To get the best help for your situation, first answer the questions on the Preliminary questions page.
Death of a close family member
- Preliminary questions
- When a death occurs
- Property of the deceased person
- Estate inventory
- What is estate inventory?
- Who organises the estate inventory?
- How is the estate inventory organised?
- The documents required to determine the heirs
- Details of the deceased person’s assets and debts
- Can I renounce inheritance?
- What information must be entered in the estate inventory deed?
- Submit the estate inventory deed to the Finnish Tax Administration
- Inheritance tax
- Managing the property of the estate
- Division and separation of property after a spouse’s death
- Distribution of inheritance
- Dissolution of the estate
- Estate inventory
- Status and livelihood of surviving close family members
- Checklist
Estate inventory
What is estate inventory?
The estate inventory is an occasion where the assets, debts, heirs and beneficiaries of the deceased person are determined. The estate inventory must be carried out within three months of a person’s death.
The estate inventory deed is a document prepared in the estate inventory. The estate inventory deed is used as
- the tax return on the basis of which the inheritance tax paid by the heirs is determined
- a property inventory listing the assets and debts of the deceased and the widow(er)
- a list of the estate shareholders because the names of the shareholders and the widow(er) are entered in the estate inventory deed.
The estate inventory deed must be sent to the Finnish Tax Administration within one month of the estate inventory. You can prepare the estate inventory deed yourself or contract an expert to prepare the document. The estate inventory deed must be thoroughly prepared and for this reason, an expert is often contracted to do the work.
The estate of the deceased means the assets and debts of the deceased person. The estate shareholders must make all decisions concerning the estate together or authorise one of the shareholders to manage the matters of the estate.
Who organises the estate inventory?
The estate inventory is usually organised by the estate shareholder who manages the property of the deceased person. It is often the task of the widow(er) or one of the children of the deceased. If the property of the deceased is managed by more than one person, the close family members of the deceased may decide who will organise the estate inventory.
How is the estate inventory organised?
Estate inventory participants must be notified of the time and place of the estate inventory in good time so that they are able to attend the event.
If you are the person organising the estate inventory,
- set a time and place for the event
- invite the shareholders of the estate (heirs, the widow(er) and the beneficiaries) to the event
- remember to mention the name of the sender in the invitation.
If the deceased person was married and did not have any children (direct heirs), both the spouse and the secondary heirs must be invited.
The invitation can be sent as a free-form document. If any of the invited persons is unable to attend the estate inventory, it must be stated in the estate inventory deed how the invitation was sent.
The documents required to determine the heirs
A report on the deceased person’s family relationships is required for the estate inventory so that the heirs can be determined. The report on the family relationships must contain the details of the deceased from the age of 15 to the date of death. A report on the family relationships of the spouse, deceased heirs and persons that have renounced inheritance may also be required.
An official statement that the shareholders of the estate are alive is also required for the estate inventory. This may be stated in the report on the deceased person’s family relationships. If the information is not contained in the report on the deceased person’s family relationships, a separate life certificate of the shareholders must be requested.
Details of the deceased person’s assets and debts
You need the details of the deceased person’s assets and debts for the estate inventory. An estimate of the monetary value of the dwelling, motor vehicles, forest property and other property owned by the deceased person is required. You do not need to itemise the value of ordinary household effects in the estate inventory deed if their combined value does not exceed EUR 4,000. Art objects and valuables are not considered ordinary household effects.
If the deceased person was married, details of the assets and debts of the widow(er) must also be entered in the estate inventory deed.
If the deceased person was a widow(er) and no division of property has been carried out between the widow(er) and the deceased spouse of the widow(er), details of the assets and debts of the spouse that died first are also required for the estate inventory.
Below are some of the most common items used to calculate a person’s assets and debts for the estate inventory.
Can I renounce inheritance?
You do not need to accept inheritance. You should notify the other parties of this in a separate written document or in the estate inventory deed. Renouncing inheritance involves several issues concerning such matters as taxation and debts and for this reason you should consult an expert before making the decision.
If you have renounced inheritance, you have enforcement debts and you want to prevent the enforcement of the share of the estate, you must submit a notification to the Digital and Population Data Services Agency stating that you renounce your share of the inheritanceOpens in a new window..
What information must be entered in the estate inventory deed?
The following are some of the matters that must be stated in the estate inventory deed:
- date and place of the estate inventory
- name, occupation, home municipality, personal identity code and day of death of the deceased person
- names, addresses and personal identity codes of the estate shareholders and their family relationship with the deceased person
- the person reporting the estate and the trustees
- name and contact details of the contact person
- names of the persons present in the estate inventory
- deceased person’s assets and debts on the date of death
- details of any will and claims for legal share
- details of any advancements
- details of any gifts
- details of any insurance compensation payments.
If the deceased person was married, the following must also be stated in the estate inventory deed:
- assets and debts of the widow(er) on the day of the deceased person’s death
- details of any prenuptial agreement and whether the deceased person and the widow(er) had marital rights to each other’s property
- will the widow(er) transfer any of their property as adjustment to the spouse’s heirs
- will the widow(er) use their right of possession to the couple’s common home.
If the deceased person was a widow(er) and the property of the spouse that died before the deceased person has not yet been divided, the assets and debts of both persons must be detailed in the estate inventory deed in accordance with the death date of the spouse who died last.
An heir must be named in the estate inventory deed even if they did not receive any of the estate’s assets.
The person reporting the estate and the two trustees must sign the estate inventory deed.
There are no official forms for the estate inventory deed. Templates for estate inventory deeds can be found in publications and online services. If you contract an expert to carry out the estate inventory, the expert will prepare the estate inventory deed. The persons taking part in the estate inventory should decide who will submit the estate inventory deed and the attachments to it to the Finnish Tax Administration.
Submit the estate inventory deed to the Finnish Tax Administration
You must submit a copy of the estate inventory deed and the attachments to it to the Finnish Tax Administration within one month of the estate inventory. You can submit the estate inventory deed electronically in MyTax.
Submitting the estate inventory deed to the Finnish Tax AdministrationOpens in a new window.
Keep the original copy of the estate inventory deed yourself. You do not need to submit the estate inventory deed to the Digital and Population Data Services Agency.