket things.

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Giggle
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Re: Income Letter

Post by Giggle » December 18, 2018, 2:57 pm

Really? Giving a dedicated life partner a simple allowance -- like a child? If you don't trust her, don't marry her. Simple.
Ashli Babbitt -- SAY HER NAME!

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pipoz4444
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Re: Income Letter

Post by pipoz4444 » December 18, 2018, 3:47 pm

glalt wrote:
December 18, 2018, 9:08 am
This thread has gone a little off topic so I'll venture my opinion. I have lived here in Thailand for many years and have seen a lot of relationship disasters. You need to remember two things. Number one is to never spend more than you can afford to walk away from. Number two is that no one is going to take care of you except you. Love and trust is fine but you still need to have a plan "B".

Some guys hire crooked lawyers in an attempt to protect their assets. If it comes right down to it, those papers are only worth the paper they are written on. (TIT). I bought a condo BEFORE we were married. It is in my name. My liquid assets are about evenly divided between my Thai bank and my US bank. The Thai bank account is also in my name to meet my visa requirements and also to protect myself.

My Thai wife has been putting up with me for about 14 years and I do trust her. That said, she has no idea how much I have in my home country. I have spent a lot of money on land and her house. Her future is secure and she really doesn't need me. Everything except my bank accounts, condo and a vehicle are in her name. Since she is a woman, you can never be 100 percent sure of what she will do. If worse comes to worse, I can pack my bags, put them in MY truck and be gone within a couple days. I'll always have a roof over my head and certainly won't miss any meals. I will never be in a financial trap. You need to watch out for number one and be able to sleep well.
I will second what semperfiguy said, you got it spot on and you are absolutely correct in saying "Number one is to never spend more than you can afford to walk away from and also in the need to have a Plan B - This is a must, in life.

I have basically done the same as you, 1. Assets of House +Land+Car+some Cash in her name and her control in Thailand, 2. Thai Condos in my name and 3. Liquid Cash assets held off Shore + Foreign Deposit Account in Thai Banks also in my name - Approx 33% in each of the three Buckets. Also, like you have done, I have set her up so her future and that of her daughter, is very secure. I figured this was the least I could do for her for the past nine years, of happiness and no nagging.

I have no intention of leaving anything to my EX or the Government or the Lost Dogs Home, so somebody has to get it. So this is the next step, to ensure she has access to or gets, that other 66% at a future point in time.

The only difference to you, is that I will need to get a Taxi, if I choose to leave :roll:

I would also say that from experience with the previous Ex, most Expats should see the signs coming, long before that Departure day.

pipoz444
Last edited by pipoz4444 on December 19, 2018, 12:38 pm, edited 2 times in total.
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semperfiguy
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Re: Income Letter

Post by semperfiguy » December 18, 2018, 4:38 pm

Giggle wrote:
December 18, 2018, 12:55 pm
A little salt in the festering wound ... My example:

At today's rate of 32.76 baht per 1 US dollar:

Krung Thai Bank 1 year fixed account -- 1.05% (this is the filthy foreigner rate, not the premium, pristine Thai rate)
My US credit union 1 year fixed acct -- 2.85% (this is for amounts as small as $1K but $25k would be the same)

Annual interest, on 800K baht or $24,420:

The Thai bank yields interest of 8,400 baht.
The US credit union yields interest of $696.71 or 22,824 baht.
a difference of B14,424

To be fair, the Thai bank frontloads a tax (15%) while the us bank doesn't, so the difference is actually B11,000 or $335.

Ahh, paradise.

For anyone who claims the process and costs are cheaper or easier for a Thai to live in the US, than an American to live in Thailand, I have some sobering news for you. It's not. The process my wife went through to live as a permanent resident in the US took a few months, but was only about $1,000 and resulted in absolute residency good for 10 years. Once the residency granted, she never had to contact immigration (FOR 10 YEARS) unless she changed address. Insular Thais start with us from scratch EVERY SINGLE YEAR. It's as if 10 years of exemplary residence hasn't convinced them that you're not a dirtbag. (and in three years you'll lose, in bank interest alone, the equivalent of the costs of a 10-year residency in the US -- not to mention 90-day babysitting and annual anal probe.

As with many things here -- it's all about the money. Appallingly money-grubbing.

Yea, the difference is that we Westerners are smart enough to be able to sit down, consider all the variables and make informed decisions on what is best for us....financially, emotionally, spiritually and otherwise. Thais just don't want to "think" that much.....the simpler the better. The people at Immigration don't have a clue what we are losing and they could care less. If you sat down with one of them and explained the example that you used above, you would lose them after the first 15 seconds. They just can't follow the math or the logic. If you don't believe me just ask one of them how much interest they are paying on their car or home loan. They don't have a clue. If they can make the monthly payments then they'll sign the papers and all the rest of the fine print is meaningless to them.
Colossians 2:8-10...See to it that no one takes you captive through philosophy and empty deception, which are based on human tradition and the spiritual forces of the world rather than on Christ. For in HIM dwells all the fullness of the GODHEAD bodily; and you are complete in HIM, who is the head of all principality and power.

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Re: Income Letter

Post by newtovillagelife » December 18, 2018, 4:52 pm

Huh!!! I know many Westerners that just sign on the dotted line, if they can cover their payments at the time, and run into financial disaster. You should of have written, many Westerners are smart enough.....far from all.

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