How Do I Open an Estate Account at Schwab?
Schwab 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 Schwab
Account type: Schwab One Estate Account
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
- Co-executors
- All must sign or appear
- Letters
- Certified within 60 days
Documents to bring
- Completed Schwab One Estate Account Application (APP10639)
- Letters Testamentary or of Administration, court-certified as currently valid, with clerk's original signature and seal
- New, separate Taxpayer Identification Number (EIN) for the estate
- Executor's passport, driver's license, or government-issued ID number
Steps at Schwab
- 1Obtain a new, separate EIN for the estate from the IRS; the deceased's Social Security Number cannot be used.
- 2Download the Schwab One Estate Account Application from schwab.com, or call 866-232-9890 for help with it.
- 3Complete all sections of the application:
- Every co-executor who will conduct business in the account completes the Executor/Co-Executor Information section.
- All co-executors appointed by the court, even those not conducting business in the account, are listed and sign the Authorization to Open Account section.
- 4Attach a copy of your Letters Testamentary or Letters of Administration, certified as currently valid by the court clerk and bearing the clerk's original signature and seal.
- 5Mail the completed application with the required documents, or bring it to the nearest Schwab branch.
- 6Schwab sends the account number once it approves the application; use it to log in at Schwab.com.
What it costs
- Opening deposit
- $0 (Schwab One Estate Account)
- Monthly fee
- $0 (Schwab One Estate Account)
- Fee waived at
- Not applicable; the monthly service fee is $0 with no balance threshold
- Other waivers
- "Other fees may apply" under Schwab's general fees-and-minimums schedule; $0 commissions apply to online listed stock and ETF trades
- Schedule that applies
- Schwab One Estate Account published pricing, backed by the general Charles Schwab pricing guide; a brokerage account, so no deposit fee schedule governs it
- For estate accounts
- Schwab names an estate product, the Schwab One Estate Account, and prices it directly: "Account opening minimum: $0" and "Monthly service fees: $0"
| Account | To open | Monthly fee |
|---|---|---|
| Schwab One Estate Account | $0 | $0 |
Once it is open
- Online banking
- Available
What to know at Schwab
Schwab's estate account is a brokerage account, and it opens only while the estate is being probated under court supervision and before a final decree of distribution is entered. An executor or administrator cannot delegate powers to a third party through a power of attorney unless a court order authorizes it. A testamentary trust uses the Schwab One Trust Account Application instead.
Not in Schwab's published guidance
- Whether a branch appointment is needed
- Whether the deceased must have banked there
- Whether an out-of-state executor can open one
- Whether the death certificate must be a certified copy
- What proof of the EIN it accepts
- Whether the account comes with checks, a debit card, or mobile deposit
- How the deceased's balances reach the estate account
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 23, 2026
No. Schwab states an estate account cannot be opened online. It states the account can be opened in a branch or by mail.
Schwab asks for: Completed Schwab One Estate Account Application (APP10639); Letters Testamentary or of Administration, court-certified as currently valid, with clerk's original signature and seal; New, separate Taxpayer Identification Number (EIN) for the estate; Executor's passport, driver's license, or government-issued ID number.
Opening deposit: $0 (Schwab One Estate Account). Monthly fee: $0 (Schwab One Estate Account). Schwab names an estate product, the Schwab One Estate Account, and prices it directly: "Account opening minimum: $0" and "Monthly service fees: $0". Schwab's 1 published account is 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 Schwab primary sources (4 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.
