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Finance Glossary

Just call us Bond. Amortized bond.

Over 700 finance terms, Shmooped to perfection.

Account In Trust

Definition:

"In account we trust."

An account in trust is an account held for someone else (usually because that someone else is a minor). The idea is that the adult manages the account because the person named on the account can't manage it themselves.

Example

When Uncle Joe manages the account for little Sally, Sally trusts Joe. She's a minor and knows that Joe will manage the account for her with all due good intent until she turns 18—and can then go shopping for Beemers.

UTMA is an example of an "Account in Trust."