How Do I Open an Estate Account at MSUFCU?
MSUFCU 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 MSUFCU
Account type: Probate Estate Account, Spartan Saver
Where to open it
In a branch or by mail
How it opens
- In a branch
- Available
- By mail
- Available
Documents to bring
- Letters of Authority signed by the probate judge or court deputy/clerk, showing issue and expiration dates
- IRS-issued Employer Identification Number (EIN) for the estate
- Completed and signed Estate Account Application (form 714)
- Proof the deceased was an MSUFCU member at death, or that all estate beneficiaries hold primary memberships
- Full list of estate beneficiaries, including every person or entity receiving funds or property
- Government-issued identification for each personal representative, plus date of birth and Social Security number or TIN
Steps at MSUFCU
- 1Confirm that the deceased was an MSUFCU member at death, or that all beneficiaries of the estate hold primary membership on a personal MSUFCU account.
- 2Obtain Letters of Authority from the Michigan probate court and an EIN for the estate from the IRS.
- 3Download the Estate Account Application (form 714) from msufcu.org/documents/forms.
- 4Complete the application:
- Section A: whether the deceased was a member and their account number, plus a list of every estate beneficiary.
- Section B: estate name and mailing address, the EIN, the Letters of Authority issue and expiration dates, and identification for each personal representative.
- Section C: the checking and savings products the estate needs.
- Section D: the IRS certification and signature for each personal representative.
- 5Mail the signed application with the supporting documents to MSU Federal Credit Union, 3777 West Road / P.O. Box 1208, East Lansing, MI 48826-1208, or take it to a branch.
- 6Fund the estate's Spartan Saver share with at least $5.
- 7When the estate is settled, have MSUFCU close the Probate Estate Account; closing it is the personal representative's responsibility, and remaining funds are mailed as a check payable to the estate.
What it costs
- Opening deposit
- $5.00 into the estate's Spartan Saver share
What to know at MSUFCU
When the Letters of Authority expire, MSUFCU restricts access and services on the account, up to closing it, until extending documents from the court are produced. Loans are not available on a Probate Estate Account and its funds cannot be pledged as security. If the personal representative dies, MSUFCU freezes the account until the court appoints a successor, and then a new Probate Estate Account must be opened or the account closed.
Not in MSUFCU's published guidance
- Whether it can be opened online or by phone
- Whether a branch appointment is needed
- Whether every co-executor must sign or appear
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
MSUFCU's published guidance does not state whether an estate account can be opened online. It states the account can be opened in a branch or by mail.
MSUFCU asks for: Letters of Authority signed by the probate judge or court deputy/clerk, showing issue and expiration dates; IRS-issued Employer Identification Number (EIN) for the estate; Completed and signed Estate Account Application (form 714); Proof the deceased was an MSUFCU member at death, or that all estate beneficiaries hold primary memberships; Full list of estate beneficiaries, including every person or entity receiving funds or property; Government-issued identification for each personal representative, plus date of birth and Social Security number or TIN.
Opening deposit: $5.00 into the estate's Spartan Saver share.
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 MSUFCU 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.
