Don’t fear the death binder

Despite its ominous-sounding name, a death binder isn’t something to be afraid of; on the contrary, it can be a tremendous help for your loved ones in the event of your passing. Also known as an in-case-of-death checklist or legacy binder, a death binder is a comprehensive collection of documents and information that can help your loved ones manage your affairs in the event of your passing.

Creating a death binder ensures that your executor and family can easily access your important information and carry out your wishes in the event of your death. It’s also a thoughtful way to reduce the stress and uncertainty on your loved ones in a time of turmoil.

How to get started

Your death binder doesn’t actually have to be a physical binder. For digital files on a thumb or hard drive, you need to make sure you include any passwords and that the files are clearly named and sorted into folders for easy navigation. For a physical binder, store it in a safe but accessible location and inform trusted family members or friends of its location.

It’s also important to keep the binder organized and updated regularly, especially after major life changes or if you decide to alter your will or executor instructions. In a way, your death binder should be a living document.

You should also consider consulting with a lawyer to ensure all legal documents are properly prepared.

What to include

1 Personal information

• Your full legal name, date of birth, and Social Insurance Number
• Contact information for key people such as family members, friends, and legal/financial advisors

2 Important documents

• Copies of your will, trust documents, and any power of attorney assignments
• Advance healthcare directives, such as a living will or medical power of attorney
• Birth certificate, marriage certificate, and any divorce decrees

3 Financial information

• Bank account details, including account numbers and contact information for financial institutions
• Information on investments, retirement accounts, and pensions
• Details of any debts, such as loans or credit cards
• Details of household bills and expenses (e.g., utilities, cable, internet, mortgage) and how they’re paid
• Tax information such as recent property tax, tax returns, and notices of assessment

4 Insurance policies

• Life insurance, health insurance, home insurance, car insurance, and any other relevant policy information

5 Property and assets

• Deeds and titles for real estate and vehicles
• List of valuable personal property and any documentation of ownership
• Documentation for business owners such as shareholder agreements and succession

6 Digital accounts and passwords

• List of online accounts, usernames, and passwords (consider using a password manager for security)
• Login information for My Account for Canada Revenue Agency and My Service Canada Account

7 Funeral and burial wishes

• Instructions for your funeral or memorial service preferences
• Information on any prepaid funeral arrangements or plots

8  Letters and personal messages

• Personal letters to loved one
• Any messages or videos you wish to leave behind

9 Additional considerations

• A list of subscriptions or memberships that need to be canceled
• Loyalty programs
• A list of any pets and their care instructions

It’s understandable to want to put off end-of-life planning, but creating a death binder can provide peace of mind for you and your loved ones, knowing that your affairs are in order and relevant documents and information are consolidated and accessible