Do I need a living trust?

Not everyone does, but a living trust is worth considering if you want to avoid probate, own real estate in more than one state, or value privacy. It can also make things smoother if you become incapacitated. If your estate is simple and your assets already pass through beneficiary designations, a will may be enough. Weigh the 1,500 to 3,000 dollar setup cost against the probate time and expense it would save your heirs.