When Register of deceased has been made and the debts of the estate have been paid, the estate can be divided. A document called the deed of distribution of the estate or the deed of distribution of the estate must be drawn up. .
The deed of inheritance must show:
- what has been shared
- the value of the distributed assets at the time of distribution
- what each heir has received
- what may have been missed
- whether the split is complete
Once the deed of allotment has been made and signed, a copy must be submitted to the Tax Administration. This can be done electronically.
A deed of succession is an agreement on the distribution of an inheritance
The inheritance can be divided either by contractual distribution or by a distribution made by the administrator. The division of the estate is always make an inheritance record, regardless of the method of distribution. The deed of succession is also an agreement on the distribution of the estate. The deed of distribution may also be called a deed of distribution.
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What is an inheritance register?
The distribution of the estate takes place either as a contractual distribution or as a distribution by the administrator. Contractual distribution means a joint distribution agreement between the partners in the estate, which is a decision by the heirs on the principles to be followed in the distribution. In a contractual distribution, the distribution of the estate is therefore uncontested and the partners in the estate decide on the distribution themselves. Nevertheless, this distribution must also be the subject of an estate distribution deed. In many cases, a competent lawyer will be able to help you draw up a deed of distribution. The distribution deed must be signed by all the partners in the estate and authenticated by two witnesses.
A distribution by operation of law is a distribution made by the administrator in estates where an external administrator, a lawyer, is appointed to make the decision on the distribution of the estate. In the event of a disagreement between the partners in the estate, a distribution may be brought before the court by any of the partners in the estate if there is no agreement between the partners on the distribution of the estate.
Regardless of the method of distribution, an estate plan must always be drawn up.
What information does the succession register contain?
The distribution book must indicate what property is to be distributed and how it will be divided between the partners of the estate. If the deceased had a will, it is recommended that the succession register be accompanied by a statement as to whether the heirs at law have nevertheless received their legal share. The deceased's succession record must be dated and signed. In the case of distribution of the estate, the deceased's will must be signed by all the partners in the estate and witnessed by two unobstructed witnesses.
If the distribution of the estate has been made by the administrator, the signature of the administrator alone is sufficient to certify the authenticity of the deed of distribution.
The inheritance certificate must always be submitted to the tax authorities
Inheritance tax is based primarily on the succession certificate drawn up at the time of the inheritance. The estate does not cease to exist until the succession certificate has been submitted to the Tax Administration. Always remember to send a copy of the signed deed of distribution to the tax authorities!
Article written by Tuula Rainto, lawyer, Amos Law Firm. You can always call him free of charge on 010 299 5090.
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[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]