An act relating to the transfer of property to a trust

H.23 ensures that married couples in Vermont who transfer property they jointly owned (as tenants by the entirety) into a trust retain the same protection from their separate creditors as they had before the transfer. The law requires the trust to meet specific conditions, such as being revocable by one spouse alone or requiring both for amendments, to maintain this protection. This immunity ends if the marriage is dissolved by court order, such as through divorce. The bill applies to all trusts and related legal proceedings involving such property transfers.