Remember A Charity coins new term - ‘Willanthropy’

Remember A Charity is calling on dictionaries to recognise a new term to celebrate the generous acts of everyday people that are on the rise. ‘Willanthropy’, the act of giving to charity in your Will, seeks to overcome a big misconception: that you need to be wealthy to do something wonderful and make a difference for good causes in your Will.

The number of adults aged 40+ who have left a gift to charity in their Will has risen by 43% in the past decade – a steady increase in the proportion of people choosing to give from their Will over time*.

After taking care of family and friends, even leaving a small gift in a Will could help to make a huge impact on charities big and small.

And it matters now, more than ever, with 81% of charities revealing that service needs increased compared to last year and just over a third (38%)** confident they can afford to meet this. This is why Remember A Charity is coining the new term to inspire more everyday people to consider leaving a gift to charity in their Will.

Not only do donations enable people’s passions and values to live on through their favourite charities’ work – but they can also offer generous tax incentives. When you leave a donation to charity in your Will, that amount is free of tax, effectively increasing the tax-free allowance. And if you donate 10% or more of your estate, the inheritance tax rate is discounted from 40% to 36%, which can make a considerable difference***.

Willanthropy comes in all shapes and sizes – from small but no less meaningful donations to sizeable gifts, anyone can be a Willanthropist.

Through its member charities, Remember A Charity has pulled together the stories behind some of the UK’s Willanthropists: Discover the nation’s growing community of Willanthropists.

Lucinda Frostick, Director of Remember A Charity, says:

“Charities play such a huge part in our communities all over the UK. By remembering those close to our hearts with a gift in our Will, we can ensure that their work lives on long beyond our lifetimes. We’re thrilled to be celebrating the nation’s Willanthropists and hope to inspire people across the country to consider those causes that have touched their lives – and what a difference a gift in their Will could make.

“So, if there is a charity that you’re passionate about in your community, please consider remembering them in your Will once you’ve taken care of your loved ones.”

To mark the launch of Willanthropy, Remember A Charity is calling on dictionaries to recognise this as an official term and encouraging the public to celebrate and share their own stories of Willanthropy, using #Willanthropy on social media.

Sources

* https://www.rememberacharity.org.uk/about-us/for-charities/our-impact/

** https://www.cafonline.org/docs/default-source/about-us-research/uk_giving_2023.pdf

*** https://rememberacharity.org.uk/learn-about-leaving-a-gift-in-your-will