Do I need a Living Trust?
Many people are unsure when they should obtain the advice of an attorney to begin the process of estate planning. Since predicting the future is impossible, if you don't have something in place, the time to do it is now. Having said that, if you own a home or other property, if you have children (especially minor children), have recently been married or divorced, or wish to make a special bequest to a friend or relative, you should make or update your Trust.
Your age, marital status and wealth don't really matter. If you have assets and want your loved ones to avoid the hardships of Probate at your death, you should strongly consider creating a Living Trust. You should also consider encouraging other family members, from whom you would be a beneficiary, to create a Trust so you won't have to deal with Probate at their death.