An Estate account is a new account opened after someone has passed away. The Executor can deposit all of the deceased person's money, pay debts and bills, and then ultimately distribute the money to the beneficiaries. Even if you have joint accounts with the deceased person, you will likely still want to do this to avoid risking mixing your personal money with the estate’s money, to make sure that there are no issues getting tax refunds and death benefits, and to reduce the risk of family conflict