No. While the perception is that a Trust is only for the ultra-wealthy, a Trust can have beneficial applications for individuals who have more modest financial circumstances. A properly drawn Trust can expedite the transfer of assets to a decedent’s heirs, defer or avoid federal and state death taxes as well as avoid state probate fees. When utilizing a corporate Trustee such as Old North State Trust, a decedent’s spouse, and heirs are relieved of the hardship and burdens of marshaling and safekeeping of assets, accounting for all Trust receipts and disbursements, managing special assets (i.e., income-producing real estate, farmlands, undeveloped real property, Sub-Chapter S Corporations, LLC’s, etc.), preparation of fiduciary income tax returns, bill paying and a myriad of other issues. In addition to being relieved of these time-consuming but important duties, a corporate Trustee will also provide professional, top-notch investment management services.