I would be grateful for any help in the following matter. I am in the process of trying to set up a Trust under S.189A (Special Trusts for Incapacitated Persons). I am a little unsure of how to proceed and I know it is best to set these things up correctly from the outset.
Some advice I have read has pointed towards setting up a a company limited by Guarantee and then applying to the Revenue for non profit making status.
Companies are expensive to set up using the off the shelf agents, can you do this yourself?
Does this lead to auditing costs annually?
I understand there must be 7 participators, do they all have to be directors?
I also understand that family members of the beneficiary of the trust cannot be trustees, then how many of the participators / directors of the company are required to be trustees?
Thanks in advance, I am sure I will have more questions...
Some advice I have read has pointed towards setting up a a company limited by Guarantee and then applying to the Revenue for non profit making status.
Companies are expensive to set up using the off the shelf agents, can you do this yourself?
Does this lead to auditing costs annually?
I understand there must be 7 participators, do they all have to be directors?
I also understand that family members of the beneficiary of the trust cannot be trustees, then how many of the participators / directors of the company are required to be trustees?
Thanks in advance, I am sure I will have more questions...