zen4dummies Posted November 24, 2013 Report Share Posted November 24, 2013 I contacted my financial advisor about leaving whatever left of my IRA to my Thai wife and he said that what I should do is setup a trust. A little bit of research showed this is probably not the best thing to do due to withdrawal requirements and other things. Does anyone have any advice on this? Link to comment Share on other sites More sharing options...
baa99 Posted November 24, 2013 Report Share Posted November 24, 2013 If your Thai wife is good with money AND can beat back greedy relatives/friends, then just assign the IRA to her. There is just a simple form to fill out from the financial institution. Otherwise setup a trust so the IRA isn't all used up inside a year. I think a better way to help your wife is to help her setup a business or profession that can provide her a good stream of income. Link to comment Share on other sites More sharing options...
zen4dummies Posted November 25, 2013 Author Report Share Posted November 25, 2013 I want to set up something that would give her an income. She has been burnt by her brother and an inlaw and is wary of getting burnt again but if the money were being doled out she could honestly say that she did not have the money to give away. Her brother is older than she is and 'old Thai hands' tell me that the younger sibling must 'loan' money unless they do not have it. It is not clear how far this goes. She has been wanting to buy a house somewhere, like Korat, and I will probably go along with that. But I have no reason to leave whatever is left of my IRA to my siblings and would like to set up something for her. Link to comment Share on other sites More sharing options...
cavanami Posted November 25, 2013 Report Share Posted November 25, 2013 If the relatives know she has a house in her name, pressure can be applied for her to take out a loan against the house. Better to have the house in the children's name, if any children or some trust. However, TIT, I have seen cases of loans taken out on condos that Thai ladies do not even own! Link to comment Share on other sites More sharing options...
baa99 Posted December 5, 2013 Report Share Posted December 5, 2013 The wife should continually ask for the money back from her brother and the inlaw. Every time she calls the relatives this should be mentioned. The best defense is a strong offense. Link to comment Share on other sites More sharing options...
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