Not quite. A trust could be an appropriate part of the estate plan of anyone who owns property (including real estate, bank accounts, brokerage accounts and other investments, etc.). You don’t have to be wealthy to enjoy the advantages of a trust, such as avoiding probate, protecting your assets due to your incapacity, protecting your assets in the context of Medicaid planning, and keeping your estate plan private and out the public eye and the courts.
By Esther Schwartz Zelmanovitz
