How Do I Open an Estate Account at MHV FCU?
MHV 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 MHV FCU
Where to open it
In a branch
How it opens
- In a branch
- Available
- Letters
- Certified within 180 days
Documents to bring
- Letters Testamentary or Letters of Administration from the Surrogate's Court, issued within the last 6 months
- Federal EIN for the estate
- Unexpired government-issued photo ID for each executor or administrator
- Completed Membership Application
Steps at MHV FCU
- 1Obtain Letters Testamentary or Letters of Administration from the Surrogate's Court, issued within the last 6 months; MHV does not accept the Will as proof of your authority.
- 2Apply to the IRS for the estate's federal EIN.
- 3Visit an MHV branch with the Letters, the EIN, and unexpired photo ID for every executor or administrator, and complete a Membership Application with a Member Service Representative.
What it costs
MHV FCU does not state the opening deposit, monthly fee, or fee-waiver balance for an estate account.
- Schedule that applies
- MHV Fee Schedule, effective March 10, 2025; no product is assigned to estate accounts
- Other charges
- Inactive account fee $5/month after 24 months of inactivity; dormant account charge after 36 months of inactivity
What to know at MHV FCU
MHV opens an estate account for a deceased non-member when all of the estate's beneficiaries or heirs are MHV members, and the executor or administrator does not need to be a member or even eligible. A check payable to the deceased goes into the estate account, not the deceased's own account, unless the maker reissues it to another payee. MHV charges $2 per month on an account whose Tax ID Number is invalid or missing.
Not in MHV FCU's published guidance
- Whether it can be opened online, by phone, or by mail
- Whether a branch appointment is needed
- Whether every co-executor must sign or appear
- 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 online banking, 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 13, 2026
MHV FCU's published guidance does not state whether an estate account can be opened online. It states the account can be opened in a branch.
MHV FCU asks for: Letters Testamentary or Letters of Administration from the Surrogate's Court, issued within the last 6 months; Federal EIN for the estate; Unexpired government-issued photo ID for each executor or administrator; Completed Membership Application.
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 MHV FCU primary sources (2 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.
