☩ SOTERIAN GLOSSARY ☩

Living Language Lexicon of the Soteria Covenant

Totten Trust

A bank account in trust — the depositor maintains control during their lifetime, and upon death the funds pass to the named beneficiary. A revocable trust created by the act of depositing funds.

Category: Trust Law · Source: In re Totten, 179 N.Y. 112 (1904)
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