Charitable Wills handled by legal advisers reach 22 per cent
Solicitors are playing an increasingly central role in charitable Will-writing, a study has found.
Today’s Wills & Probate reports that just over 20 per cent of Wills handled by a UK legal adviser include a donation to charity.
The data, from the Savanta-Will writing survey commissioned by Remember A Charity, also found that 71 per cent of solicitors and Will-writers always or sometimes let clients know about the Inheritance Tax benefits of leaving a charitable gift in their Will.
This was up from 61 per cent in 2013, the survey found.
It was also revealed in the survey that 86 per cent of advisors actively bring up the topic of charitable donations to their clients went writing a Will.
Gifts left in Wills continue to be a large source of income for UK charities, along with offering tax incentives for those making a Will, all while helping a good cause.
Donations left to charity are taken off the value of an estate before Inheritance Tax is calculated or the Inheritance Tax rate is reduced from 40 to 36 per cent as long as ten per cent or more of the estate is left to charity.
Rob Cope, Director of Remember A Charity, commented on the findings: “There’s so much to think about when writing a Will, particularly when it comes to taking care of family, friends and all those we leave behind, so a charitable donation is easily forgotten. But people in the UK are often deeply charitable, finding it both empowering and a great comfort to remember good causes by leaving a gift in their Will.
“Legal advisers are hugely important in this space. Even the simplest of references to the option of making a charitable bequest can double the chances that a client will do so, raising vital funding for good causes, while helping them feel fulfilled that all those things they care about are covered in their Will.”
The stats come as findings from Remember A Charity last month revealed that a growing number of people are including donations to charity in their Will.
The report found that almost 19 per cent of charity supporters aged 40 and over have already written a gift to charity in their Will, up from 14 per cent in 2013.
For expert advice on Wills and probate, don’t hesitate to get in touch with our estate planning team today.
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