Sale model: With strategy, the Trust’s half of the LTCG allocates p% (30–70%) to principal and defers tax to Year 21+; the remaining (1−p)% is taxed in the sale year at the lesser of MFJ vs trust LTCG rates. Settlor’s half is taxed at MFJ LTCG. Without strategy, 100% is taxed at MFJ LTCG. Deferred trust LTCG is shown as a resource (untaxed) and not included in the 20‑year tax line. Ordinary DNI uses the lesser of MFJ vs trust ordinary brackets. NIIT and stacking effects are ignored for simplicity. Planning aid only—not tax advice.