Hi folk
Any ideas about what the proceedure here actually is?
My father-in-law died with lots of liabilities and very few assets. The assets can cover all liabilities but it would be very difficult to liquidate the assets.
Kela and social services have offered to cover some of the cost of the funeral and a few liabilities (talking lunch money figures).
Has anyone had any experience as to what extents Kela and social services cover, considering that at this stage they don't have a firm picture of the assets or liabilities or even inheritance tax? Should we be seeking to clear his tax debt, housing debt, personal debt etc via Kela etc then pick this up as repayment after clearing of perukirja?
Thanks in advance!
Perukirjaand Kela/Social services : any experiences?
Re: Perukirjaand Kela/Social services : any experiences?
I think that as long as all assets can cover all liabilities, nothing will be covered by social office. Unless the assets are not enough to cover for the funeral, then social office can cover some of these.
If social office already offered to pay some costs, apparently the assets are not enough to cover the funeral. I believe Social office can pay for the funeral and any left over rent of the last month, but I guess that is about it.
In general you will have to liquidate all assets and use this to pay for all open debts / bills. If this is not enough or takes too long, you can petition the court for the appointment of an administrator who will take care of this and he can also can enter the estate into a bankruptcy if the assets do not cover all costs. (best option I think)
The Administrator appointed by the court will be paid first for his job out of the assets, and after that the creditors.
In the end the possible shareholders will not get anything, but there will be no tax to be paid as well (which is zero when the inheritance per shareholder is below 20 000€ anyway).
In this situation no restitution to Social office needs to be made either.
Main thing to do first is ask all from all creditors more time to pay for the open debts, to prevent them from getting extra costs on it. Than have the perukirja made at the oikeusaputoimisto, at the same petition the court to appoint an administrator (lawyer maybe also from the oikeusaputoimisto) to settle the estate and possibly enter it into bankruptcy. done.. no distribution needed no tax payments needed.
my condolences by the way..
good luck
If social office already offered to pay some costs, apparently the assets are not enough to cover the funeral. I believe Social office can pay for the funeral and any left over rent of the last month, but I guess that is about it.
In general you will have to liquidate all assets and use this to pay for all open debts / bills. If this is not enough or takes too long, you can petition the court for the appointment of an administrator who will take care of this and he can also can enter the estate into a bankruptcy if the assets do not cover all costs. (best option I think)
The Administrator appointed by the court will be paid first for his job out of the assets, and after that the creditors.
In the end the possible shareholders will not get anything, but there will be no tax to be paid as well (which is zero when the inheritance per shareholder is below 20 000€ anyway).
In this situation no restitution to Social office needs to be made either.
Main thing to do first is ask all from all creditors more time to pay for the open debts, to prevent them from getting extra costs on it. Than have the perukirja made at the oikeusaputoimisto, at the same petition the court to appoint an administrator (lawyer maybe also from the oikeusaputoimisto) to settle the estate and possibly enter it into bankruptcy. done.. no distribution needed no tax payments needed.
my condolences by the way..
good luck
If god would give us the source code, we could change the world
