Definition of totten trust Totten trust
We found 2 definitions of totten trust from 2 different sources.
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What does totten trust mean?
WordNet
Noun |
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| totten trust - 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 | ||
| savings account trust, savings bank trust, trust account, trustee account, Totten trust | ||
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Wiktionary 
- totten trust (Noun)
A form of trust created where one party the settlor of the trust places money in a bank account or security with instructions that upon the settlor's death, whatever is in that account will pass to a named beneficiary.
