Puheenjohtajan nuija lakikirjan päällä

Legal services for forest owners

Owning forest involves a surprising number of legal issues, and knowing them will save you both time and money.

The Group member banks have available the most extensive network of lawyers in Finland, also familiar with the judicial needs of the forest owners.

The Group's legal services can be commissioned to manage the generational shift of forest estate. They will advise you on the most sensible solution and handle the documents related to the handover. Significant tax benefits can be obtained almost without exception by a well-planned generational shift.

In the generational shift of a forest estate, the legal services will obtain a valuation of the forest estate. They will also prepare the draft documents, the final documents, apply for preliminary rulings from the tax authority, and handles the registration of the title and mortgages. The gift tax return can also be prepared on behalf of the customer.

A testament is one way of arranging the forest ownership. In a testament, the forest owner can prescribe to whom the property is transferred after his or her death. In the testament, the property inherited by a child can be protected to remain in the family regardless of any divorces of the children.

A power of attorney may be necessary, if you suddenly fall seriously ill or your health is otherwise deteriorating. A power of attorney is a written authorisation that decides who will manage the interests of the person who issued the authorisation as his or her capacity deteriorates.

Essential questions regarding a generational shift include:

  • Is it most sensible to gift the forest estate to the heirs or to sell it?
  • Should I retain the right of possession to my forest estate?
  • Should I transfer the entire estate to one heir, or should it be divided?
  • What if I do not want to give up the forest estate, but do want to donate income from the forest?

Make use of the legal expertise of Group member banks and ask for more details from your own OP bank.