Handling the deceased person's banking and insurance

If it is unclear where the deceased was a customer even after going through their documents, ask all the banks and insurance companies that operate in Finland. 

The deceased person's bank account is jointly owned by all estate stakeholders, so each of these must give their consent for the use of funds. Stakeholders can give power of attorney to one stakeholder to use the estate's bank accounts. The mandate can include a list of those bills that can be paid from the estate's accounts.

Before the estate inventory you can take money from the bank account to cover the funeral, estate inventory and estate administration costs. After the estate inventory you can use money on the account for other purposes if all the stakeholders and legatees have agreed to this.

The estate's stakeholders must see to it that the deceased person's financial affairs are seen to an end. The stakeholders must cancel and terminate agreements and the related costs. 

Estate inventory costs can be paid from the deceased person's bank account. These include the building maintenance charge for the deceased person's residence, electricity and telephone bills and other estate related expenses.

Remember to cancel newspaper orders and agree on a final bill for these.

Notify all insurance companies where your family member was of customer as of their death. You will receive information on all insurance policies, insurance assets and possible compensation. These are needed for the estate inventory. After exceeding a certain limit, insurance indemnities may be considered taxable income for stakeholders.