How Do I Open an Estate Account at Maine Savings FCU?
Maine Savings FCU 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 Maine Savings FCU
Where to open it
In a branch
How it opens
- In a branch
- Available
- Online
- Not available
- Co-executors
- One may open the account
Documents to bring
- Copy of the documentation addressing the fiduciary purpose
- Government-issued photo ID for the fiduciary, plus proof of authority to act as fiduciary
- SSN or EIN certified on behalf of the fiduciary purpose
- $5 share deposit
- Name, physical address, date of birth, taxpayer identification number and identifying documents
Steps at Maine Savings FCU
- 1Visit a Maine Savings branch with the probate court's appointment documents, your photo ID, the estate's EIN and the $5 share deposit.
What it costs
- Opening deposit
- $5 share deposit establishes membership; Maine Savings publishes no estate-specific minimum
What to know at Maine Savings FCU
Maine Savings opens an estate account under its Accounts for Fiduciary Purposes ownership type, and on request writes the full name of the fiduciary purpose into its records. It may require anyone associated with the estate to sign a hold-harmless and indemnification agreement, and the fiduciary pays for any legal advice the credit union requires. Estate account funds are insured by the NCUSIF up to $250,000 for each different decedent.
Not in Maine Savings FCU's published guidance
- Whether it can be opened by phone or by mail
- Whether a branch appointment is needed
- Whether the estate's EIN is needed before opening
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 13, 2026
No. Maine Savings FCU states an estate account cannot be opened online. It states the account can be opened in a branch.
Maine Savings FCU asks for: Copy of the documentation addressing the fiduciary purpose; Government-issued photo ID for the fiduciary, plus proof of authority to act as fiduciary; SSN or EIN certified on behalf of the fiduciary purpose; $5 share deposit; Name, physical address, date of birth, taxpayer identification number and identifying documents.
Opening deposit: $5 share deposit establishes membership; Maine Savings publishes no estate-specific minimum.
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 Maine Savings FCU 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.
