I'm torn. I feel trusts really do leverage loopholes that ordinary "Joes" cannot afford. But some of that money has been taxed already, some however has not.
I hope in the end there will be a compromise that doesn't re-tax and also closes some loopholes. I'll withhold judgment until I see something more material written.
Sounds like we may need to contact attorney Wildhack again.
We did in 2014 do a "Gift" maximum fourteen thousand - for our one offspring - one from me, one from spouse. Did someone else? When we file federal income tax joint return, I intend to ask CPA about required Gift tax form filing, too.
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