Digital Assets and Safety Deposit Boxes After a Death in Prince Edward Island

Two categories of assets cause consistent confusion for PEI executors: safety deposit boxes, which sit behind the bank's procedures and may require specific court authorization, and digital assets, which range from online banking to cryptocurrency to social media accounts — each with its own access rules.

Safety Deposit Boxes After Death in PEI

A safety deposit box rented by the deceased is not a bank account — it's a rental agreement with the financial institution for a physical storage space. When the renter dies, the bank seals the box pending proper authorization.

Before probate is granted: Most PEI banks will allow a family member or executor to access the safety deposit box in the presence of a bank officer to search for the original will, insurance policies, and other critical documents. The purpose is specifically to locate documents needed for the probate process. The bank will typically create a list (inventory) of what is removed and what remains.

After probate is granted: The executor, presenting the Grant of Letters Probate and their identification, can access the box fully and remove its contents for the estate.

What to do immediately:

1. Contact the branch where the safety deposit box is held
2. Explain that you are the executor or next of kin and need to search for the will
3. The bank will arrange access in the presence of a bank officer
4. Document everything removed from the box, with the bank officer as witness

The contents of a safety deposit box are often the most critical early documents: the original will, title deeds, insurance policies, stock certificates, and jewellery. Finding these early saves significant time and expense.

Digital Assets: The Scope of the Problem

"Digital assets" covers a wide range of things that PEI executors need to manage:

• Online banking and investment accounts (separate from the underlying accounts — the access itself)
• Email accounts (may contain important estate correspondence)
• Social media profiles (Facebook, Instagram, LinkedIn)
• Cloud storage (Google Drive, Dropbox, iCloud)
• Subscription services (Netflix, Amazon Prime, Spotify)
• Cryptocurrency and digital wallets
• Domain names and websites
• Online business accounts and digital storefronts
• Loyalty points and rewards (Air Miles, Aeroplan)
• Digital photos and documents
• Gaming accounts with in-game purchases

Each category has different access rules, different transferability, and different financial value.

Accessing Online Banking and Financial Accounts

Online banking credentials typically cannot be legally used by anyone except the account holder. An executor who logs in using the deceased's credentials (password, PIN) may violate the service agreement and potentially Canadian computer access laws.

The correct approach: Contact the financial institution's estate services team directly. Present the Grant of Probate and your identification. The bank will give the executor access to view and manage the accounts through proper channels, without using the deceased's personal credentials.

Cryptocurrency After Death

Cryptocurrency is one of the most difficult digital asset categories for executors. If the deceased held crypto:

• Wallets controlled by private keys: If the private key is lost, the cryptocurrency may be permanently inaccessible. There is no recovery mechanism if the key cannot be found.
• Exchange accounts: Platforms like Coinbase, Kraken, or Binance have estate procedures similar to banks — the executor contacts the platform, provides the death certificate and proof of executorship, and the platform transfers the balance according to their process.
• The key challenge: Finding the crypto holdings in the first place. Check for hardware wallets (Ledger, Trezor), seed phrase documents, crypto exchange account confirmations in email, and any written notes about digital holdings.

The executor must disclose all cryptocurrency holdings as estate assets. Their value at the date of death is reported on Form 65E and the terminal T1 return.

Email and Personal Accounts

Google/Gmail: Has an Inactive Account Manager feature that can designate someone to access or delete the account after a period of inactivity. If this wasn't set up, Google has a next of kin request process for accessing a deceased person's account.

Apple/iCloud: Apple requires a court order specifying access to a deceased person's Apple account. This is one of the more difficult platforms to access without advance planning.

Facebook: Can be memorialized or removed at a family member's request. Facebook also allows users to designate a "legacy contact" in advance to manage the memorialized profile.

Email generally: Executors may need email access to find financial statements, creditor correspondence, insurance information, and other estate documents. The legal pathway is to contact the service provider with the death certificate and probate grant.

Subscription Services: Cancel Them

Every active subscription is a monthly charge against estate funds (or against the credit card that needs to be cancelled). Identify and cancel:

• Streaming services (Netflix, Disney+, Amazon Prime, Crave)
• Software subscriptions (Microsoft 365, Adobe Creative Cloud)
• News and magazine subscriptions
• Gym memberships
• Any auto-renewing services

Check the deceased's bank statements and credit card statements for recurring charges. Cancel each service individually, as most platforms don't communicate with each other.

Loyalty Points and Rewards

Air Miles, Aeroplan, PC Optimum points, and similar loyalty balances are often overlooked estate assets. Some programs allow transfer to a nominated beneficiary on death; others have limited estate transfer options.

• Check the deceased's loyalty accounts for balances
• Review each program's estate policy (usually in their terms and conditions)
• For significant balances, contact the program directly to inquire about estate transfer procedures

Practical First Step: Finding What Exists

The biggest challenge with digital assets is often just discovering what accounts exist. Strategies:

• Review 6–12 months of email for account confirmation, subscription receipts, and financial notifications
• Review bank and credit card statements for recurring digital charges
• Check browser saved passwords (if you have access to the computer)
• Look for a password manager account (LastPass, 1Password) — this is a gold mine if accessible
• Ask family members who might know about specific accounts

The Prince Edward Island Estate Settlement Guide includes a digital and physical asset inventory worksheet that covers the full range of accounts and assets executors commonly encounter — including digital holdings — and the specific steps for each category.

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