For all the scare stuff about N-reg trusts...
The FAA
is happy with individual trusts, of the kind that e.g.
SAC offer. What they don't like is some US bloke owning a load of planes in his own name, and what they don't like are trusts which conceal the trustor's (the beneficial owner's, in UK-speak) identity from the FAA.
Many high-end owners use trusts to conceal the owner's identity (and this includes many Americans, who could just own an N-reg in their own name) for various reasons and I guess the FAA is going to chip away around the edges to limit this.