Study reveals move towards earlier Will-writing

New research from our consumer tracking study, carried out by independent research agency OKO, highlights a shift towards earlier Will-writing, with charitable gifts most commonly included when supporters reach their 50s.

The figures from the study highlight how planning for the future is starting earlier, even though major life milestones such as home ownership, marriage and children are often happening later in life. Amongst those who have a Will, Generation X is most likely to have written their first Will before they reach the end of their 40s, Baby Boomers in their 60s and Silent Generation in their 70s.

Jeremy Rix, Managing Director of the independent research agency OKO, says: “People like to feel like that they’re exerting some control in uncertain times by planning ahead. Given an easier process and a wider range of options available, making a Will is one practical way they can do this.”

Legacy giving is an increasingly common component of Wills and estate planning. The study shows that 22% of people (or 32% of those with a Will) say they have included a charitable gift in their Will, up from 14% in 2010.

What's more, over one third (35%) of those who haven’t yet left a gift are open to doing so.

Generational shift in charitable Wills

The research highlights notable generational differences in how people approach writing their Wills.

The role of professional advisers remains key, with two-thirds (66%) of those with a Will writing it via a solicitor, and 18% through a professional Will-writer. Younger generations are increasingly open to a broader range of Will-writing services, with 28% of Gen X-ers respondents said they would make a Will online or have already done so, compared with around 10% of Boomers and the Silent Generation respondents.

60% of individuals who discussed leaving a charitable gift in their Will with a professional adviser went on to include a charity, demonstrating the impact that informed conversations can have on charitable outcomes.

The results also underline that Wills are not static documents, and many people expect to update them over time. While 49% of respondents have never changed their Will, 53% expect to change it at some point.

Importantly, when people do update their Will, they are far more likely to add a charitable gift (47%) than remove one (8%). 

The research reinforces the importance of strong relationships between charities and their supporters. Those who volunteer for a charity are most likely to include a gift in their Will, followed by those who have fundraised for good causes, regular givers and charity beneficiaries.

Despite this strong engagement, many charities remain unaware of the gifts pledged to them, with 66% of people who have included a charitable gift in their Will saying they have not informed the charity.

Positive long-term trend for legacy giving 

The research forms part of our long-term tracking study, which uses the Stages of Change behavioural model to monitor public attitudes towards leaving gifts in Wills.

The latest results show that legacy giving has grown steadily over the years, with 22% now having pledged a gift, 15% contemplating it and 12% preparing to do so, with only 9% rejecting the idea.

Taken together, these findings show a maturing landscape where earlier planning, stronger adviser involvement and deepening supporter relationships are creating real momentum for legacy giving.

Lucinda Frostick, Director of Remember A Charity, says:  “Legacy giving has seen steady, long-term growth in the UK, becoming an increasingly vital source of income for charities of all sizes. Yet there remains significant room for growth. And this is particularly important at a time when other forms of giving are under real pressure.

“By deepening our understanding of how different generations think about and engage with legacy giving, we have a powerful opportunity to bridge that gap, opening up new conversations and inspiring more people to take action and leave a gift.”