Society of Trust and Estate Practitioners launches the STEP Responsible Stewardship Toolkit
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STEP, the Society of Trust and Estate Practitioners, has launched a Responsible Stewardship Toolkit - a platform designed to guide individuals, families and their advisers, and equip trust and estate practitioners with practical tools and resources to incorporate responsible stewardship principles in trusts, wills and powers of attorney.
In collaboration with leading experts from across the wealth planning, legal, fiduciary and philanthropic sectors, Clare Stirzaker, Emma Haley and Sophie Harcourt contributed to this first-of-its-kind platform, which provides questionnaires and checklists to guide conversations, case studies demonstrating responsible stewardship in action, precedent clauses and provisions to support values-based planning. Specifically, Clare, Emma and Sophie drafted precedent clauses on personal care and care home preferences, investment provisions for financial powers of attorney, wills and trusts, and on the use of sustainability experts as investment advisors and discretionary investment managers.
Responsible stewardship of wealth is about more than just growing and preserving assets. It is about understanding that lasting prosperity is tied to the health of our society and our planet. Families who own businesses and wealth are uniquely positioned to lead the way. As creators and caretakers of capital, they play a crucial role in shaping a future where both their interests and the world around them can thrive. When communities flourish and the environment is sustained, families are better positioned to meet their long-term goals – for themselves, their businesses, and future generations. This kind of stewardship embraces a richer, more holistic view of wealth – one that includes not only financial capital, but also human, intellectual, social, and spiritual capital. By investing in all these forms of wealth, families can build stronger legacies and create meaningful impact that lasts.
This toolkit is a living resource which will continue to grow and evolve with input from STEP members and experts worldwide. Commenting on the toolkit, Clare Stirzaker says: “It has been a pleasure and privilege to contribute to the first iteration of STEP’s Responsible Stewardship Toolkit. We are increasingly supporting clients who wish to ensure that their wealth is invested and managed in such a way that better aligns with their values on society and the planet. The guide provides a great starting point for advisors in understanding and conversing with clients on these topics and developing appropriate legal solutions.”
The STEP Responsible Stewardship Toolkit can be accessed here.
