I agree with everything you’ve said, but one clarification: you don’t even need a trust to pass the tax break down to your kid when you die. Sure, a trust can streamline that process, but it’s not required. At least everyone lucky enough to inherit benefits, not just those whose parents had the foresight (and the means) to create a trust.

> It’s feels like icky European feudalism.

Pairs nicely with the permitting processes that basically boil down to "thou shalt pay the guild"