Do I Have To Be Rich To Create A Trust?
When most people hear the word trust, they picture wealthy families, old money, or elaborate trust funds meant only for the ultra-rich. That misconception keeps many everyday families from exploring one of the most practical estate planning tools available.
Here’s the truth: you do not have to be rich to create a trust.
At its core, a trust isn’t about how much money you have — it’s about protecting what you’ve worked hard to build and making life easier for the people you love.
What Is a Trust, Really?
A trust is a legal arrangement that allows you (the grantor) to place assets—such as a home, savings, investments, or business interests—into a structure that is managed by a trustee for the benefit of your beneficiaries.
Rather than focusing on wealth, trusts focus on:
Control
Protection
Clarity
Privacy
For many families, a trust is simply a way to ensure that their wishes are followed without unnecessary court involvement or confusion.
Why a Trust Might Make Sense for You
You don’t need millions in assets for a trust to be useful. If you own a home, have retirement savings, or want to provide structure for your loved ones, a trust can offer meaningful advantages.
Planning for Healthcare and Long-Term Care
Certain types of trusts can help with Medicaid planning, allowing individuals to prepare for potential nursing home or assisted-living needs without completely exhausting their assets. Planning ahead can make a significant difference in preserving resources for a spouse or family members.
Protecting Vulnerable Loved Ones
Wills generally go through probate, which is a public court process. Trusts, on the other hand, typically avoid probate altogether.
For families who value discretion and privacy, a trust can be a far better option.
Potential Tax Advantages
In some cases, funding a trust can reduce the taxable value of an estate, helping preserve more assets for loved ones. While not every trust offers tax benefits, strategic planning can make a meaningful difference for some families.
Trusts Are Not One-Size-Fits-All
There are many different types of trusts, each designed for specific goals. Choosing the wrong type—or setting one up incorrectly—can lead to unintended consequences.
That’s why it’s important to speak with an estate planning attorney before deciding which approach is right for you. A short conversation can clarify whether a trust makes sense for your situation or whether another planning tool would be more appropriate.
Start Your Estate Plan With Confidence
Estate planning doesn’t have to be intimidating, and trusts aren’t reserved for the wealthy. If you want to protect your family, your home, or your legacy, now is the right time to explore your options.
Hyde Legal Group helps individuals and families create thoughtful estate plans that reflect their goals and provide peace of mind.
👉 Schedule a consultation to discuss whether a trust—or another estate planning strategy—is right for you.
Planning for Incapacity—Not Just Death
Estate planning also protects families if a parent becomes incapacitated due to illness or injury. Documents such as powers of attorney allow trusted individuals to:
Manage finances
Make medical decisions
Keep household obligations current
Without these documents, families may face court intervention during already stressful times.
👉 Related reading: What Is the Purpose of Durable Power of Attorney Documents?
Give Your Family Peace of Mind
Estate planning is an act of care. It provides clarity, stability, and reassurance during uncertain times—especially for young families.
Start Your Estate Plan With Confidence
New parents deserve peace of mind knowing their children will be protected no matter what the future holds.
Hyde Legal Group helps parents create estate plans that safeguard their children and reflect their values.
👉 Schedule a consultation to begin protecting your family today.
