Pesänhoitaja

Pesänhoitaja is a Finnish legal term for a person appointed by a court to administer and safeguard an estate during probate or bankruptcy. The role is to ensure orderly management of assets, protect against deterioration or loss, and oversee the lawful settlement of debts and distributions to heirs or creditors.

In the context of inheritance, pesänhoitaja is appointed in probate proceedings by the district court when the estate needs management before heirs are determined or when professional handling is required. The court selects a suitable person, commonly a lawyer, a licensed estate administrator, or another competent professional. The pesänhoitaja acts independently and impartially, balancing the interests of heirs and creditors. Its duties include taking inventory of assets, securing property, collecting receivables, paying debts and ongoing expenses, managing legal matters related to the estate, and preparing an account. The estate is distributed according to a will or, in the absence of a will, according to statutory succession after debts and costs are settled. The pesänhoitaja must report to the court and can be replaced if necessary for reasons such as misconduct or incapacity. The tenure ends when the estate is fully settled and the accounts are approved.

In bankruptcy proceedings, the pesänhoitaja administers the bankruptcy estate, collects assets, realizes them, and distributes proceeds to creditors in the prescribed order, while handling litigation and other matters relevant to the estate.

Compensation typically comes from the estate, and the pesänhoitaja may be held liable for mismanagement or breach of duties.