A survey of people in their 60s for this year’s Remember A Charity Week has found that more than one in three would consider making a charity bequest.
Remember A Charity – a group of more than 140 leading charities aiming to make legacy giving the norm – quizzed 2,000 people in their 60s and found that 16 per cent had already left assets to charity in their will. Of those yet to make a will, 35 per cent would consider do so.
The survey, published on 24 July, also revealed that charity respondents were actively supporting good causes in practical ways, with more than one fifth (22 per cent) volunteering.
Rob Cope, director of Remember A Charity, said: “It is fantastic to see that one in six have already included a charity in their will and twice as many would consider doing so. This tells us there is far greater potential still to be met when it comes to growing legacies.
“People know they can give in this way and many are willing, but there is a need to normalise this form of giving and ensure that it becomes a regular part of the discussion when planning a person’s inheritance or will.”
Remember A Charity is working with the charity sector, government, businesses and professional advisers this summer to encourage the public to include a charity when writing in the run-up to Remember A Charity Week 2015, which runs from 7-13 September.
As well as bringing financial benefits to charities, a charitable legacy can be a useful tax planning tool where an estate is subject to inheritance tax (IHT), by reducing the overall rate of IHT paid.
As tax specialists, Moore Thompson can provide comprehensive advice to charities, their supporters and their other professional advisers to help maximise the value of legacy donations from a tax perspective. For more information, please contact us.