Managing the property of the estate

The estate of the deceased person is also responsible for the estate’s tax matters, which means that it must

• check and, if necessary, correct the pre-completed tax returns of the estateOpens in a new window.
• submit the estate’s tax returns in matters that are outside the scope of the pre-completed tax returns
• notify the Finnish Tax Administration of changes in the account number for tax refunds.Opens in a new window.

The Finnish Tax Administration will send a pre-completed income tax return to one of the estate shareholders each spring until the estate is dissolved.

As long as the estate remains undistributed, the estate is responsible for all tax matters concerning the estate’s assets. The tax matters may, for example, concern sales or lease of the estate’s assets or timber sales. The real estate tax is paid on the basis of ownership only. As a rule, the joint estate administration must manage the same property-related tax matters as the deceased person had to do before their death.

The nature of the estate-related tax matters depends on the property of the deceased person and on whether the property was owned by the deceased person alone or jointly by the deceased person and somebody else (such as the widow(er)). Many asset categories, such as forests, agricultural property and companies, involve issues that must be taken into account in the management of the estate’s tax matters. Such matters as the rights of possession may also impact taxation.

The matters usually become more complex if the estate remains undistributed and under joint administration for a long period of time. For this reason, the property should in most cases be divided and the inheritance distributed without delay.

If the address of the estate changes, the new address details must also be submitted to the Finnish Tax AdministrationOpens in a new window. . The information must be submitted in writing and the new address must be approved by all estate shareholders.

An authorisation makes the management of tax matters easier.Opens in a new window.

Read more about handling the taxes of a death estate on the Tax Administration's website.Opens in a new window.

If the estate wants to sell the real property unit, a pro forma registration of titleOpens in a new window. should be requested for the estate from the National Land Survey of Finland after the estate inventory. The pro forma registration of title lists all estate shareholders and the buyer does not need the estate inventory deed and the attachments to it.

If the estate wants to sell the real property unit before the distribution of inheritance, a power of attorney is required or all estate shareholders must approve the sale.

Before the distribution of inheritance, an estate shareholder cannot sell their share of the real property unit. The estate may ask a real estate agent to provide a price estimate to determine the value of the real property unit.

Contact the customer service of the National Land Survey of FinlandOpens in a new window. to determine the real property owned by the deceased person and the mortgages on the real property.

Visit the website of the National Land Survey of Finland to read more about the change of ownership (the information is in Finnish).Opens in a new window.

The shareholders of an undistributed estate can apply for the registration of the right to own a flatOpens in a new window. owned by the estate in a housing company. The application can be submitted by one of the estate shareholders and the signatures or consent of the other shareholders are not required.

After the registration, the new owner is entered in the Residential and Commercial Property Information System and the list of shares after the National Land Survey of Finland.

The estate may also sell a flat it owns in a housing company in which case all estate shareholders must agree to the sale.

The estate shareholders must jointly decide on the motor vehicles owned by the estate.

No separate registration notification is required when the ownership of a motor vehicle is transferred to the estate. When the ownership is transferred to a new owner, the notification must be submitted within seven days of the transfer.

When the estate sells a motor vehicle, you can submit the notification of transfer at a vehicle inspection station registering vehicles or in your insurance company. When submitting the notification of transfer, you must present the estate inventory deed, a certificate from the Population Information System containing the details of the deceased or a report on the family relationships proving that you are a shareholder in the estate. The notification of transfer only needs to be signed by one estate shareholder.

If the estate is planning to sell the vehicle before the estate inventory, the estate shareholders must obtain a report on family relationships so that the vehicle can be registered to the new owner.

Visit the Traficom website to read more about the vehicles owned by the estate.Opens in a new window.

If the deceased person owned firearms, you should contact the local police department.

You are allowed to keep the firearms of the deceased person for six months from the owner’s death. You can decide what to do with the weapons during that period.

Read more about the options available to you on the police website.Opens in a new window.

As a rule, the deceased person’s debts are not inherited by the estate shareholders if the shareholders have terminated the debt relationships and settled all estate-related matters in a correct manner.

Debts of the deceased person are not inherited

• if the debts are paid from the estate’s assets before the distribution of inheritance. This terminates the debt relationships
• if the creditors are notified of the lack of assets in the estate when the debts cannot be paid.

Estate shareholders may have to pay the debts of the deceased person if

• no estate inventory deed is prepared
• if false information about the deceased person’s assets is provided for the estate inventory deed in a manner that harms creditors
• if the estate shareholders do not pay the invoices or other debts of the deceased person in the order specified in the law.

If the assets of the estate are insufficient to pay the debts of the estate and the deceased, the estate is overindebted.

In an overindebted estate, the payments must be made in the order specified in the law.

If the assets of the estate are insufficient to pay all debts, the creditors have the right to receive a certain proportion of the assets. These proportions are determined for all creditors and the debts are paid from the assets of the estate accordingly. The purpose of the estate settlement is to reach an agreement or, if necessary, a decision on the proportional distribution of debts with the creditors.

An estate administrator can be appointed if the estate is large and the shareholders are unable to agree on the settlement between themselves. The application for the appointment of an estate administrator must be submitted to the district court in writing. A fee is charged for the services provided by the estate administrator. The estate administrator also represents the estate and can apply for the initiation of legal proceedings and appear in a court in matters concerning the estate.

If the estate is overindebted, the shareholders can apply for supplementary social assistance for burial costs from the wellbeing services county.