A living trust has two parties involved, a "trustee" who holds legal title for the property for the other party, called the "beneficiary". The trustee and the beneficiary can be the same person, which means an individual could form a living trust for himself. Different kinds of living trusts can help you avoid probate, set up long-term property management, and reduce estate taxes. One advantage of having a living trust is that property left through the trust doesn't have to go through a probate court and also speed up as well as fully deliver the inheritance without unnecessary legal fees involved. Generally, a basically living trust is fairly simple and straightforward and one probably won't need a lawyer for the process.