| NOUN | possession | savings bank trust, savings account trust, trust account, trustee account, Totten trust | a savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime |
|---|
| Meaning | A 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. | |
|---|---|---|
| Synonyms | savings account trust, trust account, trustee account, Totten trust | |
| Broader | trust | Something (as property) held by one party (the trustee) for the benefit of another (the beneficiary) |
©2001-25 · HyperDic hyper-dictionary · Contact
English |
Spanish |
Catalan
Privacy |
Robots