[2021-07-13] Estate information

When my brother passed away in 2019, my mom, my siblings and I managed various aspects of his estate, as Greg had no wife or children. We secured his assets, disposed of property, assessed and remitted estate administration tax, closed accounts, and contacted various companies and government organizations to settle his affairs.

To assist with the effort, we had to sift through his papers to find information about life insurance, bank accounts, investments and much more. Where information was missing, we tried to gather details to fill in the blanks. When reaching out to companies and government organizations, even for something as simple as canceling a service, we frequently encountered the challenge of not having been authorized as representatives for my brother. One typical conversation I had was with a life insurance company:

Me: My brother passed away and it appears, from his papers, that he may have had a life insurance policy with you in the past.
Representative: I can't share personal information about your brother.
Me: Well, this is his policy number. If he did have an active policy with you, how would I go about applying to receive the death benefit associated with his policy?
Representative: I can't give you information pertaining to your brother.
Me: Well, if someone had a policy with your company and passed away, how would the beneficiary go about accessing the death benefit?
Representative: If a deceased person had an active life insurance policy, their beneficiary could write to the company to request the death benefit.
Me: But how do I find out whether my brother had an active policy when you can't give me that information?
Representative: [Pause] You should write to the company.

This type of conversation was repeated many times over. I learned to say, "I'm not requesting any personal information. I'm simply looking for details on how I could address a situation like this, hypothetically speaking of course." I found that agents could be very forthcoming when discussing generic examples.

We did write to the insurance company and Greg's beneficiary ultimately received the death benefit to which she was entitled. However, we would have missed this benefit had it not been for a single document tucked among my brother's papers.

As we continued our efforts to administer Greg's estate, I thought about how difficult it can be to manage the affairs of a deceased person since they are no longer around to ask questions. Even in cases where there is a surviving spouse, information may be unavailable or, if it exists, unorganized. And the last thing a grieving spouse wants to do is go searching for the answers to questions that various professionals—such as lawyers, accountants, bankers, real estate agents and government representatives—might ask.

And so, a few months after my brother passed away, I created a document that would gather, in a single place, all the information that an executor would need to manage my and my husband's affairs in the event of a sudden death of one or both of us. I thought, "what information would my husband or kids need if I were no longer around?"

Coincidentally, just a few months after I first drafted the document, I was diagnosed with ovarian cancer. That reality made me even more convinced of the value of the document.

But you don't need to be facing a life-threatening illness before you start capturing details of your accounts, investments, insurance, assets, monthly payments, etc. I've updated my document many times since I first created it, including recently when my husband had to replace his credit card and I wanted to quickly know what automatic payments were being charged to his credit card so that we could transfer them to mine and not lose service.

Estate Information Document

Should you wish to create your own estate information document, I offer the headings that I use in mine, along with the rationale for including each piece. At the top of the document, I state its purpose: to provide information that would be needed in the event of the sudden death of my husband and/or me.
  • Address and Phone Numbers. Many estate-related forms ask for the deceased's address, and some accounts are identified by the holder's telephone number. Providing your address and phone number(s) will save your executors time and avoid their having to search for the answers to these basic questions.
  • Date of Birth, SIN and Location of ID. The date of birth of the deceased is another frequently asked question. Less common is the social insurance number, but it's handy for your executor to have. Use this section to note the location of your ID, such as passports and birth certificates, that might not be readily found in a purse or wallet.
  • Marital Status and Children. Your family members probably know your marital status and your children, but if a lawyer asked them "Is it possible that your loved one had a spouse or children that you're not aware of?" they might hesitate to speak definitively. This section allows you to name your spouse and children, if applicable, and to confirm the extent of your dependants. It's also an appropriate place to indicate the location of your marriage licence, if relevant, as this is a key document that a spouse would need in the event of your passing.
  • Will. Identify the type and location of your will.
  • Last Occupation. Some estate-related forms ask for the last occupation of the deceased. Note your current or last occupation, along with the name and location of the organization you work(ed) for.
  • Real Estate. List all real estate that you own or co-own (e.g., home, cottage, rental units). Write down the address and tax roll number for each property. Describe the location of key documents related to each property, such as the deed and the latest MPAC assessment. State whether you have a mortgage or own the property outright.
  • Bank Accounts, Investments, Loans. Identify the types of bank accounts, investments and loans you have and the institutions they're with. Note credit cards and lines of credit. Indicate whether you have a safety deposit box.
  • Canada Pension Plan and Old Age Security. Specify whether you are a recipient of CPP and OAS.
  • Life Insurance. State whether you have life insurance and provide the policy number, institution and named beneficiary. Provide details about your insurance broker and how your executor could contact them.
  • Vehicle. Identify your vehicle make and model, vehicle identification number (aka VIN) and whether you continue to make payments on the vehicle or own it outright.
  • Other Assets. Your estate may be required to pay an estate administration tax on the value of your estate. In addition to real estate and bank accounts, the estate could include assets such as vehicles, boats, artwork and jewelry. You could use this section to list assets not mentioned elsewhere in the document.
  • Property Taxes, Utilities and Insurance. One of the responsibilities of the executor is to maintain the value of the deceased's assets. This could include paying property taxes, utilities and insurance until the real estate is transferred to someone else.
  • Other Monthly Payments. Detail monthly payments for services such as cable, internet, telephone, music or movie services. Your executor could close these accounts if no longer needed or request that they be transferred to another person, such as a spouse.
  • Income Tax. Confirm whether income tax for all prior years has been filed and the location of income tax forms and assessments.
  • Appointments. You could indicate the names and contact details for your healthcare providers and whether upcoming appointments are in your calendar. This would enable your family members to cancel future appointments.
  • Social Media and Online Accounts. List all accounts in social media (e.g., Twitter, Facebook, Instagram, LinkedIn) and online (e.g., Evernote, Dropbox, Google Drive). Identify all your email addresses.
  • Cell Phones. Provide your cell phone number and the associated service provider. Your executor could cancel your account or transfer it to someone else.
  • Organ Donation and Funeral Arrangements. You may wish to specify your wishes regarding the donation of tissues and organs as well as regarding funeral arrangements.
  • Passwords. Note where family members can find your passwords for various online accounts.
My document concludes with a to do list based on various checklists I came across when helping to administer Greg's estate. The list includes steps such as advising Service Canada of the death so that government payments can be stopped, applying for and collecting the Canada Pension Plan death benefit, and notifying the insurance company of the death so that home insurance can continue to be paid.

None of what I share in this post is legal advice. I'll leave that to the experts. I am simply offering, for the benefit of others, the types of information I have assembled to assist someone in administering my estate. I would welcome suggestions for additional information that could be captured in an estate information document.

It may seem macabre to think about creating an estate information document. But it's no more uncomfortable than preparing a will, identifying the person you want to inherit a cherished memento, or letting your family know your wishes about organ donation. I think of my document as a gift to my family should I pass away unexpectedly. That said, I hope to update the document many more times in the years to come.