Notwithstanding any provision of Act No. 317 of the Public Acts of 1947 or any other provision of this act, any other person may rely, and shall be fully protected in so doing, upon the right of the husband or the wife to receive, manage, control, dispose of, or otherwise deal with property standing in his or her name in such manner that, by law, but for the provisions of said acts, he or she would be entitled so to deal therewith.