Recent research has shown that the number of gifts being left to charities in by people in their wills has jumped by 53 percent year-on-year.
New data from Co-op has shown that UK citizens are becoming more generous when it comes to leaving a gift in their will to charities.
When comparing the figures of July 2018 – June 2019 to the previous twelve months, there was an impressive 53% increase in charitable giving via wills.
The most common types of charities that received gifts were children’s charities, local causes, rescue organisations, religious causes and charities to combat poverty. In fact, anti-poverty and homelessness charities are some of the fastest-growing beneficiaries.
The research was released earlier this month in the wake of Remember a Charity Week, an organisation which brings together over 200 charities to encourage individuals to consider leaving a gift to charities, after taking care of loved ones.
Recent research has shown that it is smaller charities that are increasingly being chosen for gifts, in the wake of the Oxfam scandal which unfolded in early 2018.
Last year an incredible £3 billion was donated to charities via wills. However, nine of the 25 highest-earning organisations received less than the year before, in what appears to be a telling move away from the larger charities.
Figures have shown that over 10,000 charities were named in wills in 2018, with people “beginning to question more who they are giving their money to”, according to experts.
People may be also be keen to leave money to a charity due to more lenient tax measures brought in within the past decade. In 2012, a change in the law meant that if a person left behind 10 percent of their estate to a charity, the inheritance tax would 36 percent rather than 40 percent.
Rob Cope, director of Remember a Charity, stated:
I think it is undoubtable that there has been greater scrutiny of larger charities, but people are still giving to them.
In the past, people may have just donated to larger charities, but we are seeing an increase in the breadth of charities supported.
People are beginning to question more who they are giving their money to, and therefore choosing to support a range of charities including local museums, hospices and a new focus on the arts.
How can Percy Hughes & Roberts help?
At Percy Hughes & Roberts Solicitors, we have a team of dedicated wills solicitors who are ready to help you resolve your query or issue as quickly and effectively as possible. Perhaps you would like to leave a gift to a charity in your will and are unsure how to go about it?
If you need assistance with writing a will, leaving a gift in your will, making a change to a will, or simply want general advice, our Wirral Wills solicitors have a wealth of experience.