Great post!

Living trust is much broader than simple will. It is a good idea to set up when you are young especially your kids can't suppot themselves. The cost is about $1500-$2500 depending on how complicate the trust is. You don't save money by not having it-  Most of state charge about 1%-3% of your total estate if your estate goes to probate because there is no trust. So you'll pay the cost sooner or late :>)

For those of you may have over $2mil (or whateven the estate tax exempt limit)there is one kind of special Trust to be set up at least 10 years before passing away to avoid the estate tax. The retirement specialist will have the details.