I researched this a few years back and determined it was unnecessary for our situation. We have only one child and can put all financials into either Paid on Death (POD) or Transfer on Death (TOD) with our child as beneficiary. Our home title can be transferred on death too to avoid probate. The only thing that cannot are the vehicles (some states allow vehicles to be transferred upon death too). A will would handle the transfer of vehicles and indicate child could pay bills and receive all assets (including digital). End of life or funeral arrangements could be spelled out.

Plan on taking all to an attorney who will check to see that everything is in order.

Wondering if I am missing something? I continually talk to people who are doing trusts. I think if there is only one beneficiary it is a waste?????