You do not need to be wealthy to have a Revocable Living Trust. A simple way to estimate the costs of having the Probate Court distribute your assets is to multiply the assets subject to Probate by 3%. The costs to administer the Revocable Living Trust are much less, usually below 1%. This cost savings at death, in most cases, will offset many times over the extra cost of having a Revocable Living Trust prepared rather than a Will.

Also, the administration of the Revocable Living Trust is generally easier and less hassle than the administration of a Will. So, it is easier for the person taking over after you die.