SEB: the topic of bequeathing is of little importance in Estonia

In Estonia, more than half of the population have not made any legal preparations for bequeathing their business, real estate, or other types of property. In Latvia and Lithuania, respectively, 41 and 49 per cent of the population have not made any such plans.

A positive trend can be seen among people with higher incomes and those over the age of 50, out of whom 31 per cent have not given a thought to legal solutions in Estonia. In Latvia and Lithuania, however, the percentage is still lower at 16 and 21 per cent, respectively. In Estonia, like Lithuania, only 17 per cent of more well-off people have resolved this issue, which is below the 20-per cent figure of Latvia.

In general, research shows that only 10 per cent of the population in the Baltic States has resolved the issue of bequeathing for themselves. A significant portion of them are thinking about their bequest or they already have specific plans for it – 49 per cent in Latvia, 42 per cent in Lithuania, and 37 per cent in Estonia.

“In all three Baltic States the most important area related to bequests is taxation, which can have an impact on the total value of the estate, but there are also worries about disputes among the successors. Early planning will definitely help to lower any potential risks, providing the necessary peace of mind both for the individual as well as their family”, commented Eerika Vaikmäe-Koit, Head of SEB Retail Banking and Technology Area.

*The data used in the text is based on SEB’s analysis and a survey conducted by Mindscan in all three Baltic States in 2015, with a total of 1788 participants.

Additional information:

Maarja Gavronski
Project Manager for Communication
Marketing and Communications Division
SEB

Phone +372 665 5270
Mobile +372 5656 5785
Address Tornimäe 2, 15010 Tallinn
E-mail maarja.gavronski@seb.ee
www.seb.ee

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