Back in the early 1990s, when I was just getting started in my career, Jack was already a retired entrepreneur and senior citizen.

We met through a mutual acquaintance (my late mother of blessed memory), and soon became friends. Jack was an active widower with grown up children and grandchildren who didn’t live in Toronto.

I remember accompanying him to his bank branch where he introduced me to the bank manager. They added me to the approved list for access to his safety deposit in case something happened.

He passed away in 2009.

Now fast forward to just weeks ago and imagine my surprise when the mailman delivered a letter to me from Jack’s bank. The letter which was addressed to me and Jack began with an explanation that the fee for the safety deposit box were in arrears and that I should come into the bank to bring it up to date.

The zinger came next…what did I want to do with the safety box?

After all these years…wow…THAT safety box? What’s in that box and why did it take all these years to let me know of its continued existence?

As it turns out, this happens a lot more often than you’d expect. People often pass away leaving their survivors totally unaware of ‘unseen’ assets like safety deposit boxes, property deeds, bank and brokerage accounts, etc. The result: estates don’t get settled properly, rightful heirs don’t receive their inheritances on a timely basis (if at all), more taxes are paid, etc. Did you know there’s more than $450 million in unclaimed bank accounts in Canada?!

All of those problems are easily avoided simply by using my free Estate Directory.  It is a writeable PDF document that can be completed on your computer or the old fashioned way with a pen. Use it to organize important information about your personal and financial affairs, including digital passwords, Air Miles, etc.

It is a convenient record that can be updated easily on an annual basis, or more frequently if required. It will help your survivors to wind up your personal affairs in an orderly manner.

The Estate Directory is just one element of the 3-part Estate Planning Toolkit  now available free at my website here

 The Estate Planning Toolkit includes:

1 - Estate Planning Checklist – know in advance how to organize your estate efficiently and eliminate taxes.

 2- Estate Directory - What if something happens to you? Will your spouse and children find every important document easily?

Examples: wills, powers of attorney, bank accounts, life insurance, digital passwords, etc.

 3- Executor Duties Checklist – does your executor know what do? Keep this document with your wills.

Please pass along the toolkit to family and friends who will likely benefit from it too.

I am now in the process of contacting Jack’s children to make arrangements for the bank’s locksmith to crack open the box and reveal its treasures.

Stay tuned

I will keep you posted