Go to the following site about this WillMaker product and ask them your question to get a definite answer - http://www.nolo.com/customer-support/longform-other. They were good and quick about answering my question when I had one. I don't believe the WillMaker software has a living trust. It does appear that NOLO does have another product for Living Trusts. http://www.nolo.com/products/living-trust-maker.html
I believe that it does. It has all kinds of legal documents about what you want to happen to your minor children. It also comes with a Living Will, Advanced Directives and a booklet full of answers to legal quesstions, along with a software disc that will allow you to cover pretty much everything legal, or direct you on their website. I have found it pretty complete, down to who to leave my pets to. NOLO does hasve a good site for that as well.