It is a common misconception that you should only create a trust if you are rich. This is not necessarily the case. There are many reasons why you might wish to create a trust, and trusts are definitely not only for wealthy people. In fact, it could be even more important to you to create a trust if you are middle class and your ability to leave a legacy could be put at risk by high nursing home care costs.
Trusts can be created to provide more privacy in the transfer of assets after death, to protect assets from being lost during your lifetime or after you pass on, and to facilitate the timely transfer of trust assets to heirs or beneficiaries who may be counting on an inheritance in order to maintain their quality of life. You should work with Parman & Easterday to determine if a trust should be part of your plans to accomplish your goals for your legacy and for the protection of your loved ones.