How Municipalities Will Benefit from Legacies in the Future: A Closer Look at the Process

Leaving a large inheritance is a respectable act, but it is equally meaningful when a person spends money wisely during their own life, as Juhana Rossi writes. Vilho Mustajärvi, a farmer from Evijärvi, passed away at the age of 84 in 2022 without any heirs. He decided to bequeath his assets to a foundation that supports the hobbies and studies of young people in his hometown, leaving behind an inheritance of 4.2 million euros. This act of generosity was highlighted in a trade magazine article discussing Mustajärvi’s life and career as an investor.

In recent years, several municipalities, including Askola, Imatra, Isojoki, Tammela, Ylöjärvi, Kuopio, and Tohmajärvi, have benefitted from individuals who have died without heirs leaving behind significant inheritances. While some have intentionally chosen to leave their assets to the municipality, many have passed away without a will, resulting in their inheritance going to the state. As the baby boomer generation nears the end of their lives, it is expected that more inheritances will end up in municipalities in the future.

It is important for individuals to consider how their inheritance will be used after their passing and to plan accordingly. Mustajärvi’s thoughtful decision to support the youth in his hometown serves as an example of how an inheritance can have a lasting positive impact. While leaving a large inheritance is respectable, it is equally important for individuals to use their wealth to maintain a good quality of life during their own lifetime.

Ultimately, the way in which individuals choose to use their wealth, whether through judicious spending, frugality, or charitable giving, reflects their values and priorities. Whether one leaves behind a large inheritance or uses their wealth to enhance their own quality of life, the key is to make intentional decisions that align with one’s values and have a positive impact.