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.
Also called: trustee accounta 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
