The testamentary record drawn up at the time of probate is a list of of the partners in the estate and the assets and liabilities of the deceased and the widow or widower as they stood at the date of death.
The succession book is a summary of the deceased's assets and liabilities and the members of his or her estate. It also serves as a tax return, which is used to impose a tax on the heirs. inheritance tax. The succession book is also the list of partners in the estate, as it shows all the heirs and legatees. Only after the will has been drawn up can property be distributed. in the distribution of inheritance.
The succession register contains all the information necessary for the administration of inheritance tax and the subsequent distribution of the estate, such as information about the will.
When should the deed of inheritance be done?
Without exception, the will must be drawn up after the death of the person concerned. It must be done within 3 months of the death.
The obligation to proceed with or initiate the probate of a deceased person's estate usually falls on the widow or children.
Invitation to a probate hearing
Invitations to the probate hearing must be sent to all the partners in the estate, the widow and any secondary heirs in good time so that they can actually attend the probate hearing.
Who can make a will?
The will is drawn up by two trustees, who assess the value of the property and record it in the will. The trustees are not required to be qualified or unqualified, but if they are unqualified, this can lead to problems with inheritance taxes, the distribution of inheritance and the sale of assets.
Amos Law Firm and Writing of Succession
Amos Law Firm helps you to draw up your will. It is advisable to use a lawyer to draw up the will, as a carefully drafted will can prevent unwanted tax consequences and problems with the subsequent distribution of the estate. The probate fee is an expense to be paid out of the estate's assets.
We charge 250€/hour (incl. VAT) for the execution of the deed of inheritance.
The typical total price for simple wills is €1250-1500.
The succession includes the following steps:
- Initial consultation
- Ordering a genealogy and other documents
- Drawing up a succession certificate
- Official invitations to the succession
- The ceremony at our office or by video link
- Discussing inheritance taxes with you
- Acting as a trusted man in the probate process
- Submission of the deed of succession to the Tax Administration
- Further instructions for the estate.
Who will organise the probate?
You are responsible for organising the adoption of the deceased:
- the partner in the estate who is in charge of the assets of the estate
- liquidator
- the executor of the will appointed by the deceased
- any other person to whom it is most closely related in the circumstances.
In practice, the deceased's next of kin usually agree among themselves who will take care of the arrangements for the will and hire a possible notary. Very often, the organiser is either the widow or one of the deceased's children or other close relatives.
What information must the deed of succession contain?
There is a lot in the will, which is why it is worth hiring a lawyer to help. Here are some of the things that the will contains, among other things:
- Name, address and telephone number of contact person
- Names and contact details of heirs, widow(er)s and legatees
- Check the order of succession to find out who the deceased's heirs are.
- Address and personal identification number of these persons
- Declarant of the estate
- Two trusted men who sign the will
- Family links
- Assets and liabilities of the deceased at the date of death
- Widow's assets and liabilities
- Possible prepayments
- Debts and deductions of the estate.
What are the documents required for probate?
The circle of heirs is established by means of a genealogical survey. The genealogy often consists of a number of individual certificates, issued by parishes and Office for Digital and Population Information.
Compiling a genealogy can be time-consuming and is often entrusted to a probate specialist. Due to delays in the delivery of civil status certificates, the compilation of the family record is the most time-consuming stage of the probate process.
In addition to the genealogy, a statement of the assets, debts and other matters relevant to the succession is required for the probate. The assets must be valued at their fair market value at the time of death.
Submit as an attachment to the deed of inheritance:
- Genealogy and certificates. Civil status certificates and genealogical certificates of the deceased and partners in the estate for the purpose of probate. An unbroken genealogical record of the deceased must be obtained from each place where he or she was registered after the age of 15. Civil status certificates are also required for the partners in the estate in the place where they are registered. The civil status certificates and genealogical records can be obtained either from the Office for Digital and Population Information or from the parish in the case of parishioners
- If a partner in an estate gives up his or her inheritance to his or her heirs, a genealogical certificate is also required for him or her up to the age of 15.
- Details of the deceased's assets and liabilities in all banks and funds.
Details of any other assets of the deceased, such as an apartment, car, summer cottage, etc.The deceased's will must also state the fair value of the assets. If necessary, estate agents can help with the valuation of properties and apartments. - If the deceased's spouse is still alive, information on his or her assets and debts is also required in the succession register.
- Information on wills.
- Information on whether the spouses had a prenuptial agreement.
- Information on whether the deceased had made an advance payment.
Writing the will remotely
You can register your succession by also remotely. In this case, the partners of the estate are invited to a video conference and the will is signed electronically.
Succession and extension of time
In a large estate, the 3-month deadline for filing a will may prove to be too short. Sometimes it can take months to obtain a genealogy and information on assets.
You can read more about applying for extra time from this article.
You can apply for an extension to the probate period through the Tax Administration. The Tax Administration can only extend the time limit for probate on application for a justified reason. The reasoned application must be made before the expiry of the current 3-month deadline.
If you are an heir or declarant of an estate, you can apply for an extension in MyTax. If you cannot use MyTax, you can apply for an extension on a paper form.
A trusted man in a will
The duty to make a will is primarily incumbent on the partner who is in charge of the estate's assets. This may be a widow, a child or another relative. He or she is known as the declarant of the estate. The persons who make the will are known as trustees.
By choosing a lawyer who is familiar with inheritance law to act as a trustee, the partners in the estate have the opportunity to receive not only a properly drafted succession certificate, but also useful advice and information on inheritance tax, the administration of the estate and further steps to be taken in relation to the distribution of the estate.
What does a trusted man do?
It is the duty of the trustees, on the basis of the information provided by the declarant of the estate, to enter and value the assets of the estate in the succession register to the best of their knowledge. When the deceased's will is submitted to our office, our office representatives act as trustees and, where necessary, we help to arrange for expert valuations of the fair value of the estate's assets.
What if the trustee is unfit?
You always need the following for a succession two trusted men assess the assets and liabilities of the estate. There are no specific legal requirements for religious men. They must have legal capacity, but otherwise any person of legal age can act as a trustee.
Where is the succession certificate sent?
The deed of succession must be sent to the Tax Administration. The Tax Administration will use the deceased's succession certificate to determine the inheritance taxes for the heirs named in the deceased's succession certificate.
Frequently asked questions
Where can I get the forms for writing my will?
Who are the partners in the estate?
How much does it cost to get a will?
How quickly must the will be drawn up?
What to do in a contested will?
How long does it take to register a succession?
What are the consequences of failing to register your succession?
Can the man entrusted with the deed of inheritance be a relative?
What to do if the deceased is in debt?
How is inheritance tax delivered?
What happens after probate?
Which annexes to the deceased's will be sent to the Tax Administration?
When is the succession record sent to the Office for Digital and Population Information?
How can I find out who the partners in an estate are?
The article was written by a specialist in inheritance law Tuula Rainto, lawyer. You can call him for a free 15-minute consultation. p. 010 299 5090
[avatar user="amoslaki" size="352" align="left" link="https://amoslaki.fi/ajanvarauskalenteri/" target="_blank" ]Attorney Tuula Rainto, Amos Attorneys at Law. You can always call her free of charge, tel.010 299 5090[/avatar]