Darlynn Morgan, Esq. recommends that if you own any property or have any assets more than $100,000, it would be wise to have a living trust to avoid probate. If you have children, it’s important to name guardians with a last will. It’s easier for your family to know what your medical wishes are with a living will. If you were to become incapacitated, it would be smart to have a legal and financial Power of Attorney to manage your affairs.