trust account
- 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.
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Dictionary.com Unabridged
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018
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
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Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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