Death in the family
There is a lot to deal with when you lose someone close
Families mourning the loss of a loved one have a lot to deal with: organising the funeral, paying the death estate’s daily bills and attending to the deceased person’s estate. An estate inventory has to be made within three months of the death. The estate inventory deed is a list of all the distributees of the estate and the deceased person’s assets and debts. Often the task of preparing an estate inventory is given to a lawyer or other specialist.
If you are attending to a deceased person’s business at our branch, you should bring an extract from the population register with their personal information.
Instructions to the administrator of a deceased person’s estate
Nordea receives notices of death from the Population Register Centre. However, it is a good idea for the deceased person’s family to notify us of their death as soon as possible. We will send you a balance statement showing the assets of the deceased person for the purpose of preparing the estate inventory.
It is in the interest of all the distributees of the estate that the documents related to the estate are examined carefully. For this reason, Nordea has established a centralised service unit to take care of the examination. Please deliver all the documents of the death estate to us in one batch after the estate inventory has been prepared.
Handling banking matters before the estate inventory
When you need to pay bills addressed to the death estate, one distributee alone can do this at any Nordea branch. The account and payment service agreements the deceased person had made, including any automatic payment service agreements and direct payment authorisations, will remain in force.
The deceased person’s Nordea ATM cards and/or payment cards and parallel cards can no longer be used. The Netbank access codes and usage rights to the accounts of the deceased person are also cancelled.
Things to note when filing a life insurance claim
If the deceased person had life insurance, we will send a letter about it to the address of the death estate. Please note that insurance indemnity is not paid automatically, as a claim must first be submitted to the insurance company. You can find the claims form and more information about submitting a claim hereOpens new window (in Finnish).
You can submit a claim for indemnity before the estate inventory is prepared. Usually you are required to attach a copy of the extract from the population register (which indicates the deceased person’s family relations) obtained for the estate inventory. The insurance indemnity will be distributed and paid in accordance with the insurance policy’s beneficiary clause.
Power of attorney
You need a specified power of attorney to manage the death estate’s banking. The distributees can authorise one person to do the estate's banking by a power of attorney. Nordea needs a valid deed of partition and/or deed of distribution in order to register book-entries received in the distribution to the book-entry accounts of the distributees. A valid deed of distribution is also necessary when collateral inherited by a distributee is pledged as security.
In the event of a death in the family, you will have so many things to organise and worry about. That is why we at Nordea want to do everything we can to make handling the deceased person’s banking matters as smooth and flexible as possible.