Practical guidance for good legacy administration

Weekends mean ‘lie-ins’ in our household (in a very loose sense of the word). The chance to enjoy the comforts of a soft mattress and a bit more shut-eye for an extra hour or so until the necessities of the day and the co-ordinating of children can’t be put off for any longer. There’s no formal system but my good …

One important way of increasing the value of a legacy is by claiming back the tax paid on income received during the course of an administration. Although the sums involved may seem modest when compared to the overall value of the legacy received, when added up it can amount to a considerable sum which can then be used toward your charitable objectives. So, what are the principles, and how is it done?

Communicating with Executors of estates where a charity is fortunate enough to be left a gift in a will should be straightforward. Yet in reality there are pitfalls and the legacy officer must proceed with utmost care, sensitivity, tact and respect. Some 500 charities in the UK regularly receive gifts in Wills, and amongst these there is a growing body …

The ability to budget and forecast legacy income is an essential part of your charity’s financial planning. So, how is this done and what are the key issues and risks to consider?

It may seem that a legacy officer’s role is just to attend to day-to-day legacy management matters but, in reality, the role can potentially cover many key areas which require a wide-ranging set of skills and experience, and so bring additional value to the role. So, what are they, and why are they important?

On occasion, your charity may be asked to become the executor of a Will, either by someone who is making their Will, or in respect of a person who has died leaving a Will but their named executor is unable or unwilling to act. Should you agree to do this and what are the risks and benefits?

A key role for a legacy officer is to optimise the value of legacy gifts and make the biggest impact possible for the legacy donor.

Checking estate accounts can seem time-consuming and confusing. So why is it vital that you do it, and what should you look for? Checking estate accounts is an important part of ensuring that the administration of an estate has been completed correctly, and that a charity has received its full entitlement under the Will. Indeed, a charity should not give …

How Trustees manage legacy income is a key pillar of efficient charities. With increasing regulation and recent criticisms of the sector, putting accountability at the heart of every organisation (large or small) is essential for long term self-preservation and potential damage limitation. Legacy administration itself is a particularly delicate area, and should be considered by all charities as a priority in …