Inheritance Uufruct query

[treequest]

Hallo,

I have inherited an estate in Finland made up of half a property and cash.
As the estate is under usufruct, my query is - wdoes anyone know if would I have a legal guarantee for for the cash assets? So that in the future the sum is guaranteed, as this would be good for my children to have.


Thank you in advance for your advice.

[FinnGuyHelsinki]

Hallo,

I have inherited an estate in Finland made up of half a property and cash.
As the estate is under usufruct, my query is - wdoes anyone know if would I have a legal guarantee for for the cash assets? So that in the future the sum is guaranteed, as this would be good for my children to have.


Thank you in advance for your advice.

The estate decides what it does with its assets, including the cash. Should it want to spend the cash for example to renovate the property or cover other costs the estate has, when it's gone it's gone. Of course the estate can also decide to distribute cash to its beneficiaries. If you want to save money for your children, try to agree to have (at least the majority of) the estate cash distributed and save/invest it yourself. It makes sense to keep some cash in the estate, to cover any running costs there might be (property tax, bank fees,...).

[treequest]

Thank you for your help. My replies are not being approved?

[treequest]

Thank you for your reply.

I was told that the usufruct is over both the property and the cash. Does the usufruct only cover property or the both property and cash?

I have been told that the usufructary does not want to distribute any cash, therefore I am looking for a way to safeguard the cash amount for the future.

Sorry - if you have already said and i am misunderstanding.

[treequest]

good afternoon,

If anyone could help I would be grateful. In usufruct does the widower choose what the lawful share should be or can the heir decide?


Thank you

[FinnGuyHelsinki]

good afternoon,

If anyone could help I would be grateful. In usufruct does the widower choose what the lawful share should be or can the heir decide?

Thank you

There are beneficiaries to the estate and the usufructuary. The estate is divded among the beneficiaries (one of which may be, but doesn't have to be, the usufructuary). All beneficiaries are entitled to their share of the estate, no single beneficiary can keep others from getting theirs. It's easiest, and cheapest for the estate, if the beneficiaries can reach an agreement by themselves how to divide the estate. If you want your share out of the estate but others won't agree to that, you'll have to apply for a court appointed executor of the will. The usufruct is still in effect, though.

[treequest]

Thank you for the reply.


I understand that as the beneficary and the only heir I can ask for the lawful share - which even usufruct in a will can not prevent. Who chooses how to pay it out - i/e in cash or property? Does the estate administrator decide or the usufructary?

I think i'll have to look up a solicitor as its becoming uneccesarily complicated.

[FinnGuyHelsinki]

Thank you for the reply.


I understand that as the beneficary and the only heir I can ask for the lawful share - which even usufruct in a will can not prevent. Who chooses how to pay it out - i/e in cash or property? Does the estate administrator decide or the usufructary?

I think i'll have to look up a solicitor as its becoming uneccesarily complicated.

If you are the only heir, i.e. the only beneficiary of the estate, you don't have to ask anyone anything (other than to possibly consult how to go about the practicalities, e.g., an inheritance lawyer, also your bank may be able to provide some assistance), the whole estate is already yours. You have to honor the usufruct, though, for example, you cannot sell a property where the usufructuary is allowed to live in.

[treequest]

Thank you for your help.

[Stephan1992]

You can check chapter 12 of the code of inheritance, it handles right of use.

Also available in English this one, on Finlex.fi

https://finlex.fi/en/laki/kaannokset/1965/en19650040

[treequest]

Thank you. That was very useful.