Last will and testament
There are many different kinds of wills.
A will can be, for example:
- mutual testament
- testament of title
- testament of tenure
- testament of access
It pays to make a will carefully
A will is an excellent way to anticipate and plan how and to whom your assets will pass after your death. A well thought-out and carefully drafted will is likely to enable you to an amicable distribution of inheritance in the future. The will should also state whether it excludes the spouse of the deceased's spouse.
A will is a way of preparing for different situations and also of making sure that your assets go to the people or bodies you want them to go to.
A will-related question for you:
It's worth taking a moment to think about how and to whom your assets will go according to the law if no will has been made. Who would inherit you under the law?
You can then consider whether this corresponds to the legal order of succession your own wishes.
Wills and inheritance tax
Preparing for inheritance tax is also a good reason to make a will. A will can be used to provide separately for the transfer of ownership, control and profit of property to different persons. This can be advantageous from a tax point of view. It is therefore important to consider the tax consequences when considering the content of a will. The testator may also have other objectives to take into account and may simply from a tax perspective a will can be inconsistent in the overall scheme of things.
Tuula Rainto, [email protected], 045 111 5577
”We updated the mutual will and at the same time we made the trust deeds. At the same time, we were able to influence inheritance tax planning ourselves. Everything was done in one go and the atmosphere was good and relaxed.”
Wills and succession
Under the Finnish inheritance system, heirs in common are entitled to a share of the estate regardless of the will. The legal portion is half of the legal inheritance of the heir at law. In order to draw up a legal portion calculation, it is necessary to have a thorough overview of the estate, as its size may be influenced by factors such as the distribution between the spouses and gifts made by the deceased during his or her lifetime.
Will and spouse, heir and legal successor
For example, a will can be used to secure the financial position of a spouse or common-law partner in advance and to ensure equal treatment of heirs.
If the will has infringed the heir's share in the estate, the heir has the right to claim the share within the time limit laid down by law, despite the will. The time limit is 6 months from the date on which the heir has been informed of the will.
Will and form requirements
A will can be a simple document on the surface, but understanding its implications always requires the expertise of a lawyer. Words such as ownership, use or possession need to be understood by the person making the will. The law lays down strict formal requirements for a will to be valid.
Wills and Amos Law Firm
Our office will help to match the testator's objectives with the will and also ensure that the content of the will is in line with our client's wishes. You can also keep a duplicate of your will in our office safe. You can view our price list Here
Tuula Rainto, [email protected], 045 111 5577
”We updated the mutual will and at the same time we made the trust deeds. At the same time, we were able to influence inheritance tax planning ourselves. Everything was done in one go and the atmosphere was good and relaxed.”