Download Click here - ATB Investor Services

Estate Planning
When your executor makes their way to the branch there are two things in particular we will need to begin:


An original or certified true copy of the Certificate of Death
An original or original of the Will
If the Will, Deeds or documents pertaining to funerary arrangements are in a Safe Deposit Box, the Executor
will be allowed to remove these items from the Box.
Once these items are obtained, we ascertain whether:

The account(s) was/were Joint with Right-of Survivorship. If this is the case, the joint account holder(s)
immediately assumes responsibility for continued operation of the account.

We recommend leaving the name of the deceased client on the account for up to 6 months to
facilitate the deposit of any final cheques that may arrive in the name of the deceased only.
In the event that the executor receives a cheque made out to THE ESTATE OF ______an account in the name of
THE ESTATE OF _____ must be opened.
This account, along with any accounts that are not joint with right-of-survivorship or not designated to a
particular beneficiary:



Become the responsibility of ATB to administer until such time as probate has been granted.
Will have an account lock placed on them stopping any auto transfers in and out.
Must have all transactions performed by the executor monitored and documented.
Funeral expenses, final taxes, and bill payments in the name of the deceased may be processed out of the account
directly. If the executor pays for any of these expenses out- of-pocket, approval must be obtained to reimburse
from the estate.
That being said, designated beneficiaries supersede the will and any account (deposit account or investment
account) with a designated beneficiary are not considered "part of the estate" and are therefore not subject to
the will. Ensure that your designated beneficiaries are a) set in place b) updated to ensure that funds intended for
specific people are not tied up in probate proceedings.
Furthermore, ATB has granted that up to $10K can be immediately release from a lock/frozen account to a surviving
spouse.
Power of Attorney: General, Enduring, or Complete/Total Power of Attorney comes to an end at the time of
death. Do not confuse Power of Attorney with Joint with Right of Survivorship. These are not the same.
C hoosing and Executor: If you have designated joint executorship, please ensure your executors know that all of
them must be present at every meeting to ensure all responsible parties receive the same proprietary information
at the same time.
Any and all directives provided to the bank by the executor(s) must be accompanied by a signed letter of
direction. This can be typed up by your personal banking specialist during your meeting.
ATB Securities Inc. is a wholly owned subsidiary of ATB Financial and is a licensed user of the trademark ATB Investor Services. ATB Securities Inc., (Member - Investment Industry Regulatory Organization of Canada;
Member, Canadian Investor Protection Fund). TM Trademarks of Alberta Treasury Branches.