How Do I Open an Estate Account at F&M Bank?

F&M Bank asks for: Copy of the court order appointing the executor or administrator (Letters Testamentary / Letters of Administration) — required to verify that the person opening the account is the designated fiduciary and to determine the powers of the fiduciary; Name, address, date of birth, and taxpayer identification number (TIN) for the account, plus a driver's license, government-issued photo identification, or other identifying documents (per the bank's customer identification requirements for opening a new account); Any other documents the bank deems necessary.

F&M Bank's published guidance does not state a co-executor appearance rule. When more than one executor or administrator was appointed, confirm with F&M Bank whether all must attend.

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.