Verified July 2026
What an estate bank account is
An estate bank account is an account opened in the name of the estate, not the deceased person, to gather what the estate is owed and pay its debts and expenses.
To open one, the executor or administrator generally needs the court document appointing them and an Employer Identification Number for the estate.
The Employer Identification Number is issued by the Internal Revenue Service, free of charge.
Keeping the estate's money in its own account, separate from yours, is something the court and the beneficiaries will expect you to be able to show.
Internal Revenue Service, Employer Identification Numberopens in a new tabWhy a separate account matters
An executor holds the estate's money in trust for its creditors and beneficiaries. Mixing it with your own money, even briefly and with good intent, makes it hard to prove where every dollar went and can expose you to personal liability.
A dedicated estate account produces a clean record. Every amount the estate receives and every payment it makes runs through one place, which is exactly what a final accounting requires.
What you need to open one
Banks generally ask for the court document naming you as personal representative, often called letters testamentary or letters of administration, along with the estate's Employer Identification Number and a certified copy of the death certificate.
The Employer Identification Number can be requested directly from the Internal Revenue Service. Treat any site that charges a fee to obtain one for you as an unnecessary middleman.
Internal Revenue Service, apply for an EINopens in a new tabGo deeper
Law and the Estate
The executor's duties, in the order a court expects them.
Primary sources
Last updated July 2026
This is general information, not legal, tax, financial, or medical advice. Rules vary by state and change over time. Please confirm anything that affects your situation with a qualified professional.