Tim Parker’s article says:

If you’ve heard of trust funds but don’t know what they are or how they work, you’re not alone. Many people know just one key fact about trust funds: they’re set up by the ultra-wealthy as a way to protect passing on significant sums of money to family, friends, or entities (charities, for example) after they pass away.

However, only part of the conventional wisdom is true. Trust funds are designed to allow a person’s money to continue to be useful well after they pass away, but trusts aren’t only useful for ultra-high-net-worth individuals. Middle-class people can use trust funds as well, and setting one up isn’t entirely out of financial reach.