an account of property established with a trust company by a grantor, for distribution during or after the grantor's lifetime.
Also called trustee account .Banking. a savings account over which the depositor, while living, has sole control as trustee, and which upon the death of the depositor becomes payable to the beneficiary.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use trust account in a sentence
The Kajis say a portion of the revenue from the family business goes into trust accounts they’ve established for their children, and they have put all of Ryan’s TV earnings into another trust.How Ryan Kaji Became the Most Popular 10-Year-Old in the World | Belinda Luscombe | November 12, 2021 | Time
At Alford’s behest, according to the indictment, Don Gaetz met with an attorney to discuss how the money could be transferred to a trust account of his firm.Florida man charged in connection with overture to Matt Gaetz’s father about the investigation of his son | Matt Zapotosky | August 31, 2021 | Washington Post
At Growing Generations you put that money in a trust account and they disperse it for you as the expenses come in.
About six years ago I changed the deposits of your trust account to another bank.The Further Adventures of Quincy Adams Sawyer and Mason's Corner Folks | Charles Felton Pidgin
The directors wanted to know a little about him, and they found it was a trust account.A Damaged Reputation | Harold Bindloss
British Dictionary definitions for trust account
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
property under the control of a trustee or trustees
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012