WordNet
n. 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 [syn: savings account trust, savings bank trust, trustee account, Totten trust]
Usage examples of "trust account".
We could set up the trust account so it would require three signatures for any withdrawal, and with our promissory notes being as good as the others, we could get in for any percentage we could dicker for.
As of Wednesday noon, the money would be in a trust account at the Washington bank, from which it could only be claimed by Mr.
I said that women often become confused about the way a trust account is set up.
It came to eight point eight million, and it too is currently drawing interest in my client trust account, less the two point one million that it took to satisfy your legitimate creditors.
She gets her trust account free and clear, and also gets a gob of money from the old man, himself.
The sum of $25,000 had been deposited in an educational trust account in her name.
Sends half his pay to mother and father for their support but they are moderately well-off and mother puts it in trust account for him: mother does same with money sent by his very wealthy sister Hightee Heller the Homeview star.
He was the attorney for the bank who handled her trust account, he explained.
Officially, it was owned by a Liechtenstein-based corporation, which had purchased it with a check written on a Swiss bank account, and each month the utilities and the association fees were paid by the Bank of America out of a trust account.
Shouper at the Casco Bank in Bridgton had explained to her that if the money was put in a special trust account, it plus the lottery money would make nearly all the outstanding mortgage payments over the next five years.