MacNairs + Wilson

3 minutes reading time (546 words)

Rise in Numbers Considering Leaving a Charitable Bequest

There are a number of important reasons why all adults should have a valid and up-to-date will in place. 

Benefits of Writing a Will

A will is the most effective way to ensure your assets are distributed in line with your wishes and also enables you to leave instructions on serious issues, such as who should look after any dependent children should both parents pass away. In addition, dying without a will in place can make matters much more complicated for your loved ones at an already difficult and emotional time.

An additional benefit to writing a will is that it enables you to leave a bequest to a charitable cause close to your heart. Legacy giving is an important source of income for most charities, and so it was good to hear that an increasing number of people are considering leaving a charitable bequest.

Increased Interest in Legacy Giving

Recent figures published by charity consortium Remember A Charity revealed that 27% of charity donors over the age of 40 said they plan to leave money to charity in their will, which is an increase over the 23% who said the same in 2009.

Looking at the figures in more detail, they show that as many as 16% of those questioned said they had already included a charitable bequest in their will, and a further 11% were arranging to do so. In addition, a further 13% said they were thinking about doing so.

“Bearing in mind that only 6% of people that die currently leave a legacy, even a small percentage increase can make a big difference in terms of charitable returns,” commented Rob Cope, director of Remember A Charity.

“It’s an exciting time for the sector, but with more and more charities coming into the marketplace, there is even greater need for organisations to invest in this area of fundraising and ensure they can continue to rely on such a vital income stream,” he added.

Funding Vital Research

Remember A Charity recently highlighted the difference that charitable giving can make to charities, by publishing figures relating to the British Heart Foundation.

The charity apparently received over £3.8 million in 2017 as a direct result of charitable bequests left to it in wills by people in Scotland.

Over a quarter of all cardiovascular research it carries out in the UK is funded by this type of legacy giving.

“Without doubt, the amazing individuals who have remembered us in their Will have contributed to treatments for heart disease that are today saving lives in the Scotland,” said Simon Gillespie, chief executive at the British Heart Foundation. “Half of our income comes from gifts left in Wills.”

Unfortunately, the latest figures suggest that around a fifth (19%) of people over the age of 65 still do not have a will. The most common reason given for not putting this important future-planning document in place was that they just hadn’t got round to it yet, which was mentioned by 58% of respondents.

Writing a will need not be a complicated or difficult process and putting one place generally brings great peace of mind.

Contact Us

To find out more about writing a will, or including a charitable bequest in a will, then contact our specialist will writing lawyers today.

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