Estate Accounts can be opened at any First Community location. This type of account is opened for the purpose of holding funds for a short period of time while the Personal Representative settles the estate of the deceased. Estate accounts have many stipulations and require specific documents. We have listed these below.


Required Documents

There are some documents needed to open an Estate account and remain in compliance with the law.


  • The EIN letter from the Department of the Treasury/Internal Revenue Service
    • This is obtained from the Department of the Treasury/Internal Revenue Service
  • Letters of Administration or Letters Testamentary naming the Personal Representative
    • MUST be issued within the past 12 months
  • Valid ID for the Personal Representative


Additional Information

Some things to consider before opening an Estates account:


  • Wills are not valid for disbursement of funds
    • Wills must go to probate court
      • Probate Court will issue Letters of Administration or Testamentary appointing a Personal Representative to collect and disburse the funds belonging to the estate of the deceased
  • Estate accounts cannot have Beneficiaries
  • A checking account can be added at your request, however, Estate accounts are not eligible for Overdraft Privilege, an ATM/Debit card, Audio PIN or online access. Estate accounts cannot be linked online to any other account