|
Executor's Checklist
- Locate the most recent will.
- Make funeral arrangements.
- Notify the beneficiaries.
- Review the deceased's financial affairs.
- Take care of the surviving family's immediate financial needs.
- Secure personal valuables and documents.
- Redirect mail.
- Cancel subscriptions, credit cards, telephone, cable, driver's licence, etc...
- Change car registrations.
- Obtain at least a dozen copies of the death certificate (Every financial institute will want a copy).
- Probate will and pay probate fees.
- Locate and value assets.
- Claim life insurance proceeds.
- Pay funeral expenses.
- Pay ongoing bills on the deceased''s home.
- Pay outstanding debts, including mortgage, credit cards, car loan, etc...
- Deal with insurance policies, company pension plans, registered deposits.
- Collect income from bonds, GIC''s and other investments.
- Set up and possibly administer trusts.
- Examine contents of safe deposit box.
- Apply for Canadian Pension Plan death benefit.
- Distribute inheritance.
- Complete and file income and estate tax returns.
- *Depending on complexity of estate there may be additional duties.
Make a detailed list of all your investments, assets and debts as well as their location and contact names. Attach it to your will.
|