Executor’s Checklist: Commonly Requested Items by CPAs
UPDATE (April 17, 2026): This article has been updated to reflect changes in legislation, regulations, and accounting practices since the original date of publication (April 16, 2018).
Acting as an executor can feel overwhelming, especially when you’re managing both administrative responsibilities and personal matters. One of your key responsibilities is ensuring the appropriate tax filings are completed for the deceased and their estate.
At DMCL, we work closely with executors to prepare the required filings, which may include the final (terminal) tax return, a Rights or Things return, and ongoing estate (T3) returns. Before getting started, your advisor will need a clear picture of the deceased’s financial situation.
Below is a practical checklist of the most commonly requested information to help you prepare.
Key legal documents
Start by gathering the core documents that establish authority and confirm the details of the estate:
- Last Will and Testament
- Probate documents (if applicable)
- Death certificate
These documents allow your advisor to understand the structure of the estate and who has authority to act.
Real estate holdings
If the deceased owned property, you’ll need:
- The fair market value (FMV) of each property at the date of death
- The original purchase price (or best available estimate)
This applies to:
- Principal residences
- Rental properties
- Vacation or recreational properties
An independent appraisal or a market evaluation from a qualified realtor is generally preferred when determining FMV.
Investment accounts
For non-registered investment accounts, your advisor will typically request:
- A statement of holdings at the date of death
- Details of any sales or transactions in the year of death
- Information on adjusted cost base (ACB), if available
These are needed to calculate any capital gains or losses on the final return.
Private company shares
If the deceased owned shares in a private company, additional steps may be required.
This can include:
- Determining the fair market value of the shares
- Assessing potential tax implications on death
- Considering post-mortem planning strategies
Given the complexity, this is an area where early discussion with your DMCL advisor is important.
Other financial information
To complete the necessary filings, your advisor may also need:
- Prior year tax returns and notices of assessment
- Bank statements and income records
- Details of liabilities (mortgages, loans, or credit balances)
- Information on registered accounts (RRSPs, RRIFs, TFSAs) and beneficiaries
- Life insurance proceeds, if applicable
Having these documents ready can significantly streamline the process.
Government benefits
You may also be eligible to apply for the Canada Pension Plan (CPP) death benefit, which is currently a one-time payment of up to $2,500.
If you haven’t already applied, contact Service Canada or speak with your advisor to confirm eligibility.
Getting started
Every estate is different, and the information required will depend on the assets involved and the complexity of the situation. Gathering the right documents early can make the process more efficient and help avoid delays.
If you’ve been named an executor and aren’t sure where to begin, contact your DMCL advisor. They’ll help you understand the steps involved and guide you through the process with clarity and confidence.