Detailed answer — step-by-step guide

An estate bank account is a checking or savings account opened in the decedent’s estate name that the personal representative (executor or administrator) uses to collect estate funds and pay estate expenses, taxes, and distributions. In New Jersey, most banks will require two core items to open an estate account: authority from the Surrogate’s Court (letters showing you are the personal representative) and an Employer Identification Number (EIN) issued by the Internal Revenue Service (IRS) for the estate.

1. Confirm who has authority to act for the estate

If the decedent left a valid will, the named executor will usually apply to the Surrogate’s Court for letters testamentary. If there is no will, a court-appointed administrator (letters of administration) will be issued. Those letters are the document banks want to see to confirm you can act on behalf of the estate. You can find general information about Surrogate’s Courts in New Jersey at the New Jersey Courts website: https://www.njcourts.gov/courts/surrogates.html.

2. Obtain an EIN for the estate from the IRS

An estate must generally have its own EIN for banking and federal tax purposes (including filing a fiduciary income tax return, Form 1041, if required). The personal representative applies for the EIN with the IRS using Form SS-4. The IRS instructions and online EIN application are here: https://www.irs.gov/…/apply-for-an-employer-identification-number-ein-online, and the Form SS-4 information page is here: https://www.irs.gov/forms-pubs/about-form-ss-4.

Key points when applying for an estate EIN:

• Use the estate’s name (typically “Estate of [Decedent’s Name]”).
• List the personal representative as the responsible party on the SS-4; include the representative’s SSN or ITIN as requested.
• If you apply online, follow the IRS online tool instructions. If you cannot apply online (for example, banks sometimes want the paper EIN confirmation), you can submit Form SS-4 by fax or mail per the Form SS-4 instructions.
• After the IRS assigns the EIN, you typically receive a confirmation letter (IRS CP 575 or similar), which banks accept as proof of EIN.

3. Get certified copies of your Letters from the Surrogate’s Court

Banks commonly request certified (court-stamped) copies of letters testamentary or letters of administration. Contact the county Surrogate’s office where the decedent lived to request certified copies. The Surrogate’s office also issues certified death certificates when needed. Find your local Surrogate’s Court via the New Jersey Courts Surrogate page above.

4. Contact banks to learn their specific requirements

Banks differ slightly in documentation. Typical items banks ask for include:

• Certified copy of Letters Testamentary or Letters of Administration from the Surrogate’s Court
• Certified copy of the death certificate
• IRS EIN confirmation letter or SS-4 (showing the EIN)
• Personal identification for the personal representative (driver’s license, passport)
• A copy of the will (if one exists) — some banks want to see it

Call the bank in advance and confirm which documents they require and whether they need original or certified copies. Banks sometimes provide a fiduciary or estate-account packet that explains their requirements.

5. Open and use the estate account properly

When the account is open, use it only for estate business:

• Deposit estate checks and proceeds (life insurance payable to the estate, sale of assets, final paychecks, refunds, etc.)
• Pay valid estate debts, funeral expenses, taxes, and administration costs from the estate account
• Keep detailed records and preserve receipts for all deposits and disbursements
• Do not mix the personal representative’s personal funds with estate funds (avoid commingling)

6. Close the estate account when administration is complete

After paying debts, taxes, and administrative expenses and after distributing estate assets to heirs or beneficiaries according to the will or intestacy rules, close the estate account. You may need to provide the Surrogate’s Court with an accounting or petition for discharge in some cases. New Jersey’s probate and estate rules are part of the state’s estate law framework (Title 3B — Estates, Trusts, and Future Interests); for general statutory context see the New Jersey statutes information page: https://www.njleg.state.nj.us/statutes.

7. Tax considerations in New Jersey

New Jersey no longer has a separate estate tax as of recent changes, but the state administers inheritance tax and requires appropriate filings in some estates. For state tax questions or to confirm filing obligations, see the New Jersey Division of Taxation estate and inheritance tax information: https://www.state.nj.us/treasury/taxation/. For federal fiduciary tax returns, see the IRS Form 1041 resources: https://www.irs.gov/forms-pubs/about-form-1041.

Helpful hints

• Begin by locating the will and contacting the county Surrogate’s office — this starts the official appointment process.
• Apply for the EIN as soon as you are reasonably certain you will be the personal representative; having the EIN speeds up banking and tax filings.
• Bring certified copies (not photocopies) of letters and the death certificate to the bank. Many Surrogate’s offices can issue certified copies quickly for a small fee.
• Keep a separate ledger or digital record of every transaction made from the estate account; you may need these records for tax filings or to show beneficiaries and the court.
• If the estate holds investment accounts or retirement accounts, talk to financial institutions early — those accounts may have beneficiary designations that bypass probate and don’t require an estate account.
• If a bank refuses to open an estate account without additional documents, ask for a written list of requirements and consider calling another bank; requirements vary between institutions.
• Consider consulting a New Jersey attorney if the estate is complex, there are creditor disputes, or tax issues — an attorney can advise on accounting and possible filings with the Surrogate’s Court.