A living trust has many advantages over a simple will or testamentary trust (trust after death). The first advantage is that it keeps the IRS even further out of the process than does either a will or trust that becomes effective after death. The second is that, unlike a testamentary trust, a living trust is not continually supervised by the court. And finally, a living trust is far less likely to be challenged, because creating a trust while you are alive makes contests over what you intended easy to resolve (you are still there to make your wishes known). It is less likely that a relative will come forward and say that they think you are insane or incompetent, while you are still around to challenge the assertion. As instruments go, the living trust has a great deal to offer.

The only downside of the living trust may be that your would-be-heirs (provided you had a will) know what you are giving them. Those who are being extra nice just in case they might get something, and for that reason alone, may stop visiting as often, although that may be a blessing in disguise. That is the great thing about a will -- people only know what you think of them after you