When someone passes away, the Executor normally sorts out finances and distributes what’s left according to the will.
If your loved one has passed without a will, the estate will be distributed according to the law. Please contact a lawyer for further advice.
The Executor has various responsibilities including:
☐ Notify the deceased’s insurance company
☐ Notify the deceased’s bank and other financial institutions as soon as possible and arrange to meet with a representative to provide proof of death
☐ Cancel credit card accounts
☐ Pay all final bills
☐ Create an inventory of estate assets
☐ Complete an income tax form for the deceased. When someone passes away, the Executor has to file a final tax return to find out if the deceased owes any income tax. The CRA has a guide for the legal representative who has to file an income tax which can be found here
☐ Contact the following offices to find out eligibility for, or to cancel benefits:
• Canada Child Tax Benefits
• Veteran Affairs Disability Program Benefits
• Canada Pension Plan
• Canada Savings Bonds
• Goods and Services Tax
• Guaranteed Annual Income System
• Ontario Disability Support Program
• Ontario Drug Benefits
• Ontario Savings Bonds
• Ontario Works
For more information on benefits you may be eligible to receive and how to cancel your loved one’s various benefits from the Government of Canada, please click here.
The Ontario Government also provides Ontario residents additional information which can be found here.