pesänhoitotilit

Pesänhoitotilit are accounts maintained by a pesänhoitaja, or estate administrator, in Finnish probate law. When a person dies, their assets and liabilities are typically managed by an estate administrator. This administrator is responsible for inventorying the estate, paying debts, and distributing the remaining assets to the heirs. To facilitate this process, the administrator often opens one or more pesänhoitotilit.

These accounts serve as the central hub for all financial transactions related to the deceased's estate. Funds belonging to the estate are deposited into these accounts, and payments for debts, funeral expenses, administrative fees, and other estate-related costs are made from them. The administrator must keep meticulous records of all transactions to ensure transparency and accountability to the heirs and any creditors.

The use of pesänhoitotilit is crucial for maintaining the integrity of the estate's finances during the probate process. It segregates the deceased's assets from the administrator's personal funds, preventing commingling and potential conflicts of interest. Upon completion of the estate administration, the administrator will close the pesänhoitotilit and provide a final accounting to the heirs, detailing how the estate's funds were managed. In some cases, the court may appoint a pesänhoitaja if the heirs cannot agree on an administrator or if there are complex estate matters.