Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
Trusts play important roles in the financial, estate, and tax plans of wealthy families. Evidence from US taxpayers indicates that the tax savings that they obtain from using trusts are rather modest, with one of the major tax benefits providing aggregate savings equal to just 0.05 per cent of the annual income of the top 0.01 per cent of US taxpayers. Trusts are primarily used to facilitate intergenerational and other transfers. Restrictions imposed by trusts can have the effect of preserving high levels of wealth and income, creating greater opportunities for governments to tax the rich.