TRUSTEE ACCOUNT
(noun)Definitions
There is 1 meaning of the phrase
Trustee Account.
Trustee Account - as a noun
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 (Exact Relations)
savings account trustsavings bank trusttotten trusttrust accountExample Sentences
"The trustee account is set up to manage the funds for the beneficiaries."
"The trustee account holder must act in the best interest of the trust's beneficiaries."
"She deposited a large sum of money into her trustee account."
"The trustee account is used to hold and distribute assets according to the trust document."
"The trustee account is separate from the personal accounts of the trustee."
