The trust we use today first took shape in a quite different time and place six centuries ago. Since then, its form has evolved; its uses have proliferated. In fact, the trust is widely used today precisely because it has adapted so well to changing needs and wants. (See, “A Brief History of Trusts,” page 46.) Now U.S. laws are beginning to evolve in ways that permit still more flexibility. An important part of the next stage will be the use of what might be called “open-architecture”
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