@dust2dust wrote:
@CountyDownIeUk- So maybe that's slightly towards me. Have I been advising on this incorrectly? Don't accounts and credit cards get shut down (or at least locked and paused) by banks upon being informed?
Never been an executor before? Or done probate?
So one thing that happens quickly is a death certificate.
That will shut down your drivers license, provincial ID, provincial medical card and I do believe that it will shut down the federal pensions like CPP OAS GIS and access to CRA.
An obituary is no longer required and if one is done.....it should be brief without whole lot of details that can exactly identify the deceased. Say if you live in a small town with a local paper...the FIs will review obituaries and shut down your bank accounts. And brief information makes less chance of identity theft and the FI shutting down any accounts. But the executor needs time to review all accounts to identify all debts, loans and credits and pull those PDF records for the 7 year period of records being available. They may find other services to cancel as well. An executor would leave bank account alive to pay for any auto pay set ups. Once you go to an FI they then move all funds to an estate account....leaving no online access to estate or the regular accounts or the ATM debit cards. . Best to park to gain no interest. Credit cards are last on list as they should be gathered and locked up. Then later cancelled as most credit cards companies make you jump through hoops to change address or cancel.
Other executors may do differently.
