Legacy giving rises among middle aged charity supporters

One in five charity donors aged over 40 have included a charitable gift in their will, latest figures reveal.

This proportion is up from one in seven 14 years ago, the figures published by the Remember A Charity group have found.

Over the same period the proportion of those rejecting legacy giving has dropped, from 13% to 9%.

Middle aged donors in the 40s and 50s are the group charity legacy teams should be targeted, the figures suggest.

Donors in this age bracket are the most likely to have pledged a gift, with almost two in five leaving money to a good cause in their will.

In contrast only around a quarter of over 60s have left a gift.

The figures also show that single people and those without children or grandchildren are more likely than those with families and a partner to give.

Unsurprisingly pledger rates are highest among the most affluent donors. Remember A Charity says they are “aware of the inheritance tax incentives and who have sought professional advice for their finances”.

The figures also suggest legacy giving could increase in future years with three quarters of charity supporters saying they would be willing to leave a legacy gift. More than one in ten say they would be open to leaving a tenth or more of their estate to charity.

The figures have been revealed in Remember A Charity’s consumer benchmarking study involving 2,000 donors.

“This study shows the long-term positive shift in legacy giving attitudes and behaviour, and that the propensity for giving in this way is gaining ground beyond the Baby Boomer generation, particularly for those in their 40s and 50s,” said the group’s director Lucinda Frostick.

“This indicates that there’s great potential for continued growth of the legacy market, but it also stresses the importance of supporter stewardship.

“Legacy income is crucial for an increasing number of charities. While we can’t impact the economic environment that drives legacy values, we can positively influence the proportion of people choosing to leave a gift; by working together, and engaging with legal partners, government and others to make legacy giving a social norm.”