Cultivating a relationship with advisers - Cancer Research UK

This example demonstrates the value of a strong charity-adviser relationship.

At the time of drafting his Will, this individual had terminal melanoma. He was not a supporter of Cancer Research UK but, given his condition, and after discussions with his solicitor, who highlighted the option of leaving a charitable bequest, he opted to support a cancer charity(ies) when he died.

He created a discretionary Will Trust, which provided that after leaving gifts to family, he wanted the bulk of his estate, which consisted of property, commercial property and investments, to pass to a Trust which would hold the estate for a charity or charities that supported “cancer research” and “the awareness of cancer”. His Trustees, on his death, would select a charity or charities that aligned with the purpose of this clause and distribute the funds to them.

The solicitor who drafted the Will (and executor) had good knowledge and understanding of Cancer Research UK’s work in the field. He was not a Trustee of the Will Trust. When the deceased passed away approximately six months after drafting his Will, Cancer Research UK was invited to submit a proposal to the Trustees alongside other cancer charities.

The Trustees decided to allocate the entire Trust Fund to Cancer Research UK which totalled £7.1 million. It was important to restrict the gift to be able to show the Trustees some tangible impact and understand how the funds would be allocated towards specific areas of cancer research and awareness programmes.

This case study highlights how cultivating relationships and being able to steward these relationships over time with private wealth advisers can create opportunities for high value gifts. It also demonstrates the importance of being able to position a charity's work and impact in a way that resonates with professionals to show how the ‘investment’ will be directed.