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I have been appointed the executrix of my father's estate, and I need to open an estate bank account in which to deposit funds from the sale of his house/other items and from which to pay estate-related expenses.

However, the estate is probated in Kentucky, and I live several hours away. My local bank where I have my personal accounts offers estate accounts, but only in my state and a neighboring one, not from Kentucky estates. I've tried a couple of online banks (Capital One and Ally, to be specific), but they don't offer estate accounts at all. My father had an account at a local bank in Kentucky, so I'd considered checking there, but they're a small bank and they don't offer remote deposit (so I'd need to mail in my endorsed checks, which I'd prefer not to do, if possible).

How can I find a bank in which to open an account? Should I keep trying FDIC-insured online banks, or is it unlikely I'm going to find one? Start calling other local banks? Cross-reference banks that exist in both my state and Kentucky?

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    "cross-reference banks that exist in both my state and Kentucky?*" - yes, this. – littleadv Nov 14 '14 at 18:37
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    Even if you find one that allows online deposit of checks, there still may be a relatively low restriction on how much the check can be for--that caught me out when I was dealing with my father's estate. – mkennedy Nov 14 '14 at 18:55
  • @littleadv: I might have found an option using the cross-reference. Will need to go to a branch to let them review my paperwork (and make sure my court order is sufficient for their records), but the rep I spoke with seemed to think it would work. Thanks! :) – Ennael Nov 14 '14 at 19:45
  • @mkennedy: Yes, my local bank has these restrictions also, but was hoping an online-only bank would be more lenient (since there isn't a brick-and-mortar version to go to). I'll take reasonable driving distance as a close second, though. – Ennael Nov 14 '14 at 19:47
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When I was put in this position, I tried the bank that was in both my state and the probate state and was unsuccessful, thwarted by administration and paperwork related to where the death was and where I was. Best of luck if it works for you.

I was successful just using my local credit union. I'd suggest you look for a credit union near you and ask if they'll set up an estate account for you.

  • My personal bank that I mention in the question is a credit union, but there may be others in the area I haven't looked into yet. Thanks for the tip. – Ennael Nov 14 '14 at 19:42
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As recommended by littleadv, I searched online for lists of banks in both my state and the state where the will was probated. The first one I tried, PNC Bank, was a winner. They offered estate accounts, online banking, mobile deposit, and have local branches that are open on Saturday.

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I just went through this last month. The probate lawyer contacted the court and was told that the estate checking account could be opened at any bank that also has a presence in the state of the deceased. The concept is that the money then resides 'in the cloud' and is not strictly out-of-state. Good luck! Probate is the process of making simple tasks difficult and expensive.

  • What does this add beyond what the accepted answer offer. – JoeTaxpayer Aug 8 '17 at 21:28

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