One in three people with a Will include a charitable gift

With the largest intergenerational wealth transfer now underway, new data from our latest tracking study reveals that almost one in three people aged 40+ with a Will have included a gift to charity (32%).

The study, based on over 2,000 people who donate to charity more than once a year, indicates that people often write their Will at a younger age than others might think. Almost half of those who have made a Will, did so before they reached their 50s (49%). However, it also shows that almost 2 in 5 people aged 40+ (37%) have not yet written a Will at all.

This New Year, we're encouraging people, when writing or updating their Will, to consider all the things they care about; loved ones and good causes alike. 

Importance of Will-writing 

As New Year’s resolutions take shape, January remains the most natural time of year for a financial reset. Writing or updating a Will is essential for anyone who wants to influence how their assets will be distributed beyond their lifetime, while being a key opportunity to protect family, loved ones and any good causes they wish to support.  

Good estate planning can also help families reduce their Inheritance Tax (IHT) bill. Charitable gifts in Wills are free of tax, with donations of 10% or more of the net value of the estate reducing the IHT rate from 40% to 36%. However, even amongst wealthier UK households, a significant knowledge gap remains about these tax incentives, with 30% of millionaires in this study saying they were unaware of the tax breaks on charitable gifts in Wills.  

Evolving fiscal landscape 

This news comes at a time when IHT receipts continue to rise. The Chancellor’s Autumn Budget statement revealed that IHT thresholds will be frozen for another year (until 2030/31). With the Government’s plans to draw inherited pension pots into the scope of IHT from April 2027, experts are predicting that around twice as many estates will be liable for IHT by 2031, prompting more households to think carefully about how they preserve and pass on wealth.

Solicitors, Will-writers and financial advisers are already reporting a growing appetite for inheritance planning. In recent research, 60% said they have seen a rise in demand for estate or tax planning advice, and 65% say they expect charitable tax incentives to become even more important to their clients in the years ahead.

With the UK entering the largest intergenerational wealth transfer in history and many more estates facing an Inheritance Tax liability, having an up-to-date Will in place has never mattered more.  

Impact of charitable gifts in Wills 

This January, Remember A Charity is urging people to reflect not only on their financial affairs, but the good causes they wish to support alongside their loved ones. Charitable gifts in Wills can make a considerable impact on good causes and communities across the UK – funding vital research, care in the community, emergency helplines, animal welfare, environmental causes and so much more. 

Lucinda Frostick, Director of Remember A Charity, says: “The new year is a great opportunity for us all to get our affairs in order and it’s deeply inspiring to see that – for so many people – that includes good causes as well as our loved ones. We’re seeing a growing sense of social responsibility and a real desire to leave the world a little better. No matter the size of the gift, remembering a charity in your Will can be one of the most empowering things to do – helping to sustain urgently-needed charitable services for future generations.”  

James Antoniou, Head of Estate Planning & Senior Solicitor at Co-op Legal Services, says:  "Typically, the start of the year is the most popular time for putting a Will in place. It’s an essential part of planning for the future and a properly prepared Will is often much easier to do than people realise. Gaining peace of mind that your wishes will be legally recognised and your assets protected for your loved ones after you’re gone are often key incentives however we are increasingly seeing clients choose to include charitable causes in their Wills, leaving a lasting legacy that can make a real difference to the causes that matter to them.”  

To explore how charitable gifts in Wills are changing the world, visit the Great Map of Willanthropy.