| 释义 |
Totten, n. U.S.|ˈtɒt(ə)n|
[f. the name William H. B. Totten, administrator of the estate of Frances A. Lattan, and party in the case v. Emile R. Lattan (1902, in N.Y. Suppl. LXXVII. 928).]
Totten trust, a tentative trust in which the depositor opens a savings account as trustee for another, but retains the right to revoke the trust during his or her own lifetime.
1932N.Y. Suppl. CCLVII. 580 The form of its holding was what has come to be known as a Totten trust, the characteristics of which are that title is vested in the record owner, who, during his life, holds it on a revocable trust for the named beneficiary. 1944Federal Reporter (U.S.) (2nd. ser.) CXLIII. 46 The Commissioner also contends that trusts were ‘Totten’ or ‘tentative’ trusts and hence were invalid or at the best revocable... Every bank deposit in trust is not a Totten trust. 1973N.Y. Law Jrnl. 24 July 11/3 The sole assets of Mrs. Samnick..were funds which had been deposited by her in three Totten trust accounts for the benefit of her..grandson. 1988ABA Banking Jrnl. Mar. 7/1 Another type of account..is the testamentary account. Forms of these include the revocable trust account, a tentative or ‘Totten’ trust account, and the ‘payable-on-death’ account. |