A Living Trust will minimize administration and probate costs arising at death, since property titled in the name of the trust avoids probate. 

A Revocable Living Trust also allows flexibility on the part of the Trustee.  You may make any changes in the Trust Agreement if you wish.

The Living Trust avoids publicity with respect to the transfer of property.  Details are not make a matter of public record.

Asset management will continue uninterrupted.  Assets will be managed and distributed as directed in the Trust Agreement.

Placing property in a Living Trust also avoids the necessity of a court-supervised conservatorship in the event of physical or mental incompetence.  The cost savings in any of these situations are substantial. 

There are many other advantages to having a Living Trust arrangement, but the above are the most important. 

Name yourselves as co-trustees.

Establish, within the Trust Agreement, the specific instructions and directions pertaining to the distribution and execution of your estate.

In order to fund the Living Trust, title to assets must be passed to the trust.

Always remember, when buying and selling assets, to do so in the name of the trust.