Charitable gifts in Wills most prevalent among younger Will-makers

A blog by Lucinda Frostick, Director of Remember A Charity

Our latest consumer tracking research is out today, revealing some fascinating insights into the latest Will-writing and legacy giving market trends. Here, we summarise some headline findings that could be of interest to you as solicitors, Will-writers and other professional advisers.

Key findings

For 15 years, we’ve been tracking public attitudes to charitable Will-writing from over 2,000 UK donors aged 40+. The study is carried out by independent research firm OKO and this year’s key findings – with data collected in November 2024 – show that the majority of charity supporters in their 40s and over have written a Will (61%) and just under one third (31%) of those have included a charitable gift. 

While older generations are most likely to have a Will in place, younger Will-makers are more likely to have pledged a charitable gift. The data shows that 34% of people in their 40s and 50s who have written a Will have included a charity, compared with 30% of those aged 60+. 

Although many people are now writing Wills at a younger age, the average age of writing a Will is 50. Surprisingly perhaps, half (50%) of those with a Will - and 41% of those aged over 70 - have never updated it. When people have updated their Will, they are around four times as likely to have added than removed a charity (43% vs 11%).

Charitable giving motivations

Over the years, legacy donations have become a crucial income stream for charities and community-based organisations across the UK, building their resilience and funding services for future generations. Charitable legacies now raise more than £4 billion (1) of vital funding a year for good causes, with almost 11,000 charitable organisations named in Wills (2). 

Awareness of the option of including a charitable gift and of the Inheritance Tax incentives have increased, but there are still some misconceptions that legacies have to be particularly sizable.

When it comes to the key motivations for including a charitable gift, the research highlights the importance for donors to recognise that even a small gift can make a difference and that charities rely on gifts in Wills to continue their vital work. For many, however, leaving a gift is simply a natural step after supporting charities for a long time. 

Amongst those who have written a Will, but haven’t included a charitable gift, 1 in 4 simply didn’t think about it at the time. The most prevalent reason for not including a charity was that they wanted to leave everything to family and friends, although many felt they didn’t have the money or assets to leave a large amount. 

This highlights the importance of reassuring the public that charitable legacies don’t have to be large to make a difference, and that gifts for their loved ones come first. Legacy gifts of all sizes are deeply valued by charities and the collective impact can be utterly transformative for a growing number of charities, large and small.

The role of professional advisers

Advisory professionals continue to play a critical role in increasing awareness across their client base of the option of including a charitable gift in a Will, alongside gifts for family and friends. The research shows that 66% of those who have written a Will used a solicitor and a further 17% used a professional Will-writer. Legacy giving is more common amongst those with wealth, and those who consult a financial adviser. 

This study shows long-term growth in people’s appetite for including a charity in their Will, but what’s particularly fascinating is to see how prevalent this has become for younger Will-makers, seeding welcome hope for the future. 

 

(1) Legacy Futures Data Dashboard 2024

(2) Smee & Ford, Legacy Trends Report 2024