trustee account (Meaning)
trustee account (n)
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 & Antonyms of trustee account
No Synonyms and anytonyms found
trustee account Sentence Examples
- The trustee account held funds in trust for the beneficiaries.
- The attorney transferred the settlement funds to a trustee account for the minor child.
- The real estate agent placed the earnest money into a trustee account pending closing.
- The court ordered the establishment of a trustee account to manage the assets of the incompetent person.
- The guardian opened a trustee account to handle the finances of the disabled ward.
- The trustee deposited the rental income into a trustee account for the landlord.
- The escrow agent maintained a trustee account for the buyer and seller funds during the transaction.
- The lawyer advised the client to set up a trustee account to protect the inheritance.
- The executor of the estate used a trustee account to pay creditors and distribute funds to heirs.
- The mortgage company required the borrower to establish a trustee account for property taxes and insurance premiums.
FAQs About the word trustee account
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 pa
No synonyms found.
No antonyms found.
The trustee account held funds in trust for the beneficiaries.
The attorney transferred the settlement funds to a trustee account for the minor child.
The real estate agent placed the earnest money into a trustee account pending closing.
The court ordered the establishment of a trustee account to manage the assets of the incompetent person.
