4 Trends Around Legacy Gifting for Remember a Charity Week
It’s Remember a Charity Week this week, so let’s look at some of the trends around charitable gifting in Wills.
1. It is growing in popularity.
According to research commissioned by Remember a Charity, legacy gifting has risen by 43% over the past decade. 20% of UK charity supporters aged 40+ are now saying they have left a charitable gift in their Will, compared with 14% in 2013.
Additionally, and despite the cost-of-living crisis, 80% of respondents are still just as likely to leave a legacy in their Will.
2. Over a third of professional estate planners broach the subject with their clients.
Of all solicitors and Will-writers surveyed by Remember a Charity, more than a third (36%) broach the possibility of leaving a charitable legacy with clients, while fewer than one in 10 (9%) admit to never raising this subject.
3. Charities are proving easy to work with.
Three-quarters of professional estate planners’ firms in Remember a Charity’s study (77%) have acted or assisted in the administration of estates that include a legacy to charity. Over half (56%) of those said they found charities easy to deal with. Only 13% said they didn’t find charities easy to work with and the top cited reason (22%) was that they communicate too often.
4. Leaving money to family was the main objection.
Remember a Charity’s study also found that the main obstacles related to leaving legacies include the clients’ preference to allocate their entire estate to their family (83%), the struggle in selecting the charity or charities to support (38%), and concerns about potential conflicts arising (38%).
Leaving legacies in Wills is growing in popularity and charities are careful to make sure they’re easy to work with. Helping to reinforce charitable gifting as a smart tax strategy, and a noble legacy.
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