The Institute of Legacy Management is launching a new ethical framework to underpin the work of legacy professionals.
The Good Practice Guidance establishes a set of five core principles – sensitivity, transparency, integrity, collaboration and informed – that can be applied at each stage of the process of dealing with charitable gifts left in wills.
A taskforce of professionals from across the legacy management field developed the toolkit in collaboration with institute members.
Institute of Legacy Management chief executive Chris Millward said it is expected the guidance will be of value to members and the wider charity profession. It is hoped that the guidance will help all professions related to legacy management have a strong understanding of the practice.
“The guidance will not be imposed on members, and is not a prescriptive set of actions for the day-to-day working of legacy management, not least because roles and responsibilities vary greatly between organisations. Rather, it is intended to reflect and inspire legacy professionals’ commitment to successfully fulfilling donors’ final wishes within the legal and regulatory framework they are governed by.”
Fundraising Regulator chief executive Stephen Dunmore said legacies are an important way of individuals making a lasting contribution to the causes that are important to them.
“We welcome this new guidance, which will help legacy professionals better understand their responsibilities in ensuring the final wishes of donors are respected.”