savings account trust meaning - definition of savings account trust by Mnemonic Dictionary

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savings account trust

savings account trust - Dictionary definition and meaning for word savings account trust

Definition
(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 : savings bank trust , totten trust , trust account , trustee account

Word used in video below:
text: between a small savings account this

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