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Shadow and Flame have posted a helpful painting guide on their blog for the Army of the Dead figures from Lord of the Rings. The process itself is essentially a series of washes and shows you how to go from this:
You can view the complete 12-step process at their blog. It helpfully lays out which paints were used and where paints were mixed, what the proportions were. While the figures used here were for Lord of the Rings, any fantasy game featuring undead models could use this scheme, or a variant of it.