How Do I Open an Estate Account at Northern Trust?
Northern Trust opens estate accounts for a court-appointed executor or administrator. The documents it asks for, what the account costs, and the steps it lists are below.
Opening an estate account at Northern Trust
Where to open it
Not published by Northern Trust
In 6 of the 20 states Northern Trust operates in, state law lets a bank pay a deceased depositor's balance to family without letters testamentary or letters of administration. Pick a state for its rule.
How it opens
- Online
- Not available; 47 of the 153 banks here say the same
Documents to bring
- Court order appointing the personal representative, executor or administrator
- Name, address, date of birth, and a driver's license or other identifying documents
What it costs
Northern Trust does not state the opening deposit, monthly fee, or fee-waiver balance for an estate account.
- Schedule that applies
- Not stated for estate accounts; Account Descriptions & Fees, Effective August 1, 2025, which has a personal side and a non-personal side
| Account | To open | Monthly fee | Waiver or condition |
|---|---|---|---|
| Northern Anchor (Interest Checking) | $25,000 combined minimum initial deposit in all personal accounts | $25.00 | Average collected balance of $15,000.00 |
| Interest Checking | $25,000 combined minimum initial deposit in all personal accounts | $25.00 | Average collected balance of $10,000.00 or $25,000.00 combined average ledger balance |
| Non-Interest Checking | $25,000 combined minimum initial deposit in all personal accounts | $15.00 | Average collected balance of $2,000.00 or $20,000.00 combined average ledger balance |
| Basic Checking | $25,000 combined minimum initial deposit in all personal accounts | $7.00 | No waiver published |
| Premium Money Market Deposit Account | $25,000 combined minimum initial deposit in all personal accounts | $25.00 | Average collected balance of $10,000.00 |
| Statement Savings | $25,000 combined minimum initial deposit in all personal accounts | $5.00 | Average collected balance of $500.00 or $20,000.00 combined average ledger balance |
| Certificate of Deposit (personal schedule) | $25,000 combined minimum initial deposit in all personal accounts | None | |
| IRA Certificate of Deposit | $25,000 combined minimum initial deposit in all personal accounts | None | |
| Premium Money Market IRA | $25,000 combined minimum initial deposit in all personal accounts | None | |
| Basic Business Checking | $50,000 combined minimum initial deposit in all non-personal & personal accounts | $20.00 | Average collected balance of $5,000.00 |
| Non-Personal Interest Checking | $50,000 combined minimum initial deposit in all non-personal & personal accounts | $20.00 | Average collected balance of $5,000.00 |
| Non-Personal Northern Anchor | $50,000 combined minimum initial deposit in all non-personal & personal accounts | $25.00 | Average collected balance of $15,000.00 or $25,000.00 combined average ledger balance |
| Non-Personal Premium Money Market Deposit Account | $50,000 combined minimum initial deposit in all non-personal & personal accounts | $25.00 | Average collected balance of $15,000.00 |
| Certificate of Deposit (non-personal schedule) | $50,000 combined minimum initial deposit in all non-personal & personal accounts | None | |
| Analyzed Commercial Checking | $50,000 combined minimum initial deposit in all non-personal & personal accounts | $20.00 | Variable based on activity, less earnings credit |
| Analyzed Commercial Interest Checking | $50,000 combined minimum initial deposit in all non-personal & personal accounts | $25.00 | Variable based on activity, less earnings credit |
| Analyzed Interest Checking | $50,000 combined minimum initial deposit in all non-personal & personal accounts | $22.00 | No waiver published |
What to know at Northern Trust
Northern Trust's deposit agreement lets executors, administrators and personal representatives under court orders open fiduciary accounts, without Northern Trust acting as trustee or monitoring the letters. Its banking pages route new clients to Consult an Advisor or Request a Meeting. Every deposit product it prices requires a combined minimum initial deposit, $25,000 personal or $50,000 non-personal.
Not in Northern Trust's published guidance
- Whether it can be opened in a branch, by phone, or by mail
- Whether a branch appointment is needed
- Whether every co-executor must sign or appear
- Whether the estate's EIN is needed before opening
- 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 23, 2026
No. Northern Trust states an estate account cannot be opened online.
Northern Trust asks for: Court order appointing the personal representative, executor or administrator; Name, address, date of birth, and a driver's license or other identifying documents.
Northern Trust does not state the opening deposit, monthly fee, or fee-waiver balance for an estate account. The estate account carries the fees of whichever of Northern Trust's 17 published accounts it is opened as.
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.
Is this your situation?
Get a complete guide for your specific circumstances.
Forms for Settling an Estate
Free forms for settling an estate: probate petition, small estate affidavit, creditor notice and closing forms. Prepare each form for your state.
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 taxes. Run each tool for your state.
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 Letters Testamentary?
See the court that issues Letters Testamentary or Letters of Administration, the petition, the bond, and the documents to file.
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.
How Do I Claim a Deceased Person's Unclaimed Property?
See where to search for a deceased person's unclaimed property and what each state asks an heir or executor to send.
