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The concept of trusts as seen in Common Law countries does not exist in the same form in Finland, including in the city of Tampere. Instead, asset management and inheritance matters are primarily handled through avenues like foundations, wills, contract law, and family law. However, the concept of ‘trustlike’ arrangements within contract and family law can be utilised for asset management, estate planning, and in certain business agreements.
Even though the concept of trusts as understood in English-speaking countries doesn't exactly exist in Finland, you may need a lawyer when you want a 'trustlike' arrangement, or need to manage and distribute your assets, handle inheritance matters or you're involved in business agreements. Lawyers can help in providing necessary legal counsel to understand complex Finnish laws related to asset management, wills, inheritance, and contract laws.
In lieu of Trusts, the Finnish legal system relies on foundations (säätiöt) for long term asset management with a specified purpose. Wills and probate are covered under the Finnish Inheritance Code. Contractual arrangements also allow for some trust-like issues to be sorted out. Finnish family law also provides for some avenues of asset management and inheritance planning.
There is no direct equivalent of trusts in Finland. However similar arrangements can be made through foundations, wills, contract law, and family law.
In Finland, foundations are usually used for long term asset management. Consulting with a legal expert can help establish a foundation.
Inheritance issues are governed by the Finnish Inheritance Code. When a person dies, the estate passes immediately and directly to the heirs.
While not identical to a trust, contractual arrangements can be used to sort out complex business agreements with a trust-like structure.
Municipal legal aid offices, private solicitors, the Finnish Bar Association, and non-profit organizations can provide legal help regarding asset management, wills, and inheritance.
The Finnish Bar Association provides a platform for trusted lawyers for all areas of law practice. The Ministry of Justice, Finland may also provide additional resources and information. Legal Clinics, usually driven by Universities like the University of Tampere, may provide free legal advice in some cases.
If you require legal assistance in matters of asset management, inheritance, wills, or ‘trustlike’ arrangements in Finland, consider reaching out to a local lawyer who specializes in these areas. Remember to gather all relevant financial and legal documents before your consultation and prepare a list of your queries to make the most out of your experience.
