My grandfather is worth tens of millions of dollars from various real estate selling , life insurance from my grandmother , and various stock / bond investments . He only trust his investment advisor but not the trust dept of the advisor's company . He does not have a trust and my dad has convinced him he needs one . But he is one of those old school thinking types ( also stubborn and a bit paranoid ) where he has to read up on everything himself before he goes to see an attorney . I read in various news outlets that everyone needs a living trust . But he said he read that after a certain amount of money , he needs other types . I was telling him he needs a living trust and probably other types also . But everyone needs AT LEAST a living trust . Any insight ? Thanks .