C
carl2000
Guest
Wisconsin
In 1977, five landowners of adjoining lots in a rural Wisconsin subdivision established an agreement "all for the purpose of creating easements and a trust to create a private water system to supply the private dwellings existing or to be constructed on the lots described..."
Fast forward to 2003... The same agreement is in place, but previous trustees (landowners in the group who rotate account management periodically) managed the expenses by opening checking accounts and utility accounts in their personal names. Now that it's my turn to be the trustee, I want to set up any accounts in the "trust" name.
I applied for an EIN under a name, but I want to know if this type of group (not for profit, no income, exists only to share well expenses), must file any other registration with the State. Also, is there any simple document that the landowners must sign to establish the name used on the accounts? An Addendum to the original agreement?
Thank you.
carl2000
In 1977, five landowners of adjoining lots in a rural Wisconsin subdivision established an agreement "all for the purpose of creating easements and a trust to create a private water system to supply the private dwellings existing or to be constructed on the lots described..."
Fast forward to 2003... The same agreement is in place, but previous trustees (landowners in the group who rotate account management periodically) managed the expenses by opening checking accounts and utility accounts in their personal names. Now that it's my turn to be the trustee, I want to set up any accounts in the "trust" name.
I applied for an EIN under a name, but I want to know if this type of group (not for profit, no income, exists only to share well expenses), must file any other registration with the State. Also, is there any simple document that the landowners must sign to establish the name used on the accounts? An Addendum to the original agreement?
Thank you.
carl2000