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One big name corporation in Atlanta has all it's aircraft placed in trusts, so that their whereabouts and business are kept private. (You will note that most if not all TVPX trust aircraft are blocked on sites like FlightAware - I can see them on ADS-B, but have no idea who they really are) TVPX is a high volume business.
Trusts exist all over the place, for a number of different reasons. From Farmers to Lottery winners. But the biggest reason is privacy.
Getting back on point, I don't think eliminating aircraft trusts is the solution. Instead, scrutinizing the Trustees to be more transparent for regulatory enforcement, yet protecting those who desire their anonymity. If we start eliminating aircraft trusts, what would be next? The trust for your children? For Charities?