(1) This Procedure is effective from 26 February 2015. (2) This Procedure outlines the process for effectively managing bequests and prospective bequests to the University. (3) This Procedure applies to the management of prospective bequests and the acceptance, recording and recognition of bequests to the University. (4) This Procedure is pursuant to the Philanthropic Gifts policy. (5) Bequest enquiries should be directed to the Deakin Advancement. (6) University employees and office holders must maintain the highest ethical standards at all times when engaging a bequest donor or bequest prospective donor. This includes not accepting appointment as power of attorney, executor or trustee of a bequest, nor writing or witnessing a Will for a bequest donor or prospective donor unless they have family, social, or personal contacts with the donor or prospective donor which are separate to their position at the University and do not involve a conflict of interest (see Declaration of Interest procedure). (7) If a prospective bequest donor approaches the University, the prospective bequest donor is to be introduced to the Chief Advancement Officer. (8) The Chief Advancement Officer will assign a Prospect Manager to the prospective bequest donor. (9) The Prospect Manager will liaise with the donor and the relevant University stakeholders required to realise the donor's intention, to develop the details of the bequest agreement which will contain the following information: (10) Bequest agreement templates are maintained by Deakin Advancement. (11) Once approved by relevant internal parties, the bequest agreement is sent to the donor for their approval/signature and return. (12) Deakin Advancement records the bequest agreement and sends a letter of acknowledgement. (13) The Prospect Manager will thank the donor and maintain regular contact. (14) On notification of an unanticipated bequest, the Chief Advancement Officer assigns a Prospect Manager to the bequest. (15) On notification of an unanticipated bequest or the death of a donor who made a bequest agreement, the Prospect Manager liaises with the donor's executor and Deakin Advancement until the bequest is realised and payment received. (16) Following receipt of payment or acceptance of gift in-kind, Deakin Advancement notifies: (17) Correspondence with executors and trustees is the responsibility of Deakin Advancement. If legal issues arise the General Counsel will be consulted. The General Counsel shares information regarding Wills and bequest agreements with Deakin Advancement and vice versa. (18) Disposition of bequest of property will be decided by the Chief Advancement Officer in consultation with the beneficiary and University policy and procedures relevant to the kind of property bequeathed. (19) The University reserves the right to refuse or return a bequest. All bequests must be acceptable under the University's Philanthropic Gifts policy and meet the requirements of the Philanthropic Gift Acceptance procedure. The Chief Advancement Officer will resolve any question of adequacy or appropriateness of a bequest and bears ultimate responsibility for the authority to accept or decline a bequest. (20) The University will convene a contested bequests committee to consider the action to be taken in the event of a disputed Will. The committee will comprise: (21) For the purposes of this Procedure:Bequests procedure
Section 1 - Preamble
Section 2 - Purpose
Section 3 - Scope
Section 4 - Policy
Section 5 - Procedure
Bequest enquiries
Prospective bequest donor
Receipt of a bequest
Official correspondence with executors and trustees
Bequest of property
Refusal or return of bequests
Contested bequests
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