Personal Representative's Checklist

This detailed breakdown of the steps involved in acting as a personal representative provides a clear and thorough roadmap for managing an estate. By dividing tasks into phases like "Preliminary Steps," "Safeguarding Assets," "Inventorying Assets," "Obtaining Grant of Probate," "Administering the Estate," and "Handling Taxes," you help ensure your personal representative understands the process and what is expected of them. 
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PRELIMINARY STEPS
  • Locate and review the Will: Check for specific instructions about the funeral and locate witnesses if needed.
  • Make funeral arrangements: If not already done, follow any directives outlined in the Will.
  • Obtain death certificates: Secure multiple original copies for legal and financial matters.
  • Assess immediate financial needs: This includes both the family’s needs and those of the estate.
  • Forward mail and cancel subscriptions: Redirect mail and cancel services like phone, newspaper, and magazine subscriptions.
  • Notify interested parties: Inform all relevant persons of their roles and what to expect regarding probate and the distribution process.
  • Arrange care for pets: Ensure pets are taken care of, including finding them a new home if necessary.

SAFEGUARDING ESTATE ASSETS
  • Verify insurance: Ensure adequate insurance coverage is in place for real property and other assets.
  • Vacancy permit: Obtain this for any unoccupied real estate properties.
  • Redirect utility bills: Have bills sent to the executor for payment.
  • Notify financial institutions: Inform banks and other institutions of the death and freeze accounts as needed.
  • Open an estate account: Deposit estate income and pay expenses from this account. Probate may be required before opening.
  • Safeguard valuables: Secure the deceased’s valuables in a safe location.
  • Prepare property: Empty and clean any residence, change locks, and arrange for sale or management of the property if necessary.

INVENTORYING ESTATE ASSETS
  • Search for assets: Contact banks and investment firms, review past tax returns for asset details, and explore any safe-deposit boxes.
  • Initiate insurance settlements: Contact life insurance or group insurance providers to initiate benefit claims.
  • Verify employment benefits: Check with the deceased’s employer about salary, health benefits, pension, and any death benefits for family members.
  • Inspect real estate: Review titles, leases, mortgages, and other property-related documents.
  • Cancel benefits: Notify relevant government agencies to cancel CPP, OAS, Alberta Seniors Benefit, and Alberta Health Care.
  • Apply for death benefits: Collect the CPP death benefit if applicable.
  • Cancel government and financial accounts: Close credit card accounts, return or destroy cards, cancel the deceased’s social insurance number, passport, driver’s license, and health card.
  • Determine market value: Appraise assets at their date-of-death value for tax purposes, and review original purchase prices.
  • Notify creditors: Publish a formal notice to creditors.
  • Identify and record assets: Locate and document all original investment certificates, stocks, bonds, property deeds, and other financial instruments.

OBTAINING GRANT OF PROBATE
  • Instruct a lawyer: Have legal counsel draft the necessary documents, affidavits, and application to submit to Surrogate Court for probate.
    • Note: A Grant of Probate confirms the validity of the Will and legally authorizes the executor to administer the estate.

ADMINISTERING THE ESTATE
  • Receive Grant of Probate: After probate is granted, begin estate administration.
  • Close accounts: Close the deceased’s bank accounts and safety deposit boxes. Transfer funds to the estate account.
  • Distribute specific bequests: Fulfill any specific gifts or distributions as stated in the Will.
  • Manage or sell securities: Transfer, sell, or manage stocks, bonds, and other securities based on the terms of the Will.
  • Transfer or sell property: Handle estate real property by selling or managing as needed.
  • Settle debts: Assess creditor claims, pay debts, and resolve all liabilities. Obtain receipts for payments.
  • Invest surplus cash: Ensure any surplus estate cash is invested in allowable financial instruments until final distribution.
  • Finalize employment and pension benefits: Transfer or close out employment, health, pension, or retiree benefits.
  • Complete estate administration: Ensure all debts are paid, claims settled, and assets distributed before finalizing the estate.

TAXES
  • File the T1 Terminal tax return: Submit the final tax return by April 30 of the year following death or within 6 months of the death date, whichever comes later.
  • Review past tax returns: Obtain copies of the deceased’s tax filings from the past three years for reference and compliance.
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Please note that this document provides general information only, and is not intended to provide specific legal advice. You should consult with a lawyer before acting on any information obtained from the use of this document.