How Do I Open an Estate Account at BCU?
BCU opens estate accounts for a court-appointed executor or administrator. The account is opened in a branch or by mail. The documents it asks for, what the account costs, and the steps it lists are below.
Opening an estate account at BCU
Account type: Regular Savings, PowerPlus Checking
Where to open it
In a branch or by mail
How it opens
- In a branch
- Available
- Online
- Not available
- By phone
- Not available
- By mail
- Available
- Appointment
- Not required
- Estimated time
- 2-3 business days for the membership to be opened once all documents are received
Who can open it
- Existing customer
- Not required
- Membership
- Required
Documents to bring
- Membership application in the name of the estate (wet signature required if completed from the web link)
- Completed W-9
- EIN confirmation letter for the estate
- Court documentation naming the Executor of the Estate (Letters Testamentary or Letters of Administration)
- Copy of the certified death certificate (if the estate was established because of a death)
- Copy of the executor's driver's license or other government-issued ID
Steps at BCU
- 1Obtain the estate's EIN from the IRS; BCU needs the EIN confirmation letter to open the account.
- 2Complete the membership application in the estate's name; BCU can send it by DocuSign, and an application completed from the web link needs a wet signature.
- 3Send the documents by mail to BCU, Attn: Member Operations, 340 N. Milwaukee Avenue, Vernon Hills, IL 60061, by fax to Member Operations at 224-207-2624, or drop them off at a branch.
- 4If more documents are needed, the BCU Specialty Team emails you from specialty@bcu.org.
What it costs
BCU does not state the opening deposit or monthly fee for an estate account.
- Schedule that applies
- Not stated for estate accounts; candidate: Service Charge and Fee Schedule in the Consumer Member Service Agreement (CMSA 06-01-2026)
- For estate accounts
- The estate enrollment form (APP-0823) offers a single product, PowerPlus Checking, described as having "no monthly maintenance fees". The Consumer Member Service Agreement provides for accounts "to hold the funds of an estate"; the Business Member Service Agreement has no counterpart.
- Other charges
- Dormant Account Fee $25, charged quarterly after 12 consecutive months without member-initiated activity when the total account balance is less than $1,000
| Account | To open | Monthly fee |
|---|---|---|
| PowerPlus Checking | None | No monthly maintenance fees |
| Go Checking | None | No monthly maintenance fees |
| Regular Savings | $1.00 | |
| Benefits Checking | $8.95 |
Once it is open
- Deceased's balances
- Moved directly into the estate account
What to know at BCU
BCU opens the estate as its own member, with a membership application in the estate's name and its own member number, not as a sub-account of the deceased's membership. BCU may apply its lien and contractual security interest to the deceased's share balances for any debt owed to BCU before those funds reach the estate account.
Not in BCU's published guidance
- Whether every co-executor must sign or appear
- Whether an out-of-state executor can open one
- Whether the death certificate must be a certified copy
- Whether the account comes with online banking, checks, a debit card, or mobile deposit
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 Sep 17, 2026
No. BCU states an estate account cannot be opened online. It states the account can be opened in a branch or by mail.
BCU asks for: Membership application in the name of the estate (wet signature required if completed from the web link); Completed W-9; EIN confirmation letter for the estate; Court documentation naming the Executor of the Estate (Letters Testamentary or Letters of Administration); Copy of the certified death certificate (if the estate was established because of a death); Copy of the executor's driver's license or other government-issued ID.
BCU does not state the opening deposit or monthly fee for an estate account. The estate enrollment form (APP-0823) offers a single product, PowerPlus Checking, described as having "no monthly maintenance fees". The Consumer Member Service Agreement provides for accounts "to hold the funds of an estate"; the Business Member Service Agreement has no counterpart. BCU's 4 published accounts are listed above with their fees and waivers; the estate account carries the fees of the account 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 BCU primary sources (7 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 Appointed as Executor?
See the court, petition, bond, and documents needed to be appointed and receive your Letters.
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.
What Is the Estate's Personal Property Worth for Probate?
Estimate the fair market value of household items for probate and see how it affects fees.
