Does a trust created in a will do the same thing as a living trust?

Not quite. A will can contain wording to create a testamentary trust to save estate taxes, care for minors, care for loved ones with special needs, etc. However, because it is part of your will, this trust cannot go into effect until after you pass away and the will is probated. A testamentary trust created in a will does not avoid probate and provides no protection for you during any period of incapacity.