Are Charities doing enough to encourage donations left in Wills?
- Published on Wednesday, 25 September 2013 11:36
- Written by Sinead Fynes Black
Gifts in Wills are currently bringing in £2 billion per year for UK charities, which is a staggering 13% of all charitable donations.
If a Solicitor reminds a client of this course of action, it has been seen in a trial this year to be three times as likely for a donation to be left in a Will. This could have a significant financial impact for good causes, if handled correctly.
Gifts in Wills are incredibly important to UK charities, without this income charities would have to cut services and many would simply not exist. Two out of three guide dogs and six out of ten life boat launches are paid for by gifts in Wills, as is over a third of Cancer Research UK's life-saving work. Gifts in Wills are the equivalent of 19 Comic Reliefs appeals each year.
The legacy giving trial by the Cabinet Office Behavioural Insights Team showed that when solicitors or Will writers simply mentioned to people that leaving a gift to charity was an option, the percentage of people who did so rose from just 5% to 10%. They rose again, to 15%, when people were also asked if there were any charities that they were passionate about. An additional £1 million of gifts was left to charities in Wills as a result of the trial in 2013 alone.
The trial, which looked at over 1,000 new Wills over six months, was conducted by The Behavioural Insights Team.
Source: Behavioural Insights Team