What is Willanthropy?

The Remember A Charity organisers have teamed up with the well-known Countdown presenter, Susie Dent. Together they want to change the way people feel about their Wills and to consider including a charity. 

 

People are most likely to think about ‘death’ and ‘money’ if you ask them about their Will. Remember A Charity wants more people to take a wider view. Death is often considered the most challenging subject for people to talk about across the UK. Almost 60% of the UK’s population think it’s the ‘elephant in the room’. As a result, people don’t want to talk about what to include in their Wills either. 

 

Remember A Charity wants to change the way people feel about Wills and encourage them to see it as a practical, inspirational and empowering step. Leaving a charitable gift after you’ve taken care of your loved ones can make a big difference for many important causes. 

 

This year’s tracking study found that legacy giving is rising. More than one in five charity donors aged over 40 say they have included a charitable gift in their Will. That’s a rise of 5% since 2010. Over the same period people rejecting the idea of charitable gifts in their Will has dropped from 13% to 9%. 

 

The latest figures show that people in their 40s and 50s are most likely to include a legacy gift in their Will. They are probably single and without children or grandchildren. The most valuable gifts are from people who are affluent, aware of the inheritance tax incentives and who have taken professional advice. Three quarters say they would leave a small percentage of their estate to charity, and more than one in ten would leave 10% or more. 

 

There’s a slow but steady rise in the number of people who are writing Wills. Around one third of those who have a Will have included a charitable donation. A further third added charities when changing their Will. 

 

On average, people make their first Will when they’re just over 50 although more affluent people make their Wills earlier. Key life events such as births, deaths and marriages are the main prompts for Will writing. Retirement is a common time for older people to write their Wills. 

 

Words are powerful, so the campaign hopes coining a new term will help. Curiosity might encourage people to talk about their Wills and the ‘philanthropy’ of charitable gifts. The idea is to make will writing a conscious positive step that won’t cause people to worry about their future. 

 

With inflation putting pressure on everyone’s finances, charities rely more than ever on gifts in Wills. They generate around £4billion a year of vital funding. For some charities it represents half or more of their overall funding. 

 

Happily for these organisations around 100 people a day across the country are choosing to leave a gift to charity in their Will. People can easily include their favourite charities alongside gifts for their loved ones. It helps people feel positive about what their donation could achieve, no matter how small the sum.