| / English Dictionary |
TOTTEN TRUST
| Pronunciation (US): |  | (GB): | |
I. (noun)
Sense 1
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
Synonyms:
savings account trust; savings bank trust; Totten trust; trust account; trustee account
Classified under:
Nouns denoting possession and transfer of possession
Hypernyms ("Totten trust" 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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