Restrictions on the freedom to dispose of one’s succession by will (reserved portion).
Last update: 10/1/2012
Under Finnish law, the beneficiary becomes joint heir to the extent of his/her reserved portion, even if the deceased has instituted another heir.
The deceased may however stipulate that the reserved portion should be paid in cash. Conversely the forced heir may also request that the reserved portion be paid in cash.
Only the deceased’s descendants (and not spouses or parents) can invoke this regime. The reserved portion is half of the legal share of an inheritance. The forced heir must assert his/her right to a reserved portion within one year from the time he/she becomes aware of the existence of the will.
Detailed information
Is there a reserved portion set aside for heirs? What percentage of the estate does this reserved portion represent? What is its legal nature?
Only the descendants of the deceased may assert a right to a reserved portion. It is half of the statutory inheritance portion (7:1 PK). The legatee may pay the reserved heir the equivalent of his/her reserved portion in cash as compensation (7:5 PK).
Irrespective of the law applicable to the inheritance, the surviving spouse may, if applicable, assert a right to use the last shared home, and the children and the spouse may invoke a right to financial assistance (26:12 PK).
What is the procedure to be followed to assert a right to the reserved portion? What are the time limits?
Forced heirs must assert their right to a reserved portion within 6 months after they become aware of the existence of the will.
Is it possible to renounce the reserved portion?
The heir may renounce the reserved portion by written declaration sent to the deceased. This renunciation is particularly valid if he/she receives adequate compensation (17:1 PK).
