Essentials of Legacy Management Unit 1


Dates: 25th – 26th January; 26th – 27th April; 12th – 13th July; and 11th – 12th October
Time: 9.45am – 4.30pm
Venue: 
Charles Russell Speechlys, London
Who should attend:
Those new to legacy management or with responsibility for legacy income within their charities.
Cost: ILM Members £355; Non-members £460

Speakers:

  • Richard Hill – Legacy Foresight
  • Chris Millward – CEO of ILM
  • Nichola Sims – Training Manager, ILM
  • Richard Honey – Charles Russell Speechlys

Programme:

The ILM Essentials of Legacy Management course is based on the old Core Programme and, as the name suggests, will guide delegates through the essential information required to manage legacies effectively within the charity sector.

Whilst each unit is a stand-alone course, the three units progress through from the basics of legacy giving and probate law, to more complex areas such as taxation, property and non-English & Welsh jurisdictions.

In each area, it is essential that this technical expertise is partnered with sensitive communication, and the “softer skills” required to fulfil the role will also be covered, through sessions on communication skills, dealing with bereaved people and influencing.

Essentials Part 1

Section 1: Charitable Legacy Giving

Lead by Richard Hill of Legacy Foresight looking at legacies within the wider charitable context, current trends in legacy giving and factors within the external marketplace which may have a bearing on legacy income.

Section 2: ILM Good Practice Guidance

Launched in 2017, the Good Practice Guidance (GPG) draws on the recognition that legacy management is not an end in itself, but an opportunity to ensure the final wishes of generous donors help to create the positive change they wanted to see in the world.

This session, led by ILM’s CEO Chris Millward, will look at these principles, their application in terms of managing legacy gifts, and the key communication skills needed to carry this out effectively.

 Session 3: The basics of probate law

Looking at what the various terms of the Will mean and what the requirements for a valid will (under English & Welsh law) are.

Section 4: The administration of an estate

What happens during the administration, both in terms of the roles and responsibilities of the executors and trustees, and also the charity beneficiaries.

Section 5: Inheritance Tax

Led by Richard Honey of Charles Russell Speechlys, this session will provide a basic introduction to Inheritance Tax (IHT), looking at the main principles, how to correctly calculate IHT liability and relevant exemptions.

Section 6: Estate Accounts

Following on from looking at the work involved in the administration of the estate, including dealing with IHT, key items to look out for when checking accounts.

Section 7: The legacy file of John Doe, Deceased

To finish off the two days and help further embed the learning, delegates will work through a fictitious case file, looking at various issues which arise and how to handle them in a way which honours the donor’s intentions as well as the charity’s reputation.

Essentials Unit 1
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