Banks need to be notified of death; they won't work it out alone. A bank account or investment account in the sole name of a decedent is a probate asset.How do I open an estate account? Just make an appointment at your local financial center and an associate will be happy to assist you. Many titles and bank accounts also allow you to name an automatic beneficiary to circumvent probate. The Transfer on Death Letter of Authorization enables distribution of a decedent's account holdings upon death. The Transfer on Death Letter of Authorization enables distribution of a decedent's account holdings upon death. Remember that legitimate creditors are entitled to be paid out of the assets in the estate, which includes the business. How do I open an estate account? Just make an appointment at your local financial center and an associate will be happy to assist you.