savings bank trust
- noun
- Formal
:
fideicomiso de ahorros
- She set up a savings bank trust so her grandson would inherit the money after her death.
Examples
-
The terms of the savings bank trust allowed her to manage the funds during her lifetime.
-
Many people use a savings bank trust to ensure their assets are passed on directly to beneficiaries.
-
He opened a savings bank trust for his daughter.
-
The savings bank trust was established to protect her assets.
-
She set up a savings bank trust to ensure her grandson receives the money after her death.
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Many people create a savings bank trust to manage their assets for designated beneficiaries.
-
The savings bank trust provided her with control over the funds until her passing.
Synonyms
3
4.4
A bank account where one person holds and manages money for another person who will get it later
A bank savings account you control now that gives the money to a named person after your death
A savings account where one person manages money for someone who gets it when the account holder dies
A bank account set up so the money goes to a named person when the owner dies
How Controlled
- Specialized
275
6.8
- Formal
- Specialized
1
6.1
50
2.3
Surface Forms
Morphology
The noun is largely compositional: a B1 learner who knows 'savings', 'bank' and 'trust' can infer it's a trust arrangement involving savings held at a bank (i.e., a bank trust for saved funds). However, the precise legal details (trustee control during lifetime, named beneficiary and payout after death) are specialized and not fully predictable from the constituent words, so the meaning is not completely transparent.
Etymology
Savings bank trust comes from the idea of a savings bank (a safe account for money) and a trust (one person keeping money for someone else). In this arrangement a person keeps control of the account while alive and the money goes to the named 'beneficiary' after their death, so the term means 'an account held for the person who will get the funds'.