Frequently asked questions about guardianship 

Any money deposited in a minor’s bank account are funds that have been transferred to the minor as a gift. They are the minor’s funds and cannot be taken back by the parents at a later date, even if the money was previously donated by them. 

The same applies to other property donated to a minor. 

As a rule, a parent is responsible for their child's maintenance with the parent’s own funds. Any money deposited in the minor’s account as savings may be used for the minor’s maintenance only in the event that the parent's maintenance capacity is reduced. A minor is never required to participate in the maintenance of their parents or other family members. 

The child benefit is paid to the parent as compensation for the child’s living costs.  

If the child benefit is deposited in the child’s bank account or invested in the child’s name, it becomes the child’s property. 

An orphan’s pension is paid to a child under the age of 18 in the even that they lose their guardians. This pension may be used for their living costs.  
If the pension as a whole is spent on living costs, it is possible to direct the pension income directly to the parent’s account. Otherwise, they must be deposited in the minor’s account.  

Receiving an orphan’s pension does not remove the parent’s maintenance obligation.  

A minor who has reached the age of 15 can decide on how they will use their earnings, i.e. the property they have earned through their work. For example, they can decide on how to use the salary they receive from their summer job.

As a rule, the parent is responsible for the child’s maintenance and expenses arising from their personal needs, such as housing, clothing, food, hygiene, education, ordinary hobby expenses, and health care. In general, the property of a minor cannot be used for these expenses unless the parent’s maintenance capacity is reduced.  

At your discretion, the minor’s funds may  

• be used for reasonable purchases (e.g. a computer or moped) and reasonable expenses (e.g. hobbies) that do not fall within your maintenance responsibility. We may request clarifications on these purchases and expenses, so remember to keep your receipts.  
• be transferred to the minor’s use for purposes related to their best interests and age. 
• be used to the degree of their share of ownership, for example to pay the necessary ownership-related renovation costs. Even in this case, remember to keep any documentation and receipts and provide an account of the minor’s share in the annual statement, should you be required to submit one. 

As a rule, a guardian cannot borrow a minor’s funds. However, if the borrowing is justified and made with the minor’s interests in mind, the guardian must apply for a substitute. The substitute will consider whether borrowing the funds will serve the minor’s interests. In addition, they will negotiate the terms and conditions of the loan with the guardian, who will be required to pay interest on the loan and deposit a security.  

After this, the substitute will seek our permission for the action. The permit decision is subject to a fee. 

Read more about applying for a substitute. 

The minor must be registered as the owner of the vehicle, since the vehicle was purchased with the minor’s funds.  

If the minor does not have the right to drive, Traficom must be informed of the holder using the vehicle who has the right to drive (e.g. the guardian). 

The insurance compensation is the property of the minor and is paid to a bank account in their name. If the minor does not have their own bank account, one must be opened for them so that the insurance compensation can be deposited in their name. In other words, the compensation cannot be deposited in the guardian’s account. 

If you renounce your inheritance, you will be replaced by your direct heirs, such as your children.  

The inheritance becomes the property of the child, and this property must be managed in the same way as any other property owned by a minor – carefully, systematically and with the minor’s interests at the forefront. In other words, the inheritance cannot be used to pay for any expenses belonging to, for example, an individual family member or the entire family. 

A guardian of a minor child may only be released from their duties as guardian for a significant reason. 

In certain situations, we may submit an application to the District Court proposing the release of the guardian and the appointment of a new guardian. This may occur when, for example, the guardian has  

• used the minor’s funds for their own or someone else’s needs  
• neglected to submit the annual statement.  

The court will hear and issue a decision on the matter. The court may release the guardian from their duties if  

• the guardian proves incapable or unsuitable for the task 
• there is another special reason for the release.  

A parent acting as the guardian of a minor child may also request that they be released from their guardianship duties. However, they can be released only if there is a special reason for doing so. This type of reason may be, for example, the parent’s deteriorated state of health. However, displaying a lack of interest in carrying out the duties does not constitute a sufficient reason. 

If a minor child has two persons who have custody of them and thus two guardians, the guardians are jointly responsible for the management of the minor’s property. For example, they both sign any applications, notifications and account forms.  

However, one parent can authorise the other to perform their joint guardianship duties, such as preparing the annual statement. In practice, the authorisation can be made with a power of attorney. However, this does not remove the responsibility of the guardian who granted their authorisation. 

The guardian of a minor is not entitled to charge this type of fee. 

However, it is possible that the guardian’s duties may incur expenses for which they are entitled to compensation from the minor’s funds. Compensation may only be charged for expenses incurred in the management of the minor’s property or financial affairs, and not for expenses incurred from their parental duties. 

We will remove the entry from the register when we have decided, on the basis of a notification, that the value of the minor’s property has been permanently reduced to EUR 15,000 or less and we have approved this figure. The guardian can inform us by submitting a free-form application that the value of the minor’s property is less than EUR 15,000. The application must include a document or account statement that demonstrates the reduction in the property’s value. The guardian may also request the removal of the guardianship from the register at the same time as the guardian submits the annual statement. If the value of the property owned by a minor has decreased due to the actions of their guardian, we will not remove the minor’s guardianship from the register.   

Example: We have entered the guardianship of a minor in the Register of Guardianship Affairs because the minor’s share in the assets of an estate, without deducting the debts of the deceased or the estate (gross value), exceeds EUR 20,000. The debts of the deceased and the estate are paid, after which the estate is divided. In the distribution of the inheritance, the minor receives EUR 10,000 in property. They have no other property.  

In this case, we can remove the minor’s guardianship from the Register of Guardianship Affairs because  

• the value of the minor’s property has decreased permanently to less than EUR 15,000; and 
• the value of the property has decreased due to the payment of debts and not due to any actions by the guardian that were contrary to the minor’s interests. 

However, we may keep the entry in the register if there is a special reason for doing so. 

The persons who have custody of a minor child also act as their guardians. The guardian of a minor is disqualified, i.e. they require a substitute, if in some cases – for example, in the distribution of an inheritance – the minor’s counterpart is 

• the guardian themself 
• the guardian’s spouse 
• the guardian’s child 
• another client represented by the guardian 
• a company in whose administration the guardian is involved.   

Some examples of counterparties include sellers and buyers, landlords and tenants, and, in the case of an estate, the surviving spouse and the heirs to the estate.  

A guardian of a minor is also disqualified in the event that there are any conflicts between their interests and those of the minor.  

The persons who have custody of the minor and act as the minor’s guardians must work together. If one of the guardians is disqualified, neither person can act as guardian in the matter in question. 

Please note that the joint guardian of minor siblings may represent the siblings in the distribution of an inheritance if their interests do not conflict with each other. The interests of the siblings may conflict, for example, when the property is to be divided in a way where the minors will receive different types of property. In this case, the guardian will need a substitute.

Here are a few situations where a guardian will need a substitute: 

• The guardian has a minor and adult child who are stakeholders in an estate that is to be divided among its inheritors. In this case, the guardian will need a substitute even if they are not a stakeholder in the estate. 
• A minor is a stakeholder in an estate where the intention is to sell a car belonging to the estate to the guardian or their adult child. 
• A minor owns an apartment that they do not live in. The guardian wishes to rent the apartment to their adult child. 
• If a housing share owned jointly by the guardian and minor is to be sold, the guardian can usually sell the property on behalf of both parties. However, the guardian will need a substitute if the interests of the guardian and the minor are in conflict, for example because the minor may need the apartment for their housing while the guardian does not. 
• The guardian or a person close to them has unclear claims from an estate in which the minor is a stakeholder. The guardian will need a substitute for the administration of the estate. 

You can appeal the decision you have received in accordance with the instructions for appeal. The instructions are attached to the decision. 

Provide us with a property inventory 

• on your own initiative when the minor’s property exceeds EUR 20,000 
• when we ask you to do so as part of our process for determining the value of the minor’s property 
• when we have mandated you to draw one up in our decision to enter the minor in the Register of Guardianship Affairs. You will be required to submit it within three months of the date of the decision. 

Always report the minor’s entire property and not just the property that we may have already been informed about, such as an insurance compensation or gift. 

The accounting period is usually the calendar year.  

The exceptions to this are the first and last accounting period: The first accounting period begins on the date of the guardian’s appointment and ends on 31 December. The last accounting period begins on 1 January and ends on the date on which the guardianship ends. We may also issue a separate decision on the length of the accounting period. 

The annual and final statement can be drawn up by  

• the person with custody of the minor who serves as their guardian, or 
• a person authorised by them. In this case, the account must be signed by the guardian or accompanied by a power of attorney that has been issued for the preparation of the account. 

The guardian signs all annual and final statements. If there are several guardians, they must all sign these statements.

Calculate and itemise the income for all bank accounts under your management on the basis of their account statements. If the minor is the recipient of a pension, always report it in the annual statement, even if the pension is paid to your account. 

If the pension income paid to a minor is transferred from the minor’s account to the guardian’s account to pay for the minor’s living costs, calculate and report the sum of all pensions transferred to your account during the accounting period under the form’s cost of living section.  

If the pensions are paid in full to the guardian’s account, indicate the sum of all pensions received during the accounting period under the form’s cost of living section.  

Do not append any documents or receipts for normal living costs in the statement. 

You do not need to report any normal household effects. Report any vehicles and valuable property, such as paintings, jewellery and other valuables.

Fair value refers to the resale price, i.e. the price for which the property could be sold. 

It is the guardian’s duty to determine the fair value. However, as a guardian, you do not need to ask an expert for their opinion on the fair value for your property inventory or annual and final statement. Instead, you can determine it yourself in the following ways:  

• You can use the fair value from the previous year if it has remained approximately the same. However, if a location has been renovated or subjected to other actions, you may need to determine its new fair value. 
• You can examine purchase price statistics to compare how much has been paid for a similar apartment/real estate. 
• You can justify the new value on the basis of the renovations and improvements made at the location. 
• You can determine the value from an estate inventory deed or inheritance distribution deed if it was drawn up recently.  
• For more information on forest holdings, see the Metsaan.fi service. 

However, if you need an expert’s assessment for managing  your matters, you can request it from a real estate agent, property manager or forestry expert. 

Your annual statement must always include   

• account statements of all deposits held in the name of the minor for the accounting period (bank accounts, investments, securities, etc.)  
• the most recent tax decision.  

However, do not include any account statements from the minor's own expenses account in the annual statement. 

If there have been any changes to the pensions you have previously reported, append the notifications and decisions concerning them to the annual statement. 

If your account statements contain any unusual income or expenses, append the related documents to your annual statement. These types of expenses are usually related to larger individual purchases, such as computers, hobby fees or driving licences. 

As a rule, the guardian must submit an annual statement to us. 

However, if the guardian fails to do so, we will assess what further measures are necessary.  

In certain situations, we may submit an application to the District Court proposing the release of the guardian and the appointment of a new guardian. The court will hear and issue a decision on the matter. The court may release the guardian from their duties if  

• the guardian proves incapable or unsuitable for the task 
• there is another special reason for the release. 

The use of e-services on behalf of your client is not usually possible after your duties have ended. However, as a guardian, you have the right to receive e.g. the necessary bank statements from the bank up to the date when your duties were valid. 

The guardian must still draw up a final statement

Even if the guardian does not need to prepare an annual statement for us each year, they must still prepare a final statement when the guardianship ends. The final statement is drawn up for the period for which no statement has been prepared. This includes the period when the guardian was exempt from the obligation to submit an annual statement. This means that the accounting period for a final statement may be several years.

What if the client’s property changes?

If there are changes in the client’s property, such as the sale of their property, the acquisition of new property, or their becoming a stakeholder in an estate, we can restore accountability or shorten the accounting period. A guardian exempted from the annual statement obligation must always notify us of any such changes within one month.

Follow these instructions

1. Consider whether the criteria above concerning the quality and volume of your client’s property are met.

2. If you can and would like to apply for an exemption from the annual statement obligation or an extension to the accounting period, fill in the application and submit it to us. Remember to provide the necessary justifications for your application. 

Application (in Finnish)

3. Submit the signed application in one of two ways:

• via email by secure mail. Select [email protected] as the recipient for the secure mail.
• by mail to the address below.

4. We will process your application and take into account the annual statements for previous years. If necessary, we will ask you for additional information.

5. We will issue a decision on the matter. We will send the decision to you in Suomi.fi Messages if you have activated the service. Otherwise, we will send the decision by mail or email if you have given your permission to do so in the application.

The proceeds must be deposited in a bank account that is in the name of the estate. If there is no bank account in the name of the estate, one must be opened.

A change of residence involves two different actions: the sale of a residence and the purchase of a residence. The interests of the minor must be realised in both. 

Although a guardian can usually represent a minor in the sale and purchase of a residence, in the case of a sale/purchase that is related to an estate, the interests of the guardian and minor may conflict with each other. For example, this type of conflict may arise in a situation where the minor’s funds may be used to obtain a jointly owned family residence. Additionally, the loans and pledges related to the purchase of a residence may also cause conflicts of interest. In this case, the guardian needs a substitute. Read more about applying for a substitute.

Selling and buying a residence requires a permit from us, which the guardian must apply for. However, if the guardian is disqualified due to a conflict of interest, they only need to apply for a substitute. In this case, we will appoint a substitute for the guardian. The substitute will then apply for the necessary permit for the action from us. 

As we process the permit or substitute matter in question, we will also interview the minor if they are aged 15 or older. 

The removal threshold is EUR 15,000.  

For more information, see the question below on when we can remove a minor from the Register of Guardianship Affairs. 

We will not receive the estate inventory deed automatically, so the guardian must send it to us within one month of the estate inventory. If the deceased had a will or prenuptial agreement, it should be submitted to us at the same time as the estate inventory deed. 

We will not be informed automatically. It is for this reason that the guardian must inform us when the minor’s property exceeds EUR 20,000. 

First, discuss the matter with your guardian. They will usually be able to show you why they handled your affairs in a certain way.  

If, after your discussion, you justifiably believe that the guardian has caused damage to you through their actions, you can file a claim for damages with the District Court within three years after receiving the final statement.