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Home >> Special Situations >> Deceased Individuals
Opening an Estate Account
Is an EIN and a copy of the Will showing me as executor enough to open an estate account?
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 No, a Will is only an expression of a decedent's wishes concerning the settlement of his or her estate, and the person or persons to execute those wishes. To be given any legal effect, it must be approved, or probated, by a court with jurisdiction in such matters. That court must take into account the decedent's nomination of an executor, and normally gives the nomination great deference, but in the end, the court decides who will be the executor, and issues Letters Testamentary or a Certificate of Appointment, depending on your state's laws. The individual to whom that document is issued must bring it and the new EIN for the estate to a bank to open an account for the estate.
Published on BankingQuestions.com 8/25/09
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