Should a Trust either Own or be a Beneficiary Of a Non-Qualified Annuity Durable Powers of Attorney for Health Care and Property Pending Legislation

Tenants by the Entirety Pending Legislation

Tenants by the entirety is a form of ownership available to spouses on their primary residence.  Holding title as tenants by the entirety provides spouses greater creditor protection for their home.  This creditor protection is lost when spouses convey their primary residence into revocable living trusts for estate planning purposes.  HB5282, if passed, would continue the creditor protection when the primary residence is conveyed to a revocable living trust where both the husband and wife are the primary beneficiaries of the trust(s) and the document specifically states that the interests of the husband and in the primary residence is held as tenants by the entirety.

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