Thank you goonbolt.
It appears the "major disadvantage" of a living trust is the same as not having a living trust; i.e., the attorney's fees. As I understand it, probate attorneys take "a piece of the action", so it's probably better to spend the money now on a living trust than to subject my wife and/or heirs to a Hobson's choice after I'm history. As far as transferring property titles, bank accounts, beneficiaries for insurance policies, as well as other assets, it is merely a matter of doing the work, which I believe I can do myself. As for "complex dispositions", I don't know what that term means, but since I will be paying a lawyer one way or the other, maybe I can get a definition thrown in for the price and then get to work on that as well.
Thanks again to goonbolt and harrylime.
I welcome anyone else's response ...