How Do I Open an Estate Account at 1st Source?
1st Source opens estate accounts for a court-appointed executor or administrator. The account is opened in a branch. The documents it asks for, what the account costs, and the steps it lists are below.
Opening an estate account at 1st Source
Where to open it
In a branch
How it opens
- In a branch
- Available
Steps at 1st Source
- 1Open the estate account at a 1st Source banking center, which the bank names as where estate-account ownerships are completed.
What it costs
1st Source does not state the opening deposit, monthly fee, or fee-waiver balance for an estate account.
- Other charges
- Dormant account fee of $5 a month on personal accounts after one year without activity on checking or three years on savings
| Account | To open | Monthly fee | Waiver or condition |
|---|---|---|---|
| 1st Checking (personal) | $25 | $7 | $500 minimum daily balance |
| Portfolio Checking (personal) | $25 | $25 | $5,000 minimum daily balance |
| Business Value Checking | $5 | $100 minimum daily balance | |
| Business Checking | $20 | $20,000 minimum daily balance |
What to know at 1st Source
1st Source lists an estate account among the account ownerships it opens at its banking centers. Its published documents name no estate product, document list or fee for the account.
Not in 1st Source's published guidance
- Which documents it asks for
- Whether it can be opened online, by phone, or by mail
- Whether a branch appointment is needed
- Whether every co-executor must sign or appear
- Whether the estate's EIN is needed before opening
- Whether the death certificate must be a certified copy
General information about each bank's published estate-account requirements, not legal or banking advice. Requirements vary by state and account type. Consult the institution for its current requirements. Data verified Oct 27, 2026
1st Source's published guidance does not state whether an estate account can be opened online. It states the account can be opened in a branch.
1st Source publishes no document list for estate accounts.
1st Source does not state the opening deposit, monthly fee, or fee-waiver balance for an estate account. The estate account carries the fees of whichever of 1st Source's 4 published accounts it is opened as.
An estate account is a bank account titled to the estate itself — not to the person who died and not to the executor personally. The court-appointed executor or administrator opens it to deposit money owed to the estate (final paychecks, refunds, proceeds from closed accounts), pay the estate's debts and expenses, and distribute what remains. Checks made out to "the Estate of" can only be deposited into an account titled this way.
The estate is its own taxpayer, separate from the person who died. Banks open estate accounts under the estate's Employer Identification Number (EIN) from the IRS, not the deceased's Social Security Number. The free EIN application prepares IRS Form SS-4 for the estate.
Sources
Data sourced from 1st Source primary sources (6 pages reviewed). How we research.
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Forms for Settling an Estate
Free forms for settling an estate: the probate petition, small estate affidavit, notice to creditors, inventory, and closing forms.
Petition for Probate and Letters
Open probate and ask the court to appoint you and issue Letters Testamentary or Letters of Administration.
Notice to Creditors
Notify estate creditors and start the claim period — the published notice plus mailed copies for known creditors.
Renunciation of Executor
Decline an appointment as executor named in a will — the writing filed with the court before anyone is appointed.
Affidavit of Heirship
Prepare the sworn statement of a deceased person's family history and heirs for recording in the county land records, with your state's recording instructions.
Small Estate Affidavit
Collect a small estate's property without probate — the sworn affidavit presented to banks and other holders, with a presentation letter for each.
Estate Inventory
Prepare the probate inventory of estate property — every asset at its date-of-death value, composed to your state's statute, with the state's filing or delivery instructions.
Tools for Settling an Estate
Free tools for settling an estate: whether probate is needed, executor and trustee pay, creditor deadlines, and inheritance taxes.
How Much Can an Executor Charge?
Calculate how much an executor can charge for administering an estate.
Can I Self-File Probate?
Whether your state lets you open probate yourself, and what it costs with a lawyer and without one.
How Do I Get Letters Testamentary?
See the court that issues Letters Testamentary or Letters of Administration, the petition, the bond, and the documents to file.
What Are the Creditor Claim Deadlines?
Find creditor claim deadlines, notice requirements, and payment priority order for your state.
What Happens When an Estate Is Insolvent?
See the order your state pays an insolvent estate's debts and which claims go unpaid.
How Do I Claim a Deceased Person's Unclaimed Property?
See where to search for a deceased person's unclaimed property and what each state asks an heir or executor to send.
