Do I need a living trust?
Trusts are used for specific planning purposes. Consult with your elder law attorney to determine if such a trust is needed in this case. For example, if you were trying to avoid probate and provide spend thrift protection for a child after you are gone, a trust may be ideal for you. On the other hand, if you have a simple estate with many beneficiary designations that are legally effective already, a will may suffice as a backup to your beneficiary designations.