More people leaving gifts to charity in their wills, research suggests

Charity

One in five charity supporters aged over 40 say they have included a charitable gift in a will, up from one in seven in 2010, new figures show.

Research published today by umbrella body Remember A Charity used data from its annual consumer benchmark study, which surveyed 2,001 charity supporters across the UK aged 40 or over.

The survey, which was carried out in December, found that 21 per cent of respondents said they had included a gift to charity in their will, a seven percentage point rise from 2010.

Three-quarters of charity supporters said they would be willing to leave a small percentage of their estate to charity, the data showed.

The biggest barrier to supporters leaving a legacy gift was the desire to leave belongings to family or friends, researchers found.

Among the 77 per cent of supporters who would be willing to leave some of their estate to charity, more than one in 10 said they would be open to leaving 10 per cent or more of their estate, according to the data.

Charity supporters aged between 40 and 60 with a will were more likely to include a charitable gift than those aged over 60, at 37 per cent compared with 27 per cent, researchers said.

Legacy pledgers are more likely to be single and without children or grandchildren, the data showed.

Rates are highest among those who are “affluent, aware of the inheritance tax incentives and who have sought professional advice for their finances”, the study found.

Lucinda Frostick, director of Remember A Charity, said: “This study shows the long-term positive shift in legacy giving attitudes and behaviour, and that the propensity for giving in this way is gaining ground beyond the baby boomer generation, particularly for those in their 40s and 50s.

“This indicates that there’s great potential for continued growth of the legacy market, but it also stresses the importance of supporter stewardship.”

She said legacy income, which is worth about £4bn a year to UK charities, was “crucial for an increasing number of charities”.

She said: “While we can’t impact the economic environment that drives legacy values, we can positively influence the proportion of people choosing to leave a gift; by working together, and engaging with legal partners, government and others to make legacy giving a social norm.”

Products You May Like

Articles You May Like

Book review of Bluebird Day by Megan Tady
Warren Buffett’s Berkshire Hathaway scoops up Occidental and other stocks during sell-off
Nike (NKE) earnings Q2 2025
Disney Tops $5 Billion Global Box Office; First Since Pandemic
3 gifts for music lovers