Creating a charitable trust
Discussion
Hi,
I grew up in a village where there was a local trust that individuals could apply too for some support (for things like help towards uni books etc).
This was best part of 20 years ago but it still sticks in my mind.
I would like to set a trust that could benefit individuals from within the local community, firstly using funds from my business (with a view that if/when we sell the company we would also top this up).
Ideal world. We would get to the point where we would distribute the interest earnt each year and the primary capital would remain
Has any one done anything similar? Any pitfalls to be aware of? First steps we would need to undertake to kick this off?
I grew up in a village where there was a local trust that individuals could apply too for some support (for things like help towards uni books etc).
This was best part of 20 years ago but it still sticks in my mind.
I would like to set a trust that could benefit individuals from within the local community, firstly using funds from my business (with a view that if/when we sell the company we would also top this up).
Ideal world. We would get to the point where we would distribute the interest earnt each year and the primary capital would remain
Has any one done anything similar? Any pitfalls to be aware of? First steps we would need to undertake to kick this off?
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