Estate inventory: deadlines, parties and costs

The deadlines: three months and one month

The estate inventory must be held within three months of the date of death. After the meeting the deed must be sent to the Tax Administration within one month. Both deadlines are set by law and apply to every estate: a deed is drawn up even when the deceased had no assets or the estate holds only debts. Once the debts are recorded in the deed, the parties are not personally liable for them. If three months is not enough, an extension is applied for from the Tax Administration before the deadline passes; we explain extensions and the penalties for lateness further on. In practice it pays to start right after the funeral, because ordering the genealogical report is the longest single wait. When we handle both the funeral and the inventory, we order the documents during the funeral arrangements, so the meeting can usually be held well before the deadline.

Who is a party to the estate

The parties to the estate are the deceased's heirs, any universal legatees, and the surviving spouse until the division of marital property or the distribution of the estate has been done. The order of succession decides who the heirs are. The children or their descendants inherit first. If the deceased had no descendants and no will, the spouse inherits alone. Otherwise the parents inherit, then the siblings and their descendants, then the grandparents and their children, that is the deceased's aunts and uncles. Cousins do not inherit. If there are no heirs at all, the property goes to the state. A cohabiting partner is not a party unless named in a will. The deed records every party and their relationship to the deceased. All parties are verifiably invited to the meeting, but attendance is not compulsory, and staying away takes no rights from anyone.

• The children and their descendants
• Universal legatees under a will
• The surviving spouse, until the marital division or the distribution is done
• The parents, then the siblings and their descendants
• The grandparents, then aunts and uncles; cousins do not inherit

The reporter and the two trustees

The deed is signed by the reporter of the estate and two trustees. The reporter is usually the surviving spouse or the child who knows the deceased's finances best; they provide the information on the estate's assets and debts and attest that it is correct. The trustees value the property and confirm the deed with their signatures. The law sets no qualification requirements for trustees, but a party cannot act as one. That is why an outsider is often asked, such as a representative of the funeral home, the bank or a law office. When we handle the inventory, two of our funeral advisers act as trustees, and you need not look for them yourself. The deed also names a contact person, to whom the Tax Administration sends enquiries concerning the estate.

What the deed records

The deed is a list of the deceased's assets and debts at their value on the date of death, and at the same time the basis for inheritance tax. The Tax Administration has no ready form or template; deeds are drawn up by banks, law offices, legal aid offices and funeral homes. Several signed originals are made, because an original is needed at the bank and when registering title to real estate. Only a copy is sent to the Tax Administration, and one copy is enough for every party's inheritance tax. The originals and receipts are kept by the family; receipts must be kept for six years. The deed records at least the following.

• The deceased's details, the parties and their relationship, the reporter, the trustees and the contact person
• The deceased's assets and debts at date-of-death values
• The surviving spouse's assets and debts and whether the spouses had marital right to each other's property
• Whether the surviving spouse retains possession of the shared home
• The will and any claims for a statutory share
• Advances on inheritance and gifts given within the last three years
• Insurance payouts
• A previously deceased spouse's assets and debts, if no marital division or distribution was done

The genealogical report: prices and lead times

An unbroken genealogical report on the deceased is needed from the age of 15 to the date of death. It shows spouses and children, so the parties can be established from it. For the period of membership in the Evangelical Lutheran Church the report is ordered from one regional register and costs 75 euros since 2025. For the period when the deceased did not belong to the church, extracts are ordered from the Digital and Population Data Services Agency: 40 euros per document from the electronic population register and 80 euros from digitised material. The agency's processing time is between 5 and 6 weeks, so the report must be ordered at once if the three-month deadline is to be met without an extension. For living parties an extract with personal data is enough. The fees for the report are estate costs and are deducted in the deed. When we handle the inventory, we order every certificate at the very start of the assignment.

The other documents to gather

Besides the genealogical report, the deed needs documents on the property, the debts and the deductible costs. Banks issue a balance certificate for the date of death once they have been told of the death; we request the certificates from every bank on your behalf. Real estate documents come from the National Land Survey and housing share details from the property manager. The other documents we ask you for as photos or scans, and nothing needs to be delivered as an original. Funeral costs are deductible, so every invoice connected with the funeral is worth keeping.

• Balance certificates from every bank for the date of death
• The value of securities and funds on the date of death
• The property manager's certificate for housing company shares
• For real estate the title certificate, the register extract and the encumbrance certificate from the National Land Survey
• Statements from the insurance company and the pension provider
• The will, any prenuptial agreement and the deed of a previously deceased spouse
• Loan balances and unpaid bills
• The funeral invoices: funeral home, parish, flowers, memorial gathering and gravestone

The inventory meeting

Once the documents are in, we prepare the deed in full and agree the time of the meeting. The parties are verifiably invited, but no one is obliged to attend, and an absent party loses no rights. The meeting can be held at our office on Annankatu, in your home or remotely, which suits especially when the parties live in different towns or abroad. With the deed prepared in advance, the meeting takes under an hour: we go through the deed point by point, the reporter attests that the information is correct, the surviving spouse states their position on keeping the shared home, and any claims for a statutory share are recorded. Signatures are given electronically with strong authentication or on paper. The service is available in Finnish and Swedish.

Filing with the Tax Administration, extensions and penalties

The deed is filed with the Tax Administration within one month of the meeting, either in OmaVero or by post. If three months is not enough, for example because the genealogical report is delayed, an extension is applied for before the deadline passes. The application is made in OmaVero (Veroasiat, Perintöveron toiminnot, Lisäaika) or on paper form 3626 to Verohallinto, Perintö- ja lahjaverotus, PL 760, 00052 VERO. If the last day of the deadline falls on a weekend or holiday, the application is filed on the preceding working day. An extension is granted only for a justified reason, and even after it the deed must be filed within one month of the meeting. A deed filed up to 60 days late carries a late fee of 50 euros. Filed later or not at all, it leads to a tax increase, usually 10 percent of the increased tax and at least 75 euros; where tax is assessed by estimate the increase is 25 percent. The extension application is included in our service, and we track the deadline for you.

Inheritance tax and the estate after the meeting

The Tax Administration assesses inheritance tax on the basis of the deed, and each party receives their own tax decision. One copy of the deed is enough for every party's taxation. After filing, the administration of the estate begins: bank matters are handled in the estate's name, and the original deed is needed at the bank and when registering title to real estate. The parties can distribute the estate among themselves by agreement; if they cannot agree, the district court can appoint an estate distributor. After the distribution the estate can be closed. The deed and the receipts should be kept carefully, because the Tax Administration can ask to see the receipts for six years. Bank, insurance and contract matters in the everyday life of the estate are covered in the guide Practical matters of the estate.

Our service, when a lawyer is needed, and the next step

With us the estate inventory costs 590 euros for funeral clients and 690 euros as a separate service. The price is fixed and covers obtaining the documents, drafting the deed, two trustees, the meeting and the filing with the Tax Administration, plus an extension application when needed. The funeral client's price is lower because the deceased's details, the parties and the funeral invoices are already gathered from the funeral arrangements. A lawyer is not compulsory, but we recommend a law office if the parties disagree about the will or the distribution, or if the estate holds assets abroad; in that case we gather the documents for the deed and guide you onward. Call 09 6129 890 or book a planning visit at Annankatu 12; the visit is free of charge. The inventory can also be done in your home or entirely remotely.

Frequently asked questions