How Do I Open an Estate Account at Third Federal?
Third Federal 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 Third Federal
Account type: Decedent Estate Account
Where to open it
Not published by Third Federal
How it opens
- Online
- Not available
Documents to bring
- Original or certified copy of appointment papers: Letters of Testamentary, probate court documents, domiciliary letters, Letters of Appointment, or Letters to General or Special Administration
- Employer Identification Number (EIN) issued for the estate
- Identification documentation for the executor or personal representative
Steps at Third Federal
- 1Obtain an Employer Identification Number (EIN) for the estate.
- 2Review the estate with a Third Federal associate by phone at 1-844-798-7784 or at a branch in Ohio or Florida.
- 3Present the original or a certified copy of your appointment papers, the estate's EIN and your identification.
What it costs
Third Federal does not state the opening deposit, monthly fee, or fee-waiver balance for an estate account.
- Schedule that applies
- Deposit Account Fee Schedule, Effective March 6, 2025, the bank's one deposit schedule; it assigns no product to an estate account
- For estate accounts
- Third Federal's one Deposit Account Agreement lists a "Decedent Estate Account" among its account-ownership types, and the bank publishes a single Deposit Account Fee Schedule covering checking, savings and certificate of deposit accounts; the schedule itself names no estate or fiduciary account
- Other charges
- Dormant Service Charge $12.00 if account balance is less than $100 and there has been no activity for 24 consecutive months
| Account | To open | Monthly fee | Waiver or condition |
|---|---|---|---|
| Interest Checking | $10 | $12.00 | autopay on a Third Federal loan, or a $1,500 aggregate balance in checking, savings and/or certificate accounts |
| Interest Savings | $10 | ||
| Money Market Savings | $5,000 ($2,000 for Retirement accounts (IRA)) | ||
| Certificates of Deposit | $500 |
Once it is open
- Online banking
- Available
What to know at Third Federal
Third Federal opens the Decedent Estate Account in the name of the personal representative, administrator or executor of the estate, and its branches are in Ohio and Florida. For the deceased customer's own accounts, the executor completes a notarized Letter of Instruction telling Third Federal where to send or transfer the disbursed funds.
Not in Third Federal's published guidance
- Whether it can be opened in a branch, by phone, or by mail
- Whether the deceased must have banked there
- Whether an out-of-state executor can open one
- Whether the account comes with 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 24, 2026
No. Third Federal states an estate account cannot be opened online.
Third Federal asks for: Original or certified copy of appointment papers: Letters of Testamentary, probate court documents, domiciliary letters, Letters of Appointment, or Letters to General or Special Administration; Employer Identification Number (EIN) issued for the estate; Identification documentation for the executor or personal representative.
Third Federal does not state the opening deposit, monthly fee, or fee-waiver balance for an estate account. Third Federal's one Deposit Account Agreement lists a "Decedent Estate Account" among its account-ownership types, and the bank publishes a single Deposit Account Fee Schedule covering checking, savings and certificate of deposit accounts; the schedule itself names no estate or fiduciary account. Third Federal's 4 published accounts are listed above with their fees and waivers; the estate account carries the fees of the account 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.
Sources
Data sourced from Third Federal primary sources (8 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.
