trust account
3
4.4
- noun
- /trʌst əˈkaʊnt/
- Specialized
:
cuenta fiduciaria
- The funds for the children's education are kept in a trust account until they reach adulthood.
- client trust account
- trust account funds
- money in a trust account
The money has to go into a trust account.
- The money has to go into a trust account.
- But it could be the real estate brokerage holding it in their trust account.
- But instead of giving their employees the money, the money should be held in some kind of company trust account until the payroll tax is forgiven.
Examples
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We're going to go before the judge and say, "Judge, we have little money in the family, but there's $200 to $150,000 in my trust account."
Blog text (23) -
A medical trust account has also been set up for her at Chase Bank with account number 2902107970 and routing number 021000021.
Blog text (27) -
It's in a trust account.
-
We're going to move it into my trust account.
Blog text (23) -
Look, my money is held up in trust accounts, family holdings, that sort of thing.
-
One third will take care of your attorney fees, and within 24 hours, the $400 million will be wired to your trust account.
-
The written agreement should specify the circumstances under which client funds will be placed into and withdrawn from the attorney's trust account.
Academic text (1997) -
And all of that would have made a difference, if you think about it; that money would have already been in my trust account to be used for the purposes for which it was created.
Blog text (23) -
Jurisdictions vary on whether an advance fee deposit must be placed in a trust account, but it is always prudent to do so.
Academic text (1997) -
Irvin later returned $214,500 of the money with a check drawn on his trust account.
Academic text (2000)
Synonyms
275
6.8
An arrangement where one person holds property for another person's benefit
49
3.7
Money or property kept and managed by someone for another person's use
A savings account where one person manages money for someone who gets it when the account holder dies
A bank savings account you control now that gives the money to a named person after your death
A bank account where one person keeps and controls money for a named person who receives it after their death
How Big
453
2.8
327
3.9
- Formal
67
6.5
- Specialized
49
3.7
- Specialized
3
4.4
606
1.0
Surface Forms
Morphology
The basic meaning — an account associated with a legal trust — is readily inferable from combining 'trust' (a legal arrangement) and 'account' (a bank account), so a learner who knows both words will grasp that it is an account used for a trust. However, the precise legal details about trustees, beneficiaries and control/pay-out arrangements are technical and not fully predictable for a B1 learner, so the expression is only partially transparent.
Etymology
Trust account comes from the simple idea of trusting someone to keep money safe for another person. A trustee 'holds' and 'manages' the funds for the beneficiary, so a trust account is an account where one person keeps and looks after money that will go to someone else later.