It is important to remember that you do not need to be considerably wealthy to benefit from having a living trust. Some of the biggest reasons that individuals set up trusts include:nnThey like the privacy of knowing that any assets named in their living trust will not become public record.nThey have discovered that they can save their beneficiaries’ money by creating a living trust.nThey have property in multiple states and can avoid state-specific probate by putting the property into a trust.