Checklist: Death Of A Loved One

Article written by Jennifer Black and Dedicated Financial Solutions.

The death of a loved one is a very difficult time and there are many things that need to be done.

Here is a quick reference to a checklist of some things that need to be done.

Who should you inform?

  • Funeral Home
  • Relatives
  • Bank
  • Financial Advisor
  • Family lawyer
  • Life insurance Company
  • Accountant
  • Executor of the will

What documentation to look for?

  • The deceased’s will
  • Most recent statements for assets: investments, savings and chequing accounts
  • Most recent statements for liabilities: credit card, line of credit, loan and mortgage statements
  • Last tax return

What to cancel?

  • Old Age Security
  • Canada Pension Plan benefits
  • Workplace Pension plan benefits
  • Credit cards
  • Social Insurance Number

Where to look?

  • Look in the filing cabinet for most recent statements from financial institutions
  • Refer to bank statements or bank book to see deposits and automated withdrawals
  • Review the credit card statements to see any automated withdrawals and deposits
  • Check the mail for statements of accounts that you may not know about
  • Safety deposit box
  • Safe

What applications to send?

  • CPP Death Benefit
  • CPP Survivor Benefits for yourself and children, who are still in school

1. Contact and engage a funeral home to conduct the funeral and prepare the death certificates
2. Contact the banks and financial institutions. If there is a financial advisor, they should also be contacted.
3. Contact the appropriate government offices concerning the deceased’s identification like their Health Card, Social Insurance Card and Passport
4. Contact credit card companies to cancel cards
5. Contact Service Canada about Canada Pension Plan and Old Age Security programs if applicable.
6. Apply for any Survivor Benefits for which you may be eligible. If the deceased leaves behind children, apply for Children’s Benefit on their behalf.
7. Contact former employers about pensions and life insurance companies about any policies. Update policies where the deceased was a beneficiary.
8. Change ownership of property like automobiles and real estate. Update accounts with utilities and other services like telephone, cable and hydro. Update or cancel any club memberships or other affiliations.
9. Update your Will and Power of Attorney if necessary.
10. Make an appointment with an accountant to file the deceased’s tax return.

It can be a very emotional time and it is important to take time to grieve as well as getting these things done. At Dedicated Financial Solutions we have mastered the estate process and can help you to navigate the processes and things that must be done all allowing you the time you need to grieve and take care of personal matters. Contact us for a complimentary consultation and/or download the first chapter of our book free today on the homepage.

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