It’s critical that the couple understand and adhere to the rules governing their acts. Married clients often establish a Family Trust to control the disposition of their assets
During their lifetimes, clients may transmute (that is, change the form of) property, whether from separate to community, from community to separate or from the separate property of one spouse to the separate property of the other spouse. A transmutation isn’t valid unless made in writing by an express declaration that’s made, joined in, consented to or accepted by the spouse whose interest in the property is adversely affected. The writing must contain language that expressly states that the characterization or ownership of the property is being changed.
The statutory scheme for enforcing money judgments against trusts, the limitations on that scheme when facing spendthrift clauses, and ways around those limitations.
