Legacy giving for high net worth individuals
Charitable giving is prevalent amongst high net worth individuals, and the option of leaving a charitable legacy is all the more appealing thanks to the Inheritance Tax advantages.
Our latest benchmarking study shows that over one third (36%) of charitably-minded millionaires with a Will aged 40+ have included a charitable gift*. And yet, the potential is far greater. One in five of those who have not included a charity in their Will said this was because they simply didn't think of it at the time - nobody raised it with them.
This is where wealth advisers can play such a crucial role - making clients aware of the opportunity of leaving a legacy and seeing their values, philanthropic goals and aspirations live on. Find out more about how legacies can be structured to meet your client's needs.
Structuring a charitable legacy
Discover more about the different options available to help your clients achieve their philanthropic goals.
Case studies
Tax incentives
Not only does donating part of their estate to charity enable high net worth individuals to leave a lasting and transformative impact, it also offers generous tax incentives.
Legacy gifts to charities are exempt from Inheritance Tax. And if an individual gives over 10 per cent of their net estate** to charity, they can benefit from a discounted inheritance tax rate of 36 per cent.
This can bring the tax payable down significantly, making the estate work harder for both loved ones and charities.
** Visit gov.uk for more information about the 36% discounted inheritance tax rate.
Find a charity
Our member charities rely on gifts in Wills to continue their wonderful work.
*OKO / Remember A Charity, Stages of Change Benchmarking Study 2023. Based on 120 UK charitable donors aged 40+ with assets of £1m+.