Here's something I found on TUG - this is an excerpt from the booking reservations timeline for Wyndham, which has both owners of home resorts and owners of Club Wyndham Access (CWA) which is the trust. Presidential Reserve (PR), Margaritaville, VIP, Platinum and Founders are specific ownerships and ownership levels, some based on number of points owned and some based on home resorts owned (e.g., Margaritaville is sort of a mini-system within Wyndham). CWA members own a specific number of points, but they're not tied to any home resort.
Note that between 13-10 months, everyone who has a home resort can book it, and CWA members can book the CWA units but only the CWA units. The number of CWA units varies by resort and sometimes is very few, sometimes very many, depending on how many units Wyndham has acquired by whatever means. At 10 months, most Wyndham resorts can be booked by any owner. IOW, the home resort priority period is 3 months long (13 to 10 months).
I'm posting this just as an example of how a trust might integrate into DVC - at 11 months, owners like us could book home resorts up to the number of points they own at that resort, and trust owners could book trust resorts, up to the number of points they own and the trust owns at that resort (if the trust owns only 300 points at BWV, those points wouldn't go any farther than my 300 BWV points). At 7 months, booking would open to all, and both deeded owners and trust owners would be limited to the number of points they own. Again, this is just an example of how it might work!
Booking Reservations Timeline
14 Months
Margaritaville owners book home resort
PR owners can book home resort
13-10 Months
Everyone can book their home resorts
CWA can book CWA units in resorts
12 Months
PR owners can book all PR units
11 Months
Margaritaville owners can book other
Margaritaville resorts in system
10 Months
Everyone can book most Wyndham resorts
Platinum & Founders VIP can book
Margaritavilles