Are trusts only good as tax shelters for the wealthy?

Contrary to what many people believe, trusts are not created primarily as tax shelters. Although they do come with certain tax benefits, trusts are most often used to ensure that your family will have the funds they need in the future, once you are no longer there to provide for them. Trusts also help your family avoid the need to go through the probate process which is time consuming and expensive. They can prevent the need for a court proceeding known as a conservatorship, as well, if you ever become incapacitated.