trust account

trust account

n 1. (Banking & Finance) Also called: trustee account a savings account deposited in the name of a trustee who controls it during his lifetime, after which the balance is payable to a prenominated beneficiary 2. (Law) property under the control of a trustee or trustees

Thesaurus

Noun

1.

trust account - 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 beneficiarysavings account trust, savings bank trust, Totten trust, trustee accounttrust - something (as property) held by one party (the trustee) for the benefit of another (the beneficiary); "he is the beneficiary of a generous trust set up by his father"

Translations

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