savings account trust Synonyms
No Synonyms and anytonyms found
savings account trust Meaning
savings account trust (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
savings account trust Sentence Examples
- The savings account trust fund has been established to provide for the financial security of my children.
- I have designated my niece as the trustee of the savings account trust, responsible for managing the funds.
- The beneficiaries of the savings account trust are my three grandchildren, who will receive equal distributions upon reaching legal age.
- The trust agreement specifies that the principal of the savings account must be preserved, and only the interest earned can be distributed.
- The savings account trust provides tax benefits by reducing the taxable income of the trust and the beneficiaries.
- I have chosen to fund the savings account trust with a portion of my life insurance proceeds.
- The trustee of the savings account trust has the discretion to invest the funds in a manner that balances growth with preservation of capital.
- I have established a savings account trust to help my nephew overcome financial difficulties.
- The savings account trust is a flexible financial planning tool that can help achieve various financial goals.
- I recommend consulting with an attorney or financial advisor to explore the benefits and mechanics of establishing a savings account trust.
FAQs About the word savings account 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 pa
No synonyms found.
No antonyms found.
The savings account trust fund has been established to provide for the financial security of my children.
I have designated my niece as the trustee of the savings account trust, responsible for managing the funds.
The beneficiaries of the savings account trust are my three grandchildren, who will receive equal distributions upon reaching legal age.
The trust agreement specifies that the principal of the savings account must be preserved, and only the interest earned can be distributed.
