Estate inventory

When a person passes away, an estate inventory must be prepared in accordance with the law.

The estate inventory serves as an official document for the estate and is intended to show which individuals or organizations are entitled to inherit from the deceased, as well as which assets and liabilities existed in the estate on the date of death. Without an estate inventory, the inheritance cannot be distributed, and the deceased person’s bank accounts and other assets cannot be closed or sold.

In some cases, a death estate notification may be prepared instead of an estate inventory. A death estate notification is prepared by the municipality and may be applicable if the deceased person’s assets do not cover the existing debts. There are certain exceptions where a death estate notification cannot be used even if the debts exceed the assets, for example if there is real property or site leasehold rights included in the estate.

A lawyer, estate administrator, or another authorized person is usually responsible for preparing the estate inventory after gathering the necessary information from the heirs.

Initially, all information to be included in the estate inventory must be collected. When you engage our services, we usually begin with a meeting or consultation where we review the information already available and determine what additional information or documentation is required. Once the information and supporting documents have been collected, an estate inventory proceeding is held to which all heirs and any beneficiaries under a will are summoned. There is no requirement for them to attend, but they must be invited to the proceeding.

During the proceeding, the deceased person’s assets and liabilities are reviewed, along with any other documents or information relating to the estate, such as promissory notes, prenuptial agreements, certain insurance policies, or similar documents.

The estate inventory document is then prepared and signed by two administrators, who also review and confirm that the information has been correctly recorded in the estate inventory document. The administrators may not be beneficiaries of the estate. If you engage us to assist with the estate inventory, two representatives from our firm will act as administrators and ensure that everything is correctly documented.

Once the estate inventory has been completed and reviewed, it must be signed by a declarant. The declarant should be the person most familiar with the estate and its assets and liabilities and is the individual who has provided the information during the estate inventory proceeding. After the estate inventory has been signed, it must be submitted to the Swedish Tax Agency for registration. This must be done no later than four months after the death. It is important to include the correct supporting documentation to avoid delays in processing. The processing time at the Swedish Tax Agency varies depending on the number of deaths, workload, and season, but you should generally expect a processing time of at least six to eight weeks from the date the estate inventory is received by the agency.

As soon as the estate inventory has been registered, it is returned to the person who submitted it. At that point, it becomes possible to begin winding up the estate, for example through the sale of property, furniture, or securities, the closing of accounts, and similar measures, after which an estate distribution can finally be prepared.

We can assist you with all parts of the process or only the parts you require. Contact us and we will tailor a solution that suits your specific needs.

A supplementary estate inventory becomes necessary when something has been omitted from the original estate inventory document. This may, for example, involve a will that is discovered at a later stage or an asset that was previously unknown. A supplementary estate inventory is carried out in the same way as a regular estate inventory and follows the same process. It should be prepared as soon as an error or omission in the original estate inventory is discovered.

It is possible to prepare an estate inventory yourself, but it is important to ensure that everything is recorded correctly and that the correct parties are summoned to the estate inventory proceeding. If something is incorrect, there is a significant risk that the Swedish Tax Agency will not approve the estate inventory and that the entire process will have to be redone from the beginning.

There is no checklist suitable for every estate, but some important points to consider are:

1. Is there a will or any other legal document that may affect who should be summoned or how the inheritance should be distributed?
2. Which individuals must be summoned to the estate inventory proceeding?
3. What assets and liabilities exist, and how should they be recorded and valued to ensure accuracy?
4. Are there any additional details that should be included in the estate inventory to ensure correctness or to simplify matters later on, for example insurance policies with beneficiary clauses that may affect inheritance following the surviving cohabiting partner or spouse, the assets and liabilities of an entitled cohabiting partner or spouse, or information regarding advances on inheritance?
5. Are there any taxes or deferred tax liabilities relating to the deceased?

Who qualifies as a beneficiary of an estate depends on the deceased person’s family circumstances, whether the person was married, and whether there was a will. A beneficiary of an estate may be a spouse, children from a previous relationship, other heirs such as nieces or nephews, or someone entitled to inherit under the deceased person’s will.

It is important to know who the beneficiaries of the estate are, what this means, and who must be summoned to the estate inventory proceeding.

No, you can never inherit a debt that existed when a person passed away. However, you may choose to assume a debt, such as a mortgage in connection with taking over the deceased person’s home or a car loan in connection with taking over the deceased person’s vehicle. Such a transfer always requires that you wish to assume the debt and that the bank holding the loan approves you as the new borrower. The assumed debt will then be deducted from the inheritance to which you are entitled.