A Payable on Death (POD) account is easy to set up at your bank. Learn how to set up an estate account so that you can manage the deceased person's finances according to their wishes.Opening an estate bank account can make it easier for you to transfer the frozen assets so you can pay out what you need. The next step is opening a bank account for the estate. Bank of America accounts. Visit your local financial center or contact Estate Servicing Operations to speak with our dedicated team. Take the guesswork out of opening Trusts, Estate accounts and more. Make the process of opening an estate account simple and straightforward with this stepbystep guide. What you may need ; Trust. Accounts with arrangements to hold the assets in a trust.