Ten year benchmarking research charts 43% rise in legacy giving

MONDAY 3 APRIL 2023: Legacy giving has risen by 43% over the past decade according to new research out today. 20% of UK charity supporters aged 40+ now say they have left a charitable gift in their Will compared with 14% in 2013. The research charts a steady rise in the proportion of people choosing to give from their Will over time.

Legal advisers play a critical role in making clients aware of the option of including a gift in their Will, with more than half of the giving public (54%) saying they have used or would use a solicitor or professional Will-writer to set out their final wishes.

The Remember A Charity consumer benchmarking research*, carried out by independent research firm OKO, surveys more than 2,000 charity donors aged 40+ to track legacy giving attitudes and behaviour year-on-year. The 2022 research released today found that:

• One in five supporters said they had included a charity in their Will (20%)

• Just over one in 10 said they are preparing to do so (11%)

• Fewer than one in 10 reject the concept altogether (9%).

• Shape

The tracking research, which follows Prochaska’s Stages of Change model, shows forward movement over the years from donors’ rejection and lack of awareness through to awareness, contemplation, preparation and action (leaving a gift).**

Lucinda Frostick, Director at Remember A Charity, the consortium of 200 UK charities working to promote charitable gifts in Wills, says: “This continued growth in appetite for legacy giving is hugely encouraging, reflecting greater understanding of the option to pass on gifts to good causes alongside loved ones in a Will. It may take years –in some cases decades – for donations to filter through, but that income will be crucial in funding charitable services for generations to come.”

Just under two thirds of people surveyed (63%) had already written a Will, with three in 10 of those having included a charitable donation (29%). Despite the economic climate, the large majority of all respondents (80%) said they were just as likely to leave a charitable gift as 12 months earlier, with twice as many people (14%) saying they were more likely to give than those saying they were less likely (6%). More than four in ten people are aware of the inheritance tax advantages of leaving charitable gifts in Wills.

The age at which people first wrote a Will is unchanged; just over half write their first Will when under the age of 50, with the average age of first Will-writing being 50. Those more likely to have written a will are older and more financially affluent. Those with less assets, no children or grandchildren, or from ethnic minorities are less likely to have written a Will. The research reports that death of a loved one is a key trigger - particularly for those making their first Will when younger. Birth, marriage or house purchases are also strong triggers for younger Will-makers, while retirement is a major driver for older generations.

Remember A Charity runs a free Campaign Supporter scheme for solicitors and Will-writers, providing promotional resources and useful guidance for referencing legacy giving with clients. Find out more at www.rememberacharity.org.uk/about-us/for-solicitors-will-writers

*OKO, Legacy Giving Consumer Benchmark Research

Commissioned by Remember A Charity, the consumer benchmark research explores the public’s attitudes to legacy giving, with regular surveys carried out since 2009. The latest survey was carried out by OKO in December 2022; an online survey of 2,003 charity supporters across the UK, aged 40+. The research has been carried out by OKO since 2021, and nfpSynergy before that.

**Stages of Change

The Stages of Change model features six levels: rejection of leaving a gift in their Will; pre-contemplation unaware – those who have never thought about it and are not sure if they would consider it, precontemplation aware – those who have thought about it and given it low consideration; contemplation - those who know about it and would consider leaving a gift; preparation – those who intend to give; and action - those who have already left a gift in their Will.