A Totten trust (also referred to as a "Payable on Death" account) is a form of trust in the United States in which one party (the settlor of the trust) places money in a bank account or security with instructions that upon the settlor's death, whatever is in that account will pass to a named beneficiary. For example, a Totten trust arises when a bank account is titled in the form ", in trust for ".
Read more about Totten Trust: Origin, Totten Trusts Today
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“My time has been passed viciously and agreeably; at thirty-one so few years months days hours or minutes remain that “Carpe Diem” is not enough. I have been obliged to crop even the seconds—for who can trust to tomorrow?”
—George Gordon Noel Byron (1788–1824)