Hi
We're looking to set up a Discretionary Trust to provide protection for our business (currently set up as a company, with 2 even shareholders that are a couple). We would like the business protected from any personal debts and the opposite so we're protected personally from any company/business issues that may arise in the future.
We're questioning whether we would need to setup a new company to act as the trustee or if we can use the current company that the business is operating under.
Note: the company currently has no debt
Note: the directors currently have debt
We're looking to set up a Discretionary Trust to provide protection for our business (currently set up as a company, with 2 even shareholders that are a couple). We would like the business protected from any personal debts and the opposite so we're protected personally from any company/business issues that may arise in the future.
We're questioning whether we would need to setup a new company to act as the trustee or if we can use the current company that the business is operating under.
Note: the company currently has no debt
Note: the directors currently have debt