Estate inventory deed, estate inventory, distribution of inheritance and wills Kempele, Raahe and Oulu

Estate inventory deed and estate inventory

The Code of Inheritance carefully details how the estate inventory and division of inheritance need to be performed. The estate inventory deed must be drawn up and the inventory performed within three months after a person’s death. If the estate inventory cannot be performed within three months due to a well-founded reason, the Tax Administration may grant more time for it upon separate application.

The Tax Administration will determine the inheritance taxes based on the estate inventory deed. Therefore, it is important that the estate inventory deed has all the necessary information and that the assets have been valuated correctly. In most cases, the deceased’s debts are not inherited, but the estate shareholders may become liable for the deceased person’s debts if the estate inventory has not been performed, it is not performed within the determined period of time or incorrect information has been provided for it.

There are many judicially challenging aspects related to estate inventory matters, such as the widow’s status and rights, potential notices of the will and anticipated inheritance, and the information related to these must be noted down in the estate inventory. Due to this, drawing up an estate inventory deed and performing the inventory should be done by a professional lawyer.

Distributing inheritance

After the estate inventory, each estate shareholder has the right to claim the distribution of inheritance. If the deceased was married, division of property must be performed before the distribution of inheritance.

The estate shareholders can agree on the distribution of inheritance as they wish. However, if one of the shareholders is legally incompetent or otherwise represented by a trustee in the distribution of inheritance, a permit from the Digital and Population Data Services Agency must be applied for the distribution. A distribution deed must always be drawn up for the distribution of inheritance. All shareholders must sign the distribution deed and it must be attested by two qualified witnesses.

If the shareholders cannot reach an understanding concerning the distribution of inheritance, they must apply for an estate distributor through the District Court. The District Court will then appoint a suitable estate distributor for the heirs.

Will

A will is one of the most common legal documents drawn up by private persons. At the same time, it is one of the most tightly regulated documents. Due to this, it is also a document that can cause complicated legal proceedings in many cases. It is recommended to always write your will with a lawyer, which ensures that as many situations open to interpretation can be avoided as possible.