My wife and I are residents of Florida and also own property in New Jersey. Would a Living Trust cover property in both states, avoiding probate in both?

A living trust is subject to the 'equal dignity rule', "The equal dignity rule is a principle of law that requires an authorization for someone performing certain acts for another person to have been appointed with the same formality as required for the act the representative is going to perform. This means, for example, that if a principal authorizes someone to sell the principal's house or other real property, and the law requires a contract for the sale of real property to be in writing (which is required under the "Statute of Frauds" in most U.S. jurisdictions), then the authorization for the other person to sign the sales contract and deed must be in writing too." Power of attorney - Wikipedia, the free encyclopedia
But read-up on the subject of living trusts; understand the costs/benefits before you decide to go that route. How To Create a Living Trust | eHow.com