tentative trust

Definition of "tentative trust"
  1. An account set up by a depositor in which another person is named as a beneficiary. This account exists on a tentative basis as the depositor can withdraw the funds at any point, and the trust only becomes irrevocable upon the depositor's death
How to use "tentative trust" in a sentence
  1. The father set up a tentative trust for his son, ensuring he'd have financial support after his passing.
  2. With a tentative trust, the depositor can manage and access the funds in the account until their demise.
  3. Tentative trusts are a type of contingency plan, providing security for the beneficiaries upon the death of the depositor.

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