Posted by John Woodfield on January 17, 2013 | No Comments
Very useful list of items needed when handling an estate. Printable version that can be included with a will or given to an executor to make the process smoother.
John Woodfield, B.Comm, CFP, FMA, FCSI│Raymond James Ltd.
Financial Advisor, 1.877.979.2700, 250.979.2744, 604.654.1502
Please click here for a printable version of this list: The Executor Checklist
Make funeral arrangements.
Locate the original will.
Meet with the lawyer that will represent the estate.
Locate the bank accounts of the deceased and the balance on deposit in each account.
Notify the banks of the death.
Locate the insurance policies, annuities and investments and determine amounts payable.
Notify any pensions.
Locate the key to the safety deposit box and prepare an inventory of its contents.
Review all personal papers of the deceased.
Review all real estate documents (deeds, mortgages and leases).
Prepare a detailed estate inventory of all of the deceased’s assets and debts.
Open an estate account for depositing funds received.
Advise insurers of any physical assets of the deceased.
Arrange storage for any item that needs to be stored (insurance may be needed)
Notify the beneficiaries named in the will of the death and advise them of their entitlement.
Cancel any subscriptions or charge accounts (destroy all charge cards).
Contact service clubs for death benefits that may be payable to the estate.
Obtain benefits and wages owed from the deceased’s former employer.
Apply to your Provincial Court (General Division) for Letters Probate (if there is a will) or for Letters of Administration (if there is no will) and pay all probate fees to the Court.
Advertise a Notice to Creditors and Others, if necessary.
Arrange for the filing of the final income tax return and any years that may not have been filed.
Apply for Canada Pension Plan benefits.
Apply for civil service, union and veteran’s benefits, if applicable.
Pay funeral expensed, income taxes payable, charge cards, personal loans and any other debts .
Pay all money bequests and distribute property to the rightful beneficiaries pursuant to the terms of the will and obtain releases from all beneficiaries.
Transfer or cancel any insurance policies on property (car, house or other).
Obtain reimbursement for all reasonable expenses incurred in the administration of the estate.
Pay legal fees and all other outstanding fees relating to estate administration.
Pass accounts before a judge of your provincial Court.
For further information or a copy of our will guide or will planning kit please call:
John Woodfield, B.Comm, CFP, FMA, FCSI│Raymond James Ltd.
Financial Advisor, 1.877.979.2700, 250.979.2744, 604.654.1502
Securities offered through Raymond James Ltd., Member-Canadian Investor Protection Fund .Insurance products/services offered through Raymond James Financial Planning Ltd., not a Member-Canadian Investor Protection Fund.
Posted by Shaida on September 21, 2011 | No Comments
I read the most intersting article today in Castanet about the US housing market.
http://www.castanet.net/news/World/64933/A-bipolar-housing-market In the good ol’ motorcity, Detroit Michigan, the rich are standing in line to purchase high end waterfront mansions while 15 minutes away, a single family home with 3 beds sold for $6000.00 Apparently there are 2 housing markets, one for the wealthy and one for everyone else! Almost a quarter of the US owes more then their home is worth, another quarter has less then 20% equity in their home and this is stagering, almost half couldn’t get a mortgage today! While wondering through the Detroit airport the writing on the wall as well as the PA system is now in Chinese well as English. Looks like the auto industry is regaining some lost footing! Hopefully the housing market for Joe and Susie Public will follow suit.
Posted by Shaida on August 26, 2011 | No Comments
I read an encouraging article on Castanet yesterday about housing starts in Kelowna. CMHC expects housing construction to increase 30% in 2012 which is great news for the economy based on the employment and population growth.
http://www.castanet.net/news/Kelowna/64019/Kelowna-housing-starts-up-for-2012
The buyers have shifted from invement purchases to local families and seniors. BC is seeing growth through employment and demand for housing.
It looks like it will be a great weekend with lots of sunshine. Get out and enjoy all our fair city has to offer this weekend!
Posted by Shaida on August 24, 2011 | No Comments
I was reading an article from Wine Access magazine http://www.wineaccess.ca/articles/item/ivwa-2011-top-25-killer-values about their top 25 killer value international wines. I must agree there are some fantastic wines on their list! They release a new recommendation everyday. Check out the article and see if you agree and stock up your cellar on their top picks! They release a new recommendation everyday. I know I will. Happy shopping!
Posted by Shaida on August 12, 2011 | No Comments
I read a great article about the increase of home sales in July in BC. Follow the link,
http://www.ctvbc.ctv.ca/servlet/an/local/CTVNews/20110811/bc_real_estate_110811/20110811?hub=BritishColumbiaHome#.TkReHrb2auA.email
Hope your having a great summer and enjoying the sunshine!
Posted by Shaida on June 16, 2011 | No Comments
The average home price in Vancouver has risen by 25.7 per cent to $831,555 making the area the most expensive in the country and pushing the prices elsewhere up by 8.6% according to the Canadian Real Estate Market.
Posted by Shaida on June 8, 2011 | No Comments
Watch out for revolving postal strikes! Vernon is on the picket lines at 11:30 pm tonight for 24 hours. Make sure you call all your utility and credit card companies. They are not forgiving and still expect interest and penalties. Business can be done on-line so set up your accounts so you can pay on-line so you don’t incur extra charges.
Posted by Shaida on June 3, 2011 | No Comments
It is finally looking up to be a fantastic weekend in the Sunny Okanagan. I will be hiking, enjoying a local vintage, taking in a sunset and selling houses. I have appointments with clients coming in from out of town looking for a home with a pool. It has the makings of being a perfect summer weekend!
Posted by Shaida on May 13, 2011 | No Comments
April’s real estate market dipped compared to sales reported in April of 2010. Housing sales slowed down after a busy start to the 2011 year to reflect a more balanced market.
The Kelowna Real Estate Market is still recovering albeit at a slow and steady pace. Nothing like the brisk years of 2006 and 2007.
View Kelowna’s April Real Estate Market Report 
The following are Year-To-Date Home Sales Graphs that show how the current market compares to years past. Kelowna and area home salesgraph 2004-YTD 2011
My long-term experience in the local market is an advnantage during all market conditions as I am able to properly price homes to reflect the current market conditions.
Posted by Shaida on May 10, 2011 | No Comments
There was a great article on Castanet yesterday about new housing starts in our fair city. Kelowna is up 7% in single family deatched home starts and up 72% in multi-family due to the increase in apartmental rental contruction starts. Kelowna saw a 74% rise in combined housing starts last month. This is good news for us all!
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