Final Will

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redberry
Posts: 38
Joined: Wed Mar 22, 2006 9:28 pm

Final Will

Post by redberry » Mon May 04, 2020 10:42 am

Hi,

Is it compulsary in Finland to have a Will in order for the child or spouse to get the deceased property? I recently came to know about a tragedy happened in USA, that a child's parents died in an accident and the child became homeless as the parents never had any written Will to whom their property goes to. Does this will thing apply also here? If yes who would be the right people to contact for writing the Will?



Final Will

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FinnGuyHelsinki
Posts: 1078
Joined: Sun Nov 08, 2009 8:52 pm

Re: Final Will

Post by FinnGuyHelsinki » Mon May 04, 2020 11:04 am

redberry wrote:
Mon May 04, 2020 10:42 am
Hi,

Is it compulsary in Finland to have a Will in order for the child or spouse to get the deceased property? I recently came to know about a tragedy happened in USA, that a child's parents died in an accident and the child became homeless as the parents never had any written Will to whom their property goes to. Does this will thing apply also here? If yes who would be the right people to contact for writing the Will?
No, there's no legal requirement to have a will, the inheritance order*) applies anyway.

On a related note, one's own children (or grand-children, if none of the children are no longer alive) also have a legally guaranteed part of the inheritance, which is half of what they would have gotten without a will, even if the will states otherwise. E.g. if the deceased has two children and the will states that everything goes to someone else, each of the children is entitled to 1/4 of the inheritance (as the inheritance would have been split in half between the children without a will).

*) children, grand-children, spouse, parents, (other) children of parents, (other) grandchildren of parents, grand-parents

Shenz
Posts: 15
Joined: Sun Oct 30, 2016 9:06 pm

Re: Final Will

Post by Shenz » Tue May 05, 2020 7:40 pm

One general thing I would like to add as a parent of 2 children. Please think about what should happen with your children as long as they are not adults in case both parents die. I know many parents who have never ever thought about it. We made a will and in case both of us (=parents) die somebody will take care of the financial part and another one for the care of the children. I believe it is in the importance of your children, I do not want them to be part of a fight of who will take care of the children.

FinlandGirl
Posts: 401
Joined: Sat Nov 09, 2019 10:43 am

Re: Final Will

Post by FinlandGirl » Tue May 05, 2020 8:40 pm

Shenz wrote:
Tue May 05, 2020 7:40 pm
One general thing I would like to add as a parent of 2 children. Please think about what should happen with your children as long as they are not adults in case both parents die. I know many parents who have never ever thought about it.
It is good that you have covered this case by getting agreement regarding who would be both able and willing to care for your children.
Usually finding anyone who would agree to that is the problem, rarely are there too many people.
Shenz wrote:
Tue May 05, 2020 7:40 pm
We made a will and in case both of us (=parents) die somebody will take care of the financial part and another one for the care of the children. I believe it is in the importance of your children, I do not want them to be part of a fight of who will take care of the children.
The legal binding of such a will is limited.
Any custody decision would be based on what is best for the children, taking the opinions of the children into account.
If teenage children express a strong wish for a reasonable option that is possible, this will likely void any contradicting wishes in your will.

FinnGuyHelsinki
Posts: 1078
Joined: Sun Nov 08, 2009 8:52 pm

Re: Final Will

Post by FinnGuyHelsinki » Wed May 06, 2020 8:45 am

More information on wills in general (in Finnish): https://www.is.fi/kotimaa/art-2000006497911.html

latikajamal
Posts: 46
Joined: Wed Sep 06, 2017 10:33 am

Re: Final Will

Post by latikajamal » Wed May 06, 2020 4:00 pm

Just want to share this.
It's hard to talk about this final will when my husband and i had a conversation about this. But in this situation we are facing now about the virus, this really need to be discuss.
He wrote a testament with a signed of his 2friends and him.
He wrote it after our marriage 2017, He explained to me that all his properties,(apartment, summerhouse, farmhouse, company and apartment in GranCanaria) money in the banks under his name will be transfer all to his wife and 1 son.
He also stated there that the cars( he had a lot of different cars, motorcycles, tractors,big machines) he gave the authority to his friend to sell those and he will get 10% of the money and the rest will be given to his wife and son.
That's what he wrote.

His half sister told him, your wife will not gonna get anything even you have a testament, like what happened to me. But she can live with the properties with your son.
My husband told me that, it's not true.
When it comes to this testament conversation, i really don't feel comfortable talking about that, because i can't see myself alone here in this country, not knowing anything.
I don't want to raise my son alone. I know its really a lot to think but that money soon will be lost if i don't know anything only to spend it.(2017 i came here and up to now I'm still at home taking care of my 2yrs and 2weeks old son, when he turn 3, that's the time i can start to study the language and explore the life here, because we will send him to daycare.
It's hard in this country that everything government can see. If it's only possible to put whatever amount in my son's bank account and not taxable. But nope the government need to get tax from that money even in your own child.)
When my son started to get money from kela. That money is coming to my account plus the mother's benefits that i get until he turned 3. I can only transfer 138€ every month to his piggy bank(danske bank account under his name) because it's taxable when it reach 5k€ in 3yrs. So we decided to put 4999€ in every 3yrs. My husband already put his 4999€ in our son's account and after that 3yrs he will start again as his share and my share is coming every month 138€.

The first time i had a vacation here in Finland, i saw a testament, i saw my name there, 5 more names and some charities..i dont understand what it means because it was written swedish, but i saw my name with 500k€ and when i shown it to him. He said, that i did that even we have not met yet. I just felt too bad that time and i dont want the government to take everything so i put names there so if ever i die alone, my lawyer will search this names with address to give it to them.i was so shocked that even he's not sure if im the one i still have some portion of it and the highest money in the lists. But he burned that old testament when i shown it to him.

This morning he opened again about this testament thing, that it bothers him a lot what his half sisters told to him that i cannot get anything but i can stay with our properties with my son. He said you will get everything and our son that is for sure. To be honest, I'm not worried about this because if my son will gonna get it I'm ok with that, and i can manage, he already gave a lot for me, he already arranged a lot for me.

I told him that i dont feel comfortable talking about this because of our son, but if this scary situation will happen, i will surely go back to my home country, i cannot survive here alone with your son, knowing nothing. i just go back to my comfort zone because i get used to a simple life there and we can manage.
but he told me that do not do that to your son, let him study here and decide in the future where he wants to live. (He had his dual citizenship) Don't take that good life and safe environment to him because of your thinking you cannot live here alone. you can live here and you can manage that i can tell you for sure.
a lot of "what if"
what if ...its me, or
what if my son will live here alone because were both gone. Oh God,It's so painful to think.
Much better to think we're all gone together.
But i had a strong faith and believe to God that everything will be ok. Everything happens for a reason and everything will be back to normal life again 🙏

FinlandGirl
Posts: 401
Joined: Sat Nov 09, 2019 10:43 am

Re: Final Will

Post by FinlandGirl » Wed May 06, 2020 6:33 pm

latikajamal wrote:
Wed May 06, 2020 4:00 pm
His half sister told him, your wife will not gonna get anything even you have a testament,
This is not true, he can bequeath half his property to whomever he wants to.

From a taxation point of view marital property might be a better way to transfer property to you since it avoids inheritance tax.

He has plenty of property and a company, he should know where he can find a lawyer.


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