Estate Administrator
Who Can Serve as Estate Administrator
The role of estate administrator typically arises naturally: the task falls to the shareholder who has possession of the estate's property at the time of death. In practice, this is often the surviving spouse or a child who lived in the same household as the deceased. The shareholders may also jointly appoint someone else as estate administrator, such as a lawyer. Under the Code of Inheritance, the court may, upon application by shareholders, appoint an estate executor with broader authority than an agreed-upon estate administrator.
Key Duties
The estate administrator's most important duty is to organize the estate inventory (perunkirjoitus) within three months of death. They gather the asset and liability information of the deceased and shareholders, invite the shareholders to the estate inventory proceedings, and ensure the estate inventory deed (perukirja) is properly prepared. Additionally, the estate administrator handles the estate's ongoing affairs: paying bills, managing insurance, and handling any rental agreements.
Legal Responsibilities
The estate administrator has a duty of care toward all shareholders. They may not favour one shareholder at the expense of others, nor make significant decisions without the shareholders' consent. In the joint administration of an estate, all important decisions require the unanimous agreement of the shareholders. Negligence, such as exceeding the estate inventory deadline, may result in liability for damages.
Timeline Obligations
The estate inventory must be completed within three months of death. The estate administrator must apply for an extension from the Tax Administration in writing before the deadline expires, if all the required information cannot be gathered in time. The estate inventory deed must be submitted to the Tax Administration within one month of the estate inventory proceedings. Compliance with these deadlines is the estate administrator's responsibility, and delays may result in a tax penalty.
Frequently asked questions
Who can be appointed as estate administrator?
Anyone can be appointed as estate administrator — either a shareholder of the estate or an external person chosen jointly by the shareholders. Typically, the surviving spouse or an adult child of the deceased takes on the role. In contested estates, the court may appoint an estate executor (pesänselvittäjä), who is usually a lawyer.
What obligations does the estate administrator have?
The estate administrator must manage the estate's assets with care, organize the estate inventory within three months of death, gather the necessary documents, and submit the estate inventory deed to the Tax Administration. They are also responsible for the estate's ongoing affairs, such as paying bills.
Can the estate administrator be changed?
Yes. The shareholders can agree together to change the estate administrator. If no agreement can be reached, any shareholder can apply to the district court for the appointment of an estate executor, in which case the estate administration is transferred to a court-appointed person.
Related terms
A statutory procedure to determine the assets and liabilities of the deceased's estate. Must be held within 3 months of death.
A document prepared during the estate inventory that lists the estate's assets, liabilities, and shareholders.
A legal entity formed by the deceased's assets and liabilities at the time of death.
Persons who have the right to inherit the deceased's property by law or by will.
Read also
Key duties of the estate administrator: estate management, documents, estate inventory, and inheritance distribution. Who can serve as estate administrator?
The estate inventory must be conducted within three months of the deceased's death. Learn about calculating the deadline, consequences, and requesting an extension.
How are bank accounts handled in an estate inventory? Learn about account closure, balance certificates, access rights, and estate bank accounts.