The heirs can arrange the distribution of the inheritance as they wish, provided that certain matters have been settled before the distribution of the inheritance.
The probate process must be completed before the inheritance can be distributed.
Deed of inventory must be delivered before the division of the estate.
In the division of an estate, the assets owned by the deceased at the time of their death, as recorded in the initial inventory, are distributed among the heirs and beneficiaries of a will. The division of the estate is carried out based on the list of assets entered into the initial inventory.
Renunciation of inheritance and division of inheritance
Following the inventory of assets, for example, a father or mother may have renounced their inheritance in favour of their child. The order of inheritance may therefore have changed after the inventory of assets. In this case, the inheritance tax decision will be amended based on a copy of the deed of distribution of inheritance sent to the Tax Administration.
How is an inheritance divided?
Heirs may arrange the distribution of the inheritance as they wish, provided they are unanimous in their decision. The inheritance may be distributed wholly or partially. If necessary, a lawyer specialising in inheritance law can also be hired for the distribution.
When should you use an estate administrator?
If disputes arise concerning the distribution of an estate, or if relatives disagree on how the estate should be divided, a court-appointed estate distributor will carry out the distribution. An estate distributor is also often used when there are minors among the heirs or if one of the heirs' share of the estate has been distrained.
Before the division of an estate, a partition must be made, legacies fulfilled, and debts paid.
Before distributing the estate, you must ensure that all debts of the estate have been paid and that any distribution of assets has been made. Before the distribution of the estate, the requirements of any legatees, i.e. beneficiaries of the will, must also be met.
The inheritance shall be divided according to legal order of succession.
Inheritance is divided either according to a will or according to the law. Inheritance is divided in such a way that each heir and family branch receives their own share of the distribution. Direct descendants, i.e. children, grandchildren and great-grandchildren, always receive a statutory share, which is half of the inheritance. The statutory share is always paid even if the deceased made a will concerning their property.
The same estate includes minor children and their parents.
If there are both minor children and their parents in the same estate, you must apply to the National Board of Vital Statistics for permission to replace the guardian. This will represent the minor child in the estate. Once the application has been made and received by the authority, the Office for Digital and Population Information will issue a decision within a few months.
The legal validity of the estate distribution
The deed of partition must be dated, signed, and witnessed.
The distribution of inheritance comes into effect after the signing of the deed of partition. The distribution of inheritance is not separately confirmed by an authority.
After the distribution deed is drawn up, a 6-month period for complaints begins. During the complaint period, any heir can object to the distribution and demand that the district court annul or rectify the inheritance distribution. If the distribution is not objected to within six months, the inheritance distribution becomes final.
A copy of the deed of distribution must be submitted to the tax authority.
Send a copy of the deed of distribution to the tax authorities.
Article drafted by the Advocate Tuula Rainto, Amos Law Firm. You can always call him free of charge on 010 299 5090. You can consult our price list Here.
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