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Hi,

My wife is PR and Thai citizen. Yes, the real estate was jointly
owned. Not sure what kind of documentation they have now. As for
investment opportunities, since there is no timeline whatsoever
(actually, my MIL has talked about giving this to her grandchildren --
our children) I was thinking some sort of diversified portfolio of
stocks/bonds/ or money market for now and then if/once she actually
decided to give it to them it would go in their 529s. We'd have to
look at it more carefully if bringing it to the US was a viable option.
When I first moved to Thailand some of my dividend reinvestment
companies (that I got from my grandparents) thought I was not a US
citizen and the taxes were unbelievable until I convinced them I was a
US citizen but working abroad.

Thanks much,

Mike

Mike wrote:
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Mike: Is your wife a US citizen, or PR and Thai citizen? Were the
real estate jointly owned? Was there some kind of legal document in
Thailand establishing the ownership? If your wife could bring the
proceeds to the US, what would she and your MIL want to invest these
funds in, that would be better than the investment opportunities in
Thailand?

All,

My wife (who lives in the US) and mother-in-law in Thailand recently
sold some real estate in Thailand. My mother-in-law has the proceeds
in a plain-old savings account in a Thai bank. Other than the recent
coup in Thailand, the general state of banks and investment
opportunities in Thailand is not stellar. My wife and I have wondered
if and how we could bring those funds here to the US and invest them
although I don't know who would be considered the owner, how they would
be taxed, etc. Any experience on this or who would be a good resource?

Thanks much,

Mike