Did you know that at the end of December 2013, approximately 1.4 million unclaimed balances, worth some $532 million, were on the Bank’s books?
(source: Bank of Canada)
An “unclaimed balance” is a Canadian-dollar deposit or negotiable instrument, issued or held by a federally regulated bank or trust company. It can be in the form of a deposit account, bank draft, certified cheque, deposit receipt, money order, GIC, term deposit, credit card balance, or traveler’s cheque.
What does this mean for you?
As a client, the more information you have for your executor, the more money that goes to your loved ones.
The implications for your loved ones are monetarily huge! If you get your affairs in order, you ensure the funds you have worked so hard for, are appropriated to the correct parties. Make sure you are prepared.
The Executor Made Easy System not only a complete system for organizing your information, it is also an information resource for your Executor.
It will provide information on which STEPS are required to complete the process.
It also contains contact information for agencies, professionals and forms that will be required.
Executor Made Easy (EME) is designed for you to prepare for the inevitable and provide your Executor with the tools to efficiently and cost effectively finalize your estate.
Family members and friends are typically picked as Executors; this is based on relationships not experience. The majority of people asked to be an Executor accept without knowing what they are agreeing to.
Being an Executor is extremely difficult and entails hours and hours of work.
Executors are legally responsible for their actions and can be personally sued for any of their decisions.
Not many people believe that they are going to die accidently, yet thousands of people die every month accidently in North America.
Being properly prepared is critical to ensure your loved ones are taken care of.
EME is designed to allow you to store all the information your Executor will require.
It is also designed to allow you to input ONLY THE INFORMATION YOU ARE COMFORTABLE WITH.
Do you have questions or concerns regarding the EME system:
Do I require a Lawyer?
Can I collaborate with family members?
Wondering who you should appoint as an Executor?