An act relating to the transfer of property to a trust

This Vermont bill (S.3) modifies trust law to preserve creditor immunity for marital property transferred into trusts. It ensures that when married couples transfer property held as tenants by the entirety into a joint revocable or irrevocable trust (meeting specific conditions), the property remains protected from each spouse's individual creditors - just as if it remained held jointly outside the trust. Key conditions include the property staying in trust or being deeded back to the spouses as tenants by the entirety, and the trust structure requiring mutual consent for amendments. The law applies to all existing and future trusts and legal proceedings involving such property.