In a general will, the testator designates all or a certain fraction of his or her property to a specific person. In contrast, in a general testament, the testator makes a general provision for his or her estate without making a will in respect of a specific item of property. This contrasts with a specific will, or legacy, which only applies to a specific object (either movable or immovable property).
Although Wills can be divided into general and special wills, the testator can, for example, make a legacy to one heir and the rest of the estate to another in a general will, all in one and the same testament. In other words, the same will may contain different testamentary dispositions, some of which may be general wills and others legacies.
In a general will, the testator disposes of all his or her property for the benefit of a person or persons. A general will applies to all or part of the testator's property, and not to any particular object or sum of money. A general will is therefore a fairly broad means of disposing of property.
However, a general will must not infringe the legal rights of the heirs. However, if a general will infringes the legal title of the heirs at law, the will is ineffective in that respect.
A will must be made For information to the testator's legal heirs before the will becomes final.
What is a universal beneficiary?
Finnish law, the Inheritance Code, divides wills into general and special wills on the basis of the status of the beneficiary. A general will gives the testator a status similar to that of a legal heir. The beneficiary is also a partner in the estate and participates with the other partners in the estate (e.g. the widow and the heirs at law) in decisions concerning the estate. Decisions in the estate must be taken unanimously.
What is a special will?
The property provided for by a special will or legacy concerns only a specific object (either movable or immovable property) or a specific item of property.
The beneficiary of a special will is not a partner in the estate and does not participate in the administration of the estate. The beneficiary of a special testament receives an object or a sum of money specified in the will and is given it from the head of the estate, i.e. before the distribution of the estate. If such property is no longer in the testator's estate at the time of death, the legacy cannot be executed.
Is the beneficiary of a general will a partner in the estate?
The beneficiary of a general will is also a partner in the estate and participates with the other partners in the estate (for example, the widow and her heirs) in decisions concerning the estate. Decisions in the estate must be taken unanimously.
What is the difference between a testament of tenure and a testament of ownership?
Often spouses leave by mutual will have a right of possession over property to each other.
In Finland, however, no property can remain in a non-owned state. In other words, if someone acquires the right of possession (such as a widow or widower), the ownership of the property passes to someone else. The person who gets the title (the partners in the estate) has to pay inheritance tax. No inheritance tax is payable by the holder of the right of administration.
The right of possession reduces inheritance taxes, as the holder of the right of possession cannot take possession of the property until the right of possession has expired. Read more here.
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.
