Totten trust(redirected from Payable on Death (finance))
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|Noun||1.||Totten 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 payable to the previously named beneficiary|
trust - something (as property) held by one party (the trustee) for the benefit of another (the beneficiary); "he is the beneficiary of a generous trust set up by his father"