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“Personal representative checklist” ©2008 Investors Group Inc. (06/2008) MP1033

Personal representative checklist

What are an executor’s duties?

This checklist will provide a betterunderstanding of your many duties as an Executor; however, depending on the situation and your relationshipwith the deceased, not all points willapply. It is recommended that you seeklegal advice at the outset if you think itmight be necessary.

Making necessary arrangements

In general, the following arrangementswill need to be looked into immediatelyafter death:

Arranging the funeral3 Notify family, friends, heirs and the

employer about the death.

3 Make arrangements for burial or crema-tion and funeral services, as specified inthe Will (unless the deceased has doneso already).

3 Pay funeral expenses.

Claiming life insurance benefitsGather the following information to claimlife insurance benefits:

3 life insurance policy numbers

3 the deceased’s full name, and any nick-names or additional names he or shemay have used

3 home address

3 Social Insurance Number

3 Veteran’s file and service number, if ap-plicable

3 death certificate – including date andplace of death – from the attendingphysician, or a statement of death fromthe funeral director

3 birth certificate, including place of birth

3 names, addresses and birth dates of allbeneficiaries named in the life insur-ance policy(s).

Arranging for living expensesContact the deceased’s bank or creditunion to provide money for the family’simmediate living expenses.

Canada/Quebec pension or survivor benefits3 The deceased’s beneficiaries may be

entitled to a lump sum death benefit, asurvivor’s pension or children’s benefits.A disability benefit may also be payableif the deceased was disabled for morethan four months before death.

3 If the deceased was receiving Canada orQuebec Pension Plan benefits, chequesmay be cashed up to and including themonth of death. Any cheques issuedafter such time must be returned.

3 Be sure to contact the nearest Canada orQuebec Pension Plan Office and ask forthe appropriate claim forms. You willneed to provide the deceased’s birth certificate, death certificate and SocialInsurance Number. To claim a sur-vivor’s pension, they will need the de-ceased’s birth and marriage certificates.To claim children’s benefits, they willneed their birth certificates.

Company benefitsContact the employer as soon as possiblewith regard to:

3 unpaid salary, commissions or bonuses

3 accrued vacation or sick pay

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3 group life insurance or pension planbenefits owed to the deceased.

If the deceased was retired, check with the organization providing pension pay-ments about any death benefit owed tobeneficiaries.

Employment insuranceIf the deceased was receiving Employ-ment Insurance benefits at the time ofdeath, the estate is eligible to receive bene-fits to the date of death. For assistance, thelocal Employment Insurance CanadaOffice (listed under Service Canada in thetelephone directory) may be contacted.

Veterans Affairs CanadaIf the deceased was a veteran, the estatemay be eligible for additional benefits. For assistance, the nearest VeteransAffairs Office may be contacted.

Union or business associatesIf the deceased was a member of a union,club, business or fraternal association,check to see if the deceased had any grouplife insurance or other benefits.

Uncashed chequesArrange to have any uncashed chequesmade payable to the estate.

Attending to personal matters3 Obtain several original copies of the

death certificate.

3 Locate the Will and all documents relating to the estate.

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3 vehicles (include details on registrationand insurance)

3 recreational vehicles.

Real estate3 Search the titles of any residential prop-

erty, rental housing, cottage, agriculturalor commercial lands owned by the de-ceased to determine the details of theownership, and get legal descriptions.

3 Determine if any money is owing onmortgages or other encumbrances, andwhether there is mortgage insurance.

3 Check for outstanding taxes and utility charges.

3 Check on property insurance and trans-fer the ownership if necessary. Ensurepremium payments continue untilproperty is sold or transferred to heirs.

Tax returns3 Consult an accountant to help you file

the appropriate return(s) and pay anytaxes due. An accountant can help youdetermine if previous years’ returnsneed to be refiled.

3 Obtain tax clearance from the CanadaRevenue Agency to ensure all outstand-ing taxes have been paid before you distribute the assets to heirs.

Trust or estate interestsDetermine if there are any assets held intrust separately from the estate.

Distributing the estate to heirs

3 Apply for probate or administration and pay all probate fees or estate administration taxes.

3 Tell the beneficiaries what they are receiving.

3 After paying all debts and any othercharges, distribute the estate accordingto the deceased’s Will and applicablelaws.

3 Have all beneficiaries sign releases stating they will make no further claimson the estate.

3 Pay any legal fees and compensation forExecutor services.

3 Distribute any remaining estate assets.

3 Tell family members and professionaladvisors you have distributed the estate.

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3 Make a list of all names, addresses andbirth dates (or approximate ages) of immediate family members – spouse,children, grandchildren, brothers, sisters, parents.

3 List names, addresses and birth dates of all other beneficiaries named in theWill or in other documents related tothe estate.

3 Locate all bank accounts and determinewhose name the accounts are in and thebalance in each. (You will likely need toopen a bank account in the estate’sname to pay the debts of the estate.)

3 Close all other accounts held by the deceased.

3 Locate the safety deposit box, obtainkeys and make a list of the contents.

3 Arrange with the local post office to re-address mail.

3 Return or destroy credit cards.

3 Cancel charge accounts.

3 Arrange alternate means to pay utilities.

3 Cancel magazine subscriptions andclub memberships.

3 Lock the personal residence and notifythe police and insurance company if it is vacant.

3 Care for pets.

Settling the estate

Settling the estate is a time-consumingprocess, and will require your care toensure that everything is handled accord-ing to the wishes of the deceased:

3 Meet with the lawyer and any Co-Execu-tors. They will explain what’s required of you as the Executor, how much timeit will take to administer the estate, and the approximate fee the estate willbe charged.

3 Protect the assets before probate. Makesure jewelry, stock certificates and othervaluables are stored securely. Depositany cash into an estate account. Gatherall assets and do not release any be-quests until you are sure there is suffi-cient money to settle all debts and paytaxes before you distribute the assets tothe heirs.

3 Review the deceased’s personal papersto determine all assets and debts.

3 Take an inventory of assets and debts,and if necessary, have them valued.

Debts owing to the deceasedBe sure to include in your inventory ofassets any debts owed to the deceased.

Advertise for creditors in appropriate newspapers3 Arrange for advertisements to try to

locate creditors of the estate.

3 Check for accuracy of all debts and paythem once you are satisfied all creditorshave been identified and the estate hasenough assets to pay them.

Bonds & stocksPrepare an inventory of any bonds or stocks, along with the following information:

Bonds3 type of bond

3 face value

3 maturity date

3 total value

3 serial numbers

3 interest rate

3 market value

3 any coupons that have been clipped (or unclipped matured coupons)

3 name and location of registration forany corporate bonds.

Stocks3 the company name/transfer agent

3 type of shares

3 whether they are transferable or non-transferable

3 the current market value per unit

3 the total value of all shares.

Business assets3 Make a list of equipment, machinery,

accounts receivable, goodwill, etc.

3 Arrange for the business to continue, if necessary

3 Have farm and business real estate ap-praised, if necessary

3 Contact the accountant who maintainsthe company records and files the tax returns.

Disposing of assets3 Arrange for storage of assets, when

necessary, and notify property insurancecompanies.

3 Sell any assets which must be sold orwhich you choose to sell if you have apower of sale.

Outstanding accountsPay all credit card bills, medical and dentalbills, personal loans, guarantees, utilitycharges, land taxes, repair bills, etc. Beforedistributing any assets, allow enoughmonies for other costs, such as appraisals,accountants or professional trustees.

Personal belongingsMake a list of the deceased’s personalbelongings, including:

3 household furniture and goods

3 clothing

3 jewelry

3 artwork, stamp or coin collections

3 electronic or sports equipment

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