What to Do in the First 72 Hours After a Business Owner Dies (Ontario, Canada Guide)

When a business owner passes away, the first 72 hours are not about contacting every bank, creditor, government office, and supplier immediately.

The first priorities are usually the funeral home, close family, key documents, and immediate business stabilization.

First legal clarification: POA ends at death

This is one of the most important distinctions to understand:

A Power of Attorney ends when the person dies. After death, the attorney under a POA no longer has legal authority to act. In Ontario, authority shifts to the executor / estate trustee named in the will, or if there is no will or no executor able to act, someone must apply to court to be appointed estate trustee.

So if a family member had POA while the owner was alive, that does not automatically make them the person in charge after death

Step 1: Contact the funeral home as soon as possible

In Ontario, the funeral director plays a major role early on.

The Medical Certificate of Death is completed by the physician, coroner, coroner investigator, nurse practitioner, or registered nurse and given to the funeral director. The funeral director and an informant (usually a family member) then complete the Statement of Death so the death can be registered. A death must be registered before a death certificate can be issued.

This is why the funeral home should be one of the first calls. They often coordinate with the hospital or coroner’s office and help move the process forward.

Step 2: Locate the will immediately

The will matters because it can outline:

• who the executor / estate trustee is

• afterlife wishes (ex. organ donation)

• funeral wishes

• whether there are multiple wills

• instructions about personal and business assets

• who should handle personal vs. business matters (sometimes business owners will name a different executor for their business vs. their personal estate)

It is important to keep wills updated, especially when a person owns a business, because the named executor may be responsible for decisions affecting both the estate and the business.

In Ontario, the estate trustee is the person with legal authority to manage and distribute the estate.

Step 3: Confirm who is legally leading the estate

If the will names an executor, that person is typically the lead person to act for the estate, subject to any probate requirements. If there is no will or no executor named or available, someone must apply to the Ontario Superior Court of Justice to be appointed estate trustee without a will. A spouse is often first in line to apply, followed by close family, but it is not automatic.

This is an important correction to a very common misunderstanding: the spouse is not automatically executor by default simply by virtue of being the spouse. The spouse is often the practical first person to apply, but the court appointment is what gives authority when there is no executor named in a valid will.

Step 4: Do not race to notify every company immediately

Families often feel pressure to call everyone right away:

• banks

• CRA

• Service Canada

• insurers

• utilities

• subscription services

• benefits administrators

• life insurance policy administrators

In many cases, that can create more stress before the right documents are in hand.

A better first sequence is usually:

1. funeral home

2. immediate family and close friends

3. locate the will and key identification documents

4. confirm the executor / estate trustee

5. gather business information

6. contact key business advisors (lawyer, accountant, financial planner)

7. then begin institution-by-institution notifications

This is practical advice, not a legal rule, but it helps families avoid making repeated calls before they have the documents and authority they need.

Step 5: Gather the key documents

At minimum, try to locate:

• the will

• marriage certificate, if relevant

• death certificate / proof of death when issued (from funeral home, coroner’s office or hospital)

• photo ID

• business incorporation documents or sole proprietor records

• insurance policies

• banking information

• business licenses

• partnership or shareholder agreements

Without these, families may struggle to close accounts, transfer assets, or even speak meaningfully with institutions.

If you don’t have these documents organized, check out The Dahlias Planner - Business Essentials resource.

Step 6: Stabilize the business first

If the deceased owned or led a business, someone needs to assess:

• what must happen in the next 24–72 hours

• is there a key person who can step in (office manager, business partner)

• whether appointments or deliveries need to be cancelled

• whether employees or contractors need instructions

• who will speak with clients

• whether payroll or rent is due

• whether the business should temporarily pause

If the owner had a business contingency plan, the spouse or executor should follow the named contact sequence.

If the owner was a sole proprietor with no internal point person, a delegated person may need to coordinate urgent operational steps until longer-term decisions are made. Unfortunately, these additional responsibilities will fall on the spouse or family - who may have very little knowledge about how the business operates.

Step 7: Notify the right business contacts with a simple message

When notifying staff, business partners, key advisors, or office managers, keep the message short and practical.

Sample phone script

Hi [Name], I’m calling to let you know that [Business Owner’s Name] has passed away. We are working through the immediate next steps for both the family and the business. At this stage, we may need your help identifying urgent operational matters over the next few days. Can we arrange a brief call today?

Sample email script

Subject: Important update regarding [Business Name]

Hi [Name],
I’m reaching out to let you know that [Business Owner’s Name] has passed away. We are currently working through immediate family and business matters and may need your help identifying urgent next steps for the business.

If possible, please let me know your availability for a short call today.

Thank you,
[Name]
[Role / relationship]
[Phone number]

Step 8: Prepare for repeated follow-up

A hard reality for many families is that government departments and financial institutions do not automatically update one another. Separate calls will often be required. Even when a death is reported, some organizations may continue sending reminders, statements, or marketing mail for months. That’s frustrating and uncomfortable, but common. So multiple calls or communication may be needed.

This is another reason wills, document organization, and business contingency planning matter so much.

Why this matters for business owners now

Many families discover during a crisis that they lack access to critical information about the business.

If you own a business in Ontario, you should not assume:

• your spouse will know what to do

• your lawyer or accountant can manage operations

• your executor will understand the business

• one phone call will update every institution

When business owners prepare in advance by documenting systems and contacts, it becomes far easier for families and advisors to navigate the situation.

Business contingency planning helps ensure that the business can continue responsibly or transition in a structured way because a business contingency plan helps you identify:

• who your spouse or executor should contact first

• which systems and accounts matter most

• who can stabilize the business

• what your family should prioritize in the first 72 hours