What is an estate account (or called an estate bank account)?

What is an estate account (or called an estate bank account)? 

An estate account is a new bank account opened under a person’s name after they have passed away.

It is the account where the personal representative of the deceased deposits the deceased’s monies, including the proceeds from any asset sales.

[My note 1]: The money from the deceased's bank accounts and dividends of his SGX/CDP shares will be paid to the estate account of the deceased.

[My Note 2]: The personal representative of the deceased is the executor of the will with a Grant of Probate or the administrator Letters of Administration.

Edited from information source:

https://singaporelegaladvice.com/probate-mistakes-singapore/#:~:text=An%20estate%20account%20is%20a%20new%20bank%20account%20opened%20under,proceeds%20from%20any%20asset%20sales.

Ref. Estate20221115B