1.   Seniors are bombarded with advertisements, phone calls and door-to-door salespeople insisting that living trusts work best for everyone.

2.   These calls and mailings are probably selling living trusts, annuities, life insurance or a combination of these.

3.   Among other things, the living trust identifies recipients of income or principal from the trust, and you can amend or revoke it at any time.

4.   An alternative to drawing up a will is setting up a living trust, which acts as a will substitute.

5.   Another common strategy is to place your property into a living trust rather than distribute it through a will.

6.   Avoiding probate is not the only reason to choose a living trust.

7.   Baby boomers are looking to living trusts as one way to simplify their financial matters.

8.   Barr cautions, however, that there could be legal complications if you also have created a living trust that names any of these relatives as a beneficiary.

9.   Because of income tax and death tax consequences, it may not always be smart to name your living trust as the beneficiary.

10.   Besides avoiding probate, a living trust may also provide more privacy to your family and loved ones.