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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Likely unpopular opinion: I am generally quite risk averse but my wife and I choose not to have a will/trust at this time.  We are both youngish and in good health.  Everything of note is in each other's name.  We find the very small chance of both of us unexpectedly dying at the same time is not worth the expense and effort of setting up a will where all of our assets will still go to the same parties as the legal default (i.e. our kids).

That being said, if either of us developed a terminal condition or one of us died unexpectedly, we would immediately set up a trust for our kids.  Also when we get older with substantially more assets we will also be setting up a trust.[/quote]
Some truth to this. Another unpopular opinion is life insurance. I took advantage of work life insurance plans, but we never bought term life insurance. If I had to move because DH dropped dead, I'd move. Probably wouldn't want to live in our shared house anymore anyway. Anyway, we didn't need it and saved a few bucks.[/quote]

So once you had kids, you had 1-2 years of living expenses set aside?  You would want to be forced to deal with selling your family home, moving the kids from the home that provides them comfort, possibly moving schools as well, and finding a new place you can afford all while working full time to pay all the bills?

See we decided we would rather have the surviving parent be able to take it "easy for a bit" with regards to work and focus on the kids dealing with the death of a parent.

We dropped Life insurance once we hit $20-25M, and at that point the kids were in HS and college, with fully funded college and grad school set aside in 529s.

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