Being a professional executor can have a range of challenges, not least when working with charities, all of whom might have slightly different requirements.
We also know that professional executors work incredibly hard to deliver legacy income to charities by dealing efficiently with charitable estates. Charitable legacies deliver over £3bn of income to the sector every year, supporting a huge amount of vital work across the UK.
The Institute of Legacy Management (ILM) works with over 400 charities big and small around the country, so we understand first hand the challenges for both charities and executors in these cases. For many charities, gifts in wills are a vital income stream, so naturally we want to ensure this process works as smoothly as possible for all parties.
As well as supporting charities and offering them help and guidance, we also want to ensure that professional executors can navigate some of the trickier requirements of managing legacy gifts. To help with the process, we have put together a factsheet aimed specifically at professional executors which we hope will be invaluable in your role as an executor, while also helping clarify exactly what charities information charities will ask for, and why they ask for it.
You can view our Guidance for Executors on the ILM website here.
We always welcome feedback – please get in touch at ceo@legacymanagement.org.uk if you have any comments or suggestions.
This article was submitted to be published by the Institute of Legacy Management as part of their advertising agreement with Today’s Wills & Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills & Probate.
