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TRUST ACCOUNT

Pronunciation (US): 

 Dictionary entry overview: What does trust account mean? 

TRUST ACCOUNT (noun)
  The noun TRUST ACCOUNT has 1 sense:

1. 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

  Familiarity information: TRUST ACCOUNT used as a noun is very rare.


 Dictionary entry details 


TRUST ACCOUNT (noun)


Sense 1trust account [BACK TO TOP]

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

Classified under:

Nouns denoting possession and transfer of possession

Synonyms:

savings account trust; savings bank trust; Totten trust; trust account; trustee account

Hypernyms ("trust account" is a kind of...):

trust (something (as property) held by one party (the trustee) for the benefit of another (the beneficiary))


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