​Statement of Purpose: Gonen Statutory Trust

​”The Gonen Statutory Trust is established as a specialized, bankruptcy-remote vehicle designed to hold, protect, and manage the core capital and strategic assets of GONEN CORP. By separating asset ownership from corporate operations, the Trust ensures long-term fiscal stability, enhances creditor protection, and provides a streamlined framework for the acquisition and disposition of corporate holdings.”

​Strategic Overview & Structure

​The relationship between the Trust and the Corporation creates a “Holding-Operating” model, which is a standard best practice for global entities like G1NBC.

​1. Structural Hierarchy

  • ​The Settlor: GONEN CORP (or its founders) transfers assets into the Trust.
  • ​The Trust (The Vault): Holds legal title to the assets (Real Estate, IP, Cash, Equipment).
  • ​The Corporation (The Engine): GONEN CORP operates the business, utilizing the assets held by the Trust through lease or license agreements.

​2. Key Benefits for Gonen Corp

  • ​Liability Shield: Because the Trust is a separate legal person, a lawsuit against the operating corporation (GONEN CORP) typically cannot reach the assets held within the Trust.
  • ​Tax Flow-Through: Statutory trusts are often treated as “pass-through” entities for tax purposes, meaning income generated by assets is taxed only once at the beneficiary level.
  • ​Perpetual Existence: The Trust can exist indefinitely, ensuring that the assets of the Gonen family of companies remain intact across generations of leadership.

​3. Governance Framework

  • ​Trust Agreement: Unlike a corporation, which is governed by rigid state laws, the Gonen Statutory Trust is governed primarily by its Governing Instrument. This allows you to set specific rules for how Victor Faucet or other executives interact with the trust’s assets.
  • ​Trustees: Responsible for the fiduciary oversight of the assets, ensuring they are used solely for the purposes defined in the Trust’s creation.

​Immediate Next Steps for Records

​To ensure the Trust is fully recognized by banks and the IRS, you should ensure you have the following on file:

  1. ​Certificate of Trust: Filed with the Secretary of State (usually Delaware).
  2. ​Governing Instrument: The private document detailing the “rules” of the Gonen Trust.
  3. ​Asset Transfer Deeds/Bills of Sale: Legal proof that assets have moved from the Corporation to the Trust.