Executor duties checklist – John Woodfield’s office

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

 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.