Attorney Michael Baker discusses wills and revocable trusts:

A will “directs who should receive property that is in your name only, without a designated beneficiary, upon your death,” says Michael T. Baker, an attorney at Baker Law Group in the Boston area. “Without a last will, property may be distributed by the courts to your next-of-kin, regardless of what your wishes might have been.” …

Revocable trusts, sometimes called living trusts, are being used more often in place of wills to reduce the expenses and delays of probate, says Baker. “Since they can be altered, they provide much of the flexibility of a will with the power of a trust.”