It’s been 10 years since we discussed some of these ideas with many members of the Hunt family in Leland, MI. At the end of 2012 we moved forward with the creation of the Thomas C. Hunt 2012 Family Trust. It has two initial trustees: Laurie and me. The Trust provides for us to name three additional trustees to come from our families with 3, 4, and 5 year terms. They are David Hunt, Laura Hunt Innes, and Tory Dann.
Section 1.A of the Trust provides:
The primary purpose of the trust is to provide financial support to any one or more members of a class consisting of my siblings, the siblings of Laurie Dann, the descendants of my siblings, and the descendants of the siblings of Laurie Dann (the “Class”) through lending. I expect, but do not require, the Trustees to adopt procedures from time to time for receiving and deciding on requests for loans. Loans may be made for any purpose in the Trustees’ discretion and…may be made on any terms, with or without security, as the Trustees determine. In addition, the Trustees may pay any part or all of the income and principal of the trust (i) to any one or more the members of the Class for health, support, maintenance or education, and (ii) to Charitable Organizations for any reason.
Hunt Family Trust 