Should an executor open a separate bank account for the estate in Ontario?

Yes — opening a dedicated estate bank account is strongly recommended and is standard practice in Ontario. An executor should not mix estate funds with their own personal money. Commingling funds makes it very difficult to account for the estate's transactions and can expose the executor to personal liability.

To open an estate account, the bank will typically ask for a certified copy of the death certificate, proof of the executor's authority (usually the Certificate of Appointment or, in some cases, the will itself if the bank will accept it), and personal identification. The account is held in the name of "the Estate of [Deceased's Name]," not in the executor's own name.

All estate income — rent, investment returns, proceeds of asset sales — should flow into this account. All estate expenses — funeral costs, legal fees, taxes, and eventually distributions to beneficiaries — should be paid from it. This creates the clear, traceable paper trail an executor needs if beneficiaries ever request an accounting or dispute the administration.