trust account

WordReference Random House Unabridged Dictionary of American English © 2025

trust′ account′, 

1. Business an account of property established with a trust company by a grantor, for distribution during or after the grantor's lifetime.
2. Business Also called trustee′ account′. Banking a savings account over which the depositor, while living, has sole control as trustee, and which upon the death of the depositor becomes payable to the beneficiary.

Collins Concise English Dictionary © HarperCollins Publishers::

trust account noun

1. Also called: trustee account a savings account deposited in the name of a trustee who controls it during his or her lifetime, after which the balance is payable to a prenominated beneficiary
2. property under the control of a trustee or trustees