But since a lot of people set up these trusts when the exclusion was lower, a lot of trusts are still floating around - and complicating matters for heirs when estates are settled.
And that's why, when you find an honest merchant, that you do business with them and not the guy with the loud billboards and TeeVee advertisements, who promises the world and delivers nothing. If people would just stop doing business with crooks, a lot of crooked practice would simply go away. But for every honest car dealer, there are ten crooked ones - making a boatload more money. And folks gravitate toward the flashy ads, the promotions, and the "sales" like moths to the flame. It gets so bad that the last honest guy in the market goes bankrupt, and he sells out to the crooked competition. Or, he realizes that the only way to stay in business is to offer the same shitty (but profitable) deals his shady competitors are offering.
We create the world we are in. People bitch about the rates cable companies charge - and then pay the bills every month, for years on end. People complain about being "ripped off" but continue to engage in business deals with shoddy crooked folks.
And no, it isn't the law that failed them, it was them. Payday loan companies would go out of business overnight if everyone realized how crooked they are. Yet, when you attack companies like this, their most fervent supporters are their victims.
This is not to say there isn't hope. For-profit colleges such as "Phoenix" University (I am not sure which term should be in quotes!) are facing severe financial hardship - if not bankruptcy - as folks start to realize that a college that advertises on a billboard might not be such a swell deal.
Yes, we can protest for student loan reform. It likely will never happen - or not to the extent people want. But the real "solution" to the problem is not a legal one but a human one. If people stop making bad bargains, they will stop being ripped off. And if you are not sure if something is a bad bargain or not, then just consume a helluva lot less. Because chances are, the crap you think you need in your life is just another bad bargain - and your legal recourse, once you figure it out, is realistically zilch.
P.S. - and even when you have legal recourse, you are rarely made whole, and the whole hassle of trying to be made whole is more effort than simply seeking out a honest deal, or just consuming less. Justice begins at home!