Classification of property as community property — Enforcement — Duration — Management and control — Effect of distributions

(a) Whether or not both, one (1) or neither is domiciled in this state, spouses may transmute any or all of their property to community property by transferring property to a community property trust.

(b) A community property trust is enforceable without consideration.

(c) All property owned by a community property trust will be community property during marriage.

(d) The right to manage and control property that is transferred to a community property trust is determined by the terms of the trust.

(e) When property is distributed from a community property trust, it shall no longer constitute community property.