American trusts have evolved from distinct models into more aligned, competitive tools in global wealth planning. This session explores their history, compares newer foundation laws with established jurisdictions, and highlights how families can manage legal and regulatory risks in this changing landscape. Their relationship with offshore trusts has been a story of mutual evolution - from mutually exclusive only 25 years ago to aligned, comparable and competitive today, an outline of the similar yet contrasting evolution of both the US domestic and offshore trust sectors.