n.a savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime; afterward the balance is payable to the previously named beneficiary
Reaching a final settlement with the Osage Tribe on its trustaccounting and trust mismanagement claims has been a priority for the Department of Justice and the Department of the Interior.
Attorney General Holder and Secretary Salazar have been committed to resolving pending tribal trustaccounting and trust mismanagement cases, in a fair and equitable manner and without protracted litigation, so that the United States and the tribes can jointly undertake reconciliation and empowerment for American Indian nations.
First, Congress has authorized the Cobell settlement, an agreement that will resolve the 14-year, highly contentious class action lawsuit regarding the U.S. government's trust management and accounting of individual American Indian trust accounts.