HyperDic: savings_account_trust

English > 1 sense of the expression savings account trust:
NOUNpossessionsavings account trust, savings bank trust, trust account, trustee account, Totten trusta savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime
English > savings account trust: 1 sense > noun 1, possession
MeaningA savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime; afterward the balance is payable to the previously named beneficiary.
Synonymssavings bank trust, trust account, trustee account, Totten trust
BroadertrustSomething (as property) held by one party (the trustee) for the benefit of another (the beneficiary)

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