We did a living revocable trust too. It includes all that other stuff people mentioned like POA's, intentions, etc., but I feel comfy knowing that our assets will be easily manageable for our minor children until they become old enough to legally access them. Our house, brokerage, and other permissible docs are titled in the trust. We've had it for 1 year now and has been easy to maintain and have not seen any difference in how we interact with our accounts. We are just trustees to these accounts. If something happens to us or we are incapacitated, there are new trustees. No big deal.
The thing I don't like about wills is the probate process. I need my kids taken care of ASAP if something should happen to both my husband and me.