There are different kinds of trusts that could be created. A revocable trust is one type of trust. A revocable trust gives you flexibility over trust assets during the course of your life while allowing you to still arrange the transfer of those assets outside of the probate process. However, there are limits to a revocable trust.
First, just because the assets are able to be transferred outside of the formal probate process does not mean the assets are not counted as part of your taxable estate for determining if you’ll owe estate taxes or not. Second, the assets held in an revocable trust are generally not protected from claims by creditors and are not going to be protected in case you need nursing home care and want Medicaid to pay for the costs