Don't forget to take account of the tax forgiveness that is an integral part of trust acquisitions.  Tax payers actually do pony up to replace the forgiven taxes of easement and trust creation.   The 1% buys  amenity ranches all over the West, have  for decades,   by using trusts and conservation easements to cut their  investment taxes.     I could afford to buy a ranch myself,   but I don't have a few million bucks of gains I can erase  when I diminish the "value",  the commercial potential,  of the property by using  conservation easements and trusts.   Environmentalism is a rich man's or woman's game,  and the middle class gets to make up the tax forgiveness for property in private hands.  The public has no trespass rights,  but has the mind balm of knowing that interior fences were removed and no irrigation water is diverted.  Good hunting and fishing...for the 1%.