Immediate Steps (First Week)
Critical First Actions
| Action | Why |
|---|---|
| Notify doctor/coroner | Obtain death certificate |
| Contact funeral home | Arrangements |
| Notify employer | Benefits, final pay |
| Secure the home | If they lived alone |
| Find important documents | Will, insurance policies |
Documents to Gather
| Document | Location |
|---|---|
| Death certificates | Funeral home (get 10+) |
| Will | Home safe, lawyer, bank |
| Insurance policies | Files, email |
| Bank statements | Files, online |
| Tax returns | Files, CRA My Account |
| RRSP/TFSA statements | Financial institutions |
| Pension documents | Employer, files |
Financial Notifications (First Month)
Who to Notify
| Organization | What They Need |
|---|---|
| Banks | Death certificate |
| Credit cards | Cancel/transfer |
| Mortgage lender | Update, discuss options |
| Service Canada (CPP, OAS) | Claim benefits |
| Employer | Final pay, benefits |
| Life insurance | File claim |
| CRA | Tax matters |
Getting Death Certificates
| Recommendation | Quantity |
|---|---|
| Order | 10-15 copies |
| Cost | ~$45-$75 each |
| Why so many | Each institution needs one |
Government Benefits
CPP Survivor’s Pension
| Your Age | Maximum Monthly (2025) |
|---|---|
| Under 65 | Up to $783.88 |
| 65+ | Up to $889.20 |
| Already receiving CPP | Combined benefit |
Eligibility
| Requirement | Details |
|---|---|
| Married or common-law | At time of death |
| Deceased contributed | To CPP |
| Application | Service Canada |
CPP Death Benefit
| Benefit | Amount |
|---|---|
| Lump sum | $2,500 |
| Who applies | Survivor, estate |
| Deadline | 60 days preferred |
OAS Adjustments
| Situation | Action |
|---|---|
| Deceased receiving OAS | Notify Service Canada |
| Your OAS | May be affected |
| GIS | Recalculated as single |
Bank and Investment Accounts
Joint Accounts
| Type | What Happens |
|---|---|
| Joint with survivorship | Yours automatically |
| What you need | Death certificate |
| Action | Remove deceased name |
Individual Accounts
| Step | Process |
|---|---|
| 1 | Present death certificate |
| 2 | Probate may be required |
| 3 | Funds released to estate |
| 4 | Distributed per will |
RRSP/RRIF
| If Beneficiary Is… | Treatment |
|---|---|
| Spouse | Tax-free rollover to your RRSP/RRIF |
| Other individual | Taxable to estate |
| Estate | Taxable in final return |
TFSA
| If Beneficiary Is… | Treatment |
|---|---|
| Spouse (successor holder) | TFSA continues tax-free |
| Spouse (beneficiary) | One-time TFSA contribution |
| Other | Paid out, not TFSA |
Insurance Claims
Life Insurance
| Step | Action |
|---|---|
| 1 | Find policy documents |
| 2 | Contact insurance company |
| 3 | Submit death certificate |
| 4 | Complete claim forms |
| 5 | Receive payout (weeks) |
Employer Benefits
| Benefit | How to Claim |
|---|---|
| Group life insurance | Contact HR |
| Pension | Contact pension administrator |
| Final paycheck | Automatic |
| Outstanding vacation | Usually paid out |
Tax Matters
Final Tax Return
| Return | Deadline |
|---|---|
| Year of death | April 30 following year |
| OR | 6 months after death |
| Whichever is later | Extended deadline |
What’s Taxable
| Item | Tax Treatment |
|---|---|
| RRSP/RRIF (no spouse rollover) | Full value taxable |
| Capital gains | Deemed disposition |
| Income to date of death | Regular reporting |
| Employer pension | May have survivor benefit |
Rights or Things Return
| What it is | Separate optional return |
|---|---|
| Includes | Unpaid salary, dividends declared |
| Benefit | May use lower brackets |
Clearance Certificate
| Purpose | Confirm all taxes paid |
|---|---|
| When needed | Before distributing estate |
| How to get | Request from CRA (Form TX19) |
| Timing | Can take 6-12 months |
Pension and Retirement
Employer Pension
| Type | Survivor Benefit |
|---|---|
| Defined benefit | Often 50-66% continues |
| Defined contribution | Balance paid out |
| Contact | Pension administrator |
RRSP/RRIF Rollover (Spouse)
| Process | Steps |
|---|---|
| Designate you as beneficiary | Should already be done |
| Transfer to your RRSP | Tax-free |
| Or transfer to RRIF | If you’re older |
| Timeline | Within 12 months of death tax year |
Housing Decisions
Mortgage
| Situation | Options |
|---|---|
| Joint mortgage | Continue paying |
| Life insurance on mortgage | May pay off |
| Can’t afford | Sell, downsize |
| Need time | Contact lender |
Property Ownership
| Ownership Type | Result |
|---|---|
| Joint tenancy | You own 100% |
| Tenants in common | Their share to estate |
Estate Process
With a Will
| Step | Timeline |
|---|---|
| Locate will | Immediately |
| Contact executor | Or lawyer named |
| Apply for probate | If needed |
| Distribute | Per will instructions |
Without a Will (Intestate)
| Province | Spouse Share |
|---|---|
| Ontario | First $350,000 + share of remainder |
| BC | First $300,000 + share |
| Alberta | $150,000 + share |
| Each province | Different rules |
Probate
| What it is | Court validates will |
|---|---|
| When needed | Large estates, real estate |
| Cost | 0.5-1.5% of estate (varies) |
| Time | 3-12 months |
Adjusting Your Finances
Budget Changes
| Category | Adjustment |
|---|---|
| Income | May drop significantly |
| Fixed costs | Often stay same |
| Review all expenses | Cut non-essential |
| Subscriptions | Cancel theirs |
New Financial Picture
| Task | Action |
|---|---|
| List all income | CPP, pensions, investments |
| List all expenses | Monthly needs |
| Gap analysis | Income vs expenses |
| Adjustments | Downsize if needed |
Support Resources
Where to Get Help
| Resource | What They Offer |
|---|---|
| Estate lawyer | Legal guidance |
| Accountant | Tax filings |
| Financial advisor | Investment review |
| Grief counseling | Emotional support |
| Service Canada | Government benefits |
Timeline Summary
| When | Actions |
|---|---|
| Week 1 | Certificates, funeral, notify key parties |
| Month 1 | Insurance claims, government benefits |
| Months 2-6 | Probate, transfers, tax planning |
| Month 6+ | Final returns, estate distribution |
| Ongoing | Adjust your financial plan |