A common misconception is that the only people who have trusts are very rich people with lots of assets who are trying to... moreA common misconception is that the only people who have trusts are very rich people with lots of assets who are trying to avoid taxes. However, this isn’t true, and it’s not entirely dependent on how much money or property an individual has. If you’re thinking about getting your estate planning documents in order, you should know that you don’t have to have a lot of assets to create a trust and you may establish one for a number of different reasons.