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Warner Norcross + Judd LLP is a corporate law firm with over 230 attorneys serving clients in nine offices throughout Michigan. Among the largest law firms in Michigan, Warner works in virtually all areas of business law.

Michigan Law Firm - Warner Norcross + Judd LLP

We helped the 2nd generation owner of a family business create multiple irrevocable gift trusts for the 3rd and 4th generations of the family. These trusts were created to hold family business interests. <br /><br />This was a unique matter because this involved creating a trust that essentially serves as a family bank. The cash in this trust can be borrowed by the children in the family who choose not to work in the family business and wish to build their own business enterprise instead. <br /><br />This work also involved side letters of intent to the trustees and beneficiaries which discussed the purpose of the trusts, the behaviors the trust is hoping to motivate and the potential uses for the trust assets.

core/freeform

Private Client and Family Office

Partner

Laura A. Jeltema

Associate

Nina E. Lucido

Susan “Susie” Gell Meyers

Trusts and Estates

Creating a Trust That Serves as a Family Bank

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Creating a Trust That Serves as a Family Bank

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