Which reminds me: there are of course plenty of foreign jurisdictions that allow you to create multi-generational trusts (or trust-like devices) without any problem.
If you were establishing a multi-generational trust you'd want to put it in a politically, economically, and legally stable jurisdiction. Historically those options were limited to the U.S., U.K., and maybe a couple of other European nations. That's less the case now. But who knows what the world will look like in a 100 years. There's plenty of reason to want to keep money in the U.S. So I wouldn't argue that U.S. law is inconsequential in the face of foreign options. I just don't see us returning to an earlier time wrt restraints on generational wealth transfers. The viability of foreign options makes it even more difficult to reverse the trend.
If you were establishing a multi-generational trust you'd want to put it in a politically, economically, and legally stable jurisdiction. Historically those options were limited to the U.S., U.K., and maybe a couple of other European nations. That's less the case now. But who knows what the world will look like in a 100 years. There's plenty of reason to want to keep money in the U.S. So I wouldn't argue that U.S. law is inconsequential in the face of foreign options. I just don't see us returning to an earlier time wrt restraints on generational wealth transfers. The viability of foreign options makes it even more difficult to reverse the trend.