How Do I Open an Estate Account at First Command?
First Command's estate-account opening requirements: where the account can be opened, the documents to bring, and the EIN requirement.
Opening an estate account at First Command
Opening channels
- In a branch
- Not stated
- Online
- Not stated
- By phone
- Not stated
- By mail
- Not stated
- Appointment
- Not stated
- Co-executors
- Not stated
Documents to bring
- Court appointment as executor or administrator -- the Depository Agreement permits fiduciary accounts to be opened by persons named "as executors, administrators, or conservators under court orders" (Letters Testamentary or Letters of Administration)
- Identifying information required by the bank's new-account procedures: name, address, date of birth, and other identifying information; the bank may also ask to see a driver's license or other identifying documents
What to know at First Command
First Command Bank's Depository Agreement and Disclosures (form 14-39-E) affirmatively authorizes fiduciary accounts opened by executors and administrators under court orders, but the bank publishes no estate-account product page, no opening channel, no document checklist beyond the general new-account identification procedures, and no estate-specific minimum deposit -- the Schedule of Fees and Charges (form 1482-E) lists no estate account type; its published $25 minimums apply to the standard checking, savings, and money market types. Two practical gates: (1) the bank states it "only does business with existing customers, employees and their family members, and affinity partner relationships of First Command Bank, its parent company and affiliates," so an executor opening an estate account will be working within that client relationship; (2) the bank has a single branch (1 FirstComm Plaza, Fort Worth, TX) -- in-person service otherwise means the Financial Advisor office network, and Personal Banking is reached at 1-888-763-7600. The agreement also disclaims any duty on the bank's part to monitor or enforce the terms of the letters.
This guide summarizes each bank's published estate-account requirements and is not legal or banking advice. Requirements may vary by state and account type.
Frequently Asked Questions
First Command's published guidance does not state whether an estate account can be opened online.
First Command asks for: Court appointment as executor or administrator -- the Depository Agreement permits fiduciary accounts to be opened by persons named "as executors, administrators, or conservators under court orders" (Letters Testamentary or Letters of Administration); Identifying information required by the bank's new-account procedures: name, address, date of birth, and other identifying information; the bank may also ask to see a driver's license or other identifying documents.
First Command's published guidance does not state a co-executor appearance rule. When more than one executor or administrator was appointed, confirm with First Command 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.
Sources
Data sourced from First Command primary sources (3 pages reviewed). How we research.
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