You don’t need the state’s permission to start
That’s a strong start. Gonen Capital Series as your first series creates a professional, high-level brand right out of the gate.
Since this is the “Series 01” of your 20-series rollout, here is exactly how you handle the paperwork to make it official without overcomplicating things.
1. The Internal Designation (The “Birth Certificate”)
You don’t need the state’s permission to start this series. You simply need an internal document. In your records, you should create a page titled “Designation of Series: Gonen Capital”.
It should state:
- Series Name: Gonen Capital Series
- Master Trust: Gonen Statutory Trust
- Purpose: (e.g., “To hold and manage capital investments and business assets.”)
- Assets: List any initial assets being moved into this specific series (cash, equipment, etc.).
2. Banking for “Gonen Capital”
Banks are the “gatekeepers” of the series structure. When you go to open the account for this series, the bank will want to see:
- Your filed Certificate of Trust (The one from the Secretary of State for the Master Trust).
- Your Governing Instrument (The private Trust Agreement).
- The Series Designation (The document you created in Step 1).
- Internal use: No one will ever care or see it besides you and your bank.
- DBA use: If you file the Trade Name “Gonen Capital” with the state, they may ask for a one-sentence description of your business to ensure you aren’t a bank. Just be ready to say: “Private investment holding; no public banking services offered.”
4. Next Steps for Series 2 through 20
Since you’re doing 20 of these, you don’t want to reinvent the wheel. I recommend creating a Series Template now.
For your farming operations (Series 2, 3, etc.), will you be naming them geographically (e.g., Gonen North Farm Series) or by the type of crop/livestock they handle?