Is a living trust worth it, or is it just an expensive way to avoid probate?

Whether a living trust is worth it depends heavily on your state and situation. In states with slow, expensive probate like California or Florida, or if you own real estate in more than one state, a trust can save your heirs significant time and money and keep matters private. In states with streamlined, cheap probate, a will plus beneficiary designations may accomplish nearly the same thing at lower cost. Trusts also shine for incapacity planning and for controlling how and when heirs receive money. But a trust costs more upfront and only works if you fund it. Don't buy a trust reflexively; weigh your state's probate burden, your assets, and your goals before deciding.