Navigating restricted legacies: accessing funds and unlocking income

Restricted legacies (legacy income which may not be freely used for your charity’s general purposes) can throw up challenges for legacy managers. How do you tell whether the restrictions are binding? What do they mean in practice? What do you do if the restrictions don’t work for your charity? If they are out of date or too restrictive can you lift the restrictions – and how?

Bates Wells’ legacy team will be hosting a webinar to help charities navigate, and make the most of, restricted legacies. They’ll look at the various types of restricted legacy, and explain how you can work around the restrictions to free up funds for your charity. You might have more funds available for general spending than you think.

What will you take away?

• An understanding of the different restrictions which can apply to charity legacies.
• How to identify whether a legacy is actually restricted or not.
• How you can change the purposes of a restricted legacy or release any endowment funding using powers in the Charities Act 2022 to unlock your charity’s funds.

Speakers

Alice Faure Walker, Senior Counsel, Bates Wells

With over 30 years’ experience working with the charity sector, and a background as a private client lawyer, Alice brings a depth of expertise in charities and charity law. Alice has particular experience advising on legacy giving and unlocking restricted funds and endowments. She is co-editor of The Charities Acts Handbook (2024 edition), one of the leading guides for charity practitioners.

Hugo Walford, Senior Associate, Bates Wells

Hugo advises a wide range of charities, not-for-profits and individuals with philanthropic aims on charity law and commercial matters. He regularly works with charities on governance, compliance, rationalising funds and legacy activities.

Bates Wells

Bates Wells is a full-service law firm and the UK’s leading legal advisor to the third sector, advising more of the top charities than any other firm. We have the largest dedicated charity and social enterprise team in the UK, with over 70 lawyers practicing in this field. Our charity solicitors give practical advice on the full spectrum of charity and commercial law; from drafting commercial contracts, to advising on legacies, to handling the most complex, high profile and sensitive cases. Our lawyers are recognised by leading legal directories, Legal 500 and Chambers UK.