Family trusts in Australia allow distribution of earning (and thus tax) to any of the beneficiaries. This has been reduced in recent years (people used to distribute tax to their kids) but still has a benefit.

It acts a lot like a joint account but with the choice of where the earnings go. Generally, this means any taxable profit gets distributed between the beneficiaries up to 180k per year (the max tax bracket for US) and from there it doesn’t matter. This is especially handy in later years if you are a couple and one of you stops working as you can distribute all income to the non-working person maximizing tax benefits.

How would this work? Basically, a duplicate of the Joint function but the income would be split each year up to the maximum tax bracket. It would only work for any beneficiaries that PL is aware of but with the new limitations around not distributing to children, I think this is less of an issue now.