An estate account is a bank account in the estate's name. Its purpose is to act as a temporary bank account to hold the estate's money while an executor deals with the day-to-day matters associated with administering the estate, such as paying debts and, ultimately, distributing the estate's assets to the deceased's beneficiaries. An executor needs to provide the bank with the required documentation to open an estate account, which usually includes proof of death. The executor must also apply for an employer identification number for the estate.