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Typically, you need to provide the state court with the death certificate and the will, if there is one. The steps for beginning this process depend on the state in which the deceased person resided. The executor of the estate needs to follow these basic steps.Ä¡. While it might seem daunting to open an estate account, the process is actually quite straightforward. In an estate account, the only funds that can be deposited are those that belong to the estate. Having an estate account reduces the potential for liability falling on the executor's shoulders because there is less risk of commingling funds, which occurs when personal assets are mixed in with estate assets.In an estate account, the funds belong to the estate and can only be used for estate purposes. This means that they can legally use the funds in whatever ways they wish. When an account holder of a joint account passes away, the surviving joint account holders get title to the account's remaining funds. Having an estate account reduces the risk of your funds being used in a way that you would not want them used.However, avoiding joint accounts is typically a much better option for both your estate and your executor. In such a situation, the funds in a joint account would then transfer over to your child, who can then distribute the funds according to your wishes without having to go through probate. Benefits of an Estate AccountÄuring the estate planning process, the idea of adding a beneficiary, usually an adult child, to an existing bank account as a joint account holder can seem like an attractive, more efficient option than creating a will and then having your executor set up an estate account after you pass. The estate executor can use the funds held in the account to deal with day-to-day administration expenses as well as the final distribution of funds to the estate's beneficiaries. One of the first steps an executor of an estate should take is opening an estate account, a bank account held in the name of the estate of a deceased person.