The decision to establish a trust is not solely determined by net worth, as trusts can serve various purposes beyond wealth management, such as incapacity planning, privacy, and control over asset distribution. While higher net worth individuals may find trusts particularly beneficial for estate planning, asset protection, and tax efficiency, individuals with more modest estates can also benefit from trusts for specific purposes such as providing for minor children, managing assets in the event of incapacity, or ensuring specific wishes are carried out after passing.