In 2019 Smee & Ford found that legacy income is worth over £3 billion to the Charity sector. However, they found only 6.3% of the population are leaving charitable bequest. This equates to 123,235 during 2018. The top 25 charities annual legacy income equates to £1.6 billion, which is evidenced by their investment in marketing.
On average 16.7% of an estate was gifted to charities when bequests were made. Therefore, if just 1% more of the population leave a bequest that would equate to £109 million per annum.
The research Smee & Ford conducted indicated that the South East of England is significantly more likely to leave charitable bequests.
How can I leave a charitable bequest?
Currently, it is estimated that 60% of the adult population do not have a Will. So if you do not have a Will and want to leave a charitable bequest then you need to get one. If you have one then you can either have a codicil drafted or preferably a new Will that contains the bequest.
There are so many other benefits to making a Will. It could reduce your inheritance tax bill, ensures the right people inherit and enables you to leave the people and things you love in capable hands.
The first thing to do is to book an appointment to discuss your Will writing needs with our team.
We provide advice on your situation and explain what sort of Will you require. Within the advice, our experts outline how and in what way you would leave a legacy to your chosen charity.
After our consultation we outline our fees, then once agreed our team begin drafting. The drafts are sent across to you to review. If agreed, we organise signing. Currently due to Covid-19 our Wills are accompanied by advice on how to sign.
Get in touch…
Complete the form