Keep me logged in until I sign out. Besides preparing the trust document itself, you will have to transfer all of the assets specified in the trust document into the trust. This can require executing deeds or bills of sale, submitting tax forms, retitling assets, and other registration procedures. You have to be sure to keep transactions involving your trust separate from those involving property owned in your name. After creating the trust, each time you buy, inherit or otherwise acquire an asset that you don't want subject to probate, you have to remember to buy it in the name of the trust or transfer it into the trust after purchase.
Cost is also a factor.
While a lawyer isn't required for setting up a revocable living trust, it's usually a good idea to work with one. Also, a trust generally costs more than a will to prepare. In addition, there may be an annual management fee, particularly if the trustee is a bank or trust company. There are other problems too. Depending on the state the property is located in, putting your home in a revocable trust might jeopardize a homestead exemption, might require a transfer fee, or might cause your property to be reassessed for property tax purposes.