Kuolinpesiä

Kuolinpesiä refers to the estate of a deceased person in Finnish law. Upon a person's death, their assets and liabilities become part of the kuolinpesä. This entity is a temporary legal construct that exists until the estate is settled and distributed among the heirs. The assets can include real estate, bank accounts, investments, personal belongings, and any other property owned by the deceased. Liabilities may include debts, mortgages, and funeral expenses.

The administration of a kuolinpesä typically involves several steps. First, an inventory of the deceased's assets and liabilities must be compiled. This is often done by one or more heirs or a designated executor. Following the inventory, a formal division of the estate, known as a perinnönjako, takes place. This process determines how the assets and liabilities are distributed among the beneficiaries according to the deceased's will or, in its absence, by statutory inheritance rules.

Heirs become co-owners of the kuolinpesä from the moment of death. They share both the rights and obligations associated with the estate. Until the division is finalized, the heirs are jointly responsible for managing the estate, which may include paying ongoing expenses or making decisions about property. It is important to note that if the debts of the deceased exceed the value of their assets, the heirs are generally not personally liable for these debts beyond the value of the inherited estate, provided they have not accepted the inheritance unconditionally. The process of settling a kuolinpesä can vary in complexity depending on the size and nature of the estate.