Totten trust

名词 n.
中文释义

英文释义

名词 n.
  1. 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.

词形变化

Totten trusts plural

词源

Derived from Matter of Totten, 179 N.Y. 112 (1904), the case decided by the Court of Appeals of New York which established the legality of this practice.
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