What to do with credit cards, bank and retirement accounts
Banking is no walk in the park for the living. There are cheques, balances, fees, dividends and more - each requiring a signature, attention to detail and monitoring. So what about after someone has died? Do their financial affairs just stop? The quick answer is no. Not without some work on the part of their surviving family members. While this is going to look different for everyone, depending on the contingency plans in place - but one thing all Canadians will have to come to terms with is that finalizing someones financial affairs takes work. For example, someone's debt does not always just disappear with their passing and often families are left responsible for the balance. That is why it is important to see end-of-life expenses as more than just paying for a funeral. Here is our guide for handling bank accounts, credit cards, retirement accounts and more after a loved one has passed away.
