Guidance launched to promote professionalism in legacy management

Guidance launched to promote professionalism in legacy management

Set to underpin the work of legacy professionals, a new ethical framework is being launched on the 24 February 2017 by the Institute of Legacy Management.

Five key principles are set out in the new Good Practice Guidance, all of which are applicable to each part of the charitable bequeathing process. Sensitivity, transparency, integrity, collaboration and keeping informed all remain core considerations when leaving a gift in a will, from notification of the gift through to eventual receipt and use by charity beneficiaries.

Along with a team of professionals from the legacy management field, the Institute of Legacy Management created the guidance collaboratively with its members in order for the best practice to be shared. This was in a range of different areas such as tax considerations, potential claims against an estate as well as communication with lay executors, solicitors and charity beneficiaries.

Commenting on the new framework was Chris Milward. The Chief Executive of the Institute of Legacy Management highlighted the vital role he hoped the guidance would play in the working lives of professionals.

“The guidance was developed in recognition of our members’ appetite for bringing together and sharing the high professional standards they take pride in working to. We hope and expect that the new Institute of Legacy Management Good Practice Guidance will be of real value to them and the wider charity profession, especially as it was developed in such close collaboration with members, and so reflects their needs and experiences. We also hope that the guidance will play a significant role in ensuring that all professions related to legacy management, including those beyond the charity sector, have a strong understanding of what legacy management is and how they can best collaborate in everyone’s best interests.”

Stephen Dunmore, Chief Executive of the Fundraising Regulator also commented on the impact he felt the guidance would have on the sector, stating: “Legacies are an important means of individuals making a lasting contribution to those causes closest to them, and we welcome this new guidance, which will help legacy professionals better understand their responsibilities in ensuring the final wishes of donors are respected.”

Head of Policy and Engagement at the Charity Finance Group, Andrew O’Brien highlighted his hopes for the framework and its ability to keep professionals keep up to date.

“This great new resource from the Institute of Legacy Management will help professionals keep on top of best practice and make sure that they have the right systems in place.”



Georgia Owen

Georgia is the Senior Content Executive and will be your primary contact when submitting your latest news. While studying for an LLB at the University of Liverpool, Georgia gained experience working within retail, as well as social media management. She later went on to work for a local newspaper, before starting at Today’s Wills and Probate.