If you're hunting with no license, wearing no orange, citing the landowner exemption, you're supposed to carry a written declaration to clarify your position if asked. "My name is XXXXXXX, and I'm the registered owner of this here property, thereby exempting me from a license and orange requirements".
If I had wrapped up my land into a trust and was no longer the titled landowner, my statement would read "This land is registered to the XXXX Trust, of which i'm a legal trustee. As such, I'm exempting myself from the licensing and orange requirements"
But then again, if I've had the means and foresight to wrap up my land holdings into a legal trust, I think I'm buying a $170 license for the year. Still cheaper than the ticket, or the lawyer you pay to fight the ticket, or the (minimal) risk of having the GW confiscate your stuff