In reading my blog heading, you may be thinking “Why would I bother to even read this? I have no need to know about Trusts.” Or do you? And my answer would be “YES!“ You should have some basic understanding of the uses of Trusts and whether or not there would be any benefit in creating a Trust at this point in your life. While there are many types of Trusts and several reasons for creating a Trust, a basic understanding of Trusts can be helpful to determine if you should speak to your accountant and/or attorney to assist in planning for the future. As Baby Boomers and early year Generation X’s are now in their 50’s and 60’s, a midlife plan should not only include a medical checkup but a financial one as well. This should include reviewing your future financial situation/needs during your retirement years and any estate planning you may want to consider. And this is where Trusts could come into play.