Good Practice GuidanceThe Good Practice Guidance is intended to reflect and inspire our members’ commitment to fulfilling donors’ final wishes.
ILM and our members share a vision to ensure every generous donor’s final wishes achieve their greatest potential. Legacy management is not an end in itself; it’s an opportunity to ensure the final wishes of generous donors help to create the positive change they wanted to see in the world. Donors have placed their trust in us. As such, it’s our duty as legacy professionals to fulfil their final wishes in a timely manner, and to optimise the positive impact these gifts have for charities and their beneficiaries.
- Our Principles
- Guidance Notes – Claims against the estate
- Guidance Notes – Communications following receipt of gifts
- Guidance Notes – Income Recognition and Accruals
- Guidance Notes – Initial communications after notification of gifts
- Guidance Notes – Tax
- Guidance Notes – Working with lay executors
- Guidance Notes – Working with solicitors
- Guidance Notes – Working with multiple charities
The ILM Good Practice Guidance establishes a set of five core principles for legacy professionals, offering an ethical framework for the sector: Sensitivity, Transparency, Integrity, Collaboration, Informed. These reflect the key challenges faced by legacy professionals and act as an ethical framework for our work.
In addition, the detailed Guidance Notes further set out ways in which these principles can be applied to different areas of our work.
We developed the guidance with a taskforce of professionals from across the legacy management field, and in collaboration with its members, to share best practice in areas ranging from communication with lay executors, solicitors and other charity beneficiaries, to tax considerations, and possible claims against an estate.
We want the guidance to evolve over time, and we welcome your feedback and comments.
If you have any questions about the guidance, or would like to make any comments or suggestions, please email firstname.lastname@example.org