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Legacy gifts - passing on the baton to others

Remember a Charity Week 2016

By Claire Fuller | Events Fundraising News | 12 September 2016

From 12th – 18th September it’s Remember a Charity in your Will Week.

According to Remember a Charity, 74% of the UK population support charities and 35% of people say that when family and friends have been provided for, they’d be happy to leave a gift in their Will.  However, only 7% of people actually go on to do this.

The aim of Remember a Charity in your Will Week is to raise awareness and encourage more people to consider leaving a gift to charity.

This film of the Extreme Will-writers from last year’s Remember A Charity Week show’s people as they do something legendary for charity… https://www.youtube.com/watch?v=ZBL4yADPSeU&feature=youtu.be

About Legacy Fundraising

A legacy from a donor’s will is one of the most traditional methods of people giving to charity and it has always remained an important one. UK Charities alone receive an estimated £2 billion from legacies every year.

There are four main types of gift commonly left to a charity in a will:

  • Pecuniary Gift – A sum of money left specifically to a charity in a will
  • Residuary Gift – This gift represents the remainder of an estate after all other beneficiaries have been provided for
  • Specific Request – This is when a specific, named item (such as a painting) is left to the charity
  • Contingent benefit – This type of gift depends on other factors occurring.  For example, the gift depends on the donor outliving all other beneficiaries.

What are the benefits of legacies to charities?

Statistics from the Institute of Fundraising indicate that to the voluntary sector as a whole, annual income from legacies makes up 15% of all voluntary income received by British Charities.  This means legacies have the potential to represent a large and cost-effective income stream for charities to fundraising.

Remember a Charity this year

Legacies can have a lasting impact on charities and their work

Through leaving a gift in your will for a charity, it has the ability to leave a lasting legacy that could make a huge difference to the work of a charity and the people who benefit from this.

If you are a marketer or fundraiser of a charity, remember your charity this year.  How are you encouraging people to make a donation and leave a gift that lasts for more than a lifetime?

For help and information about legacy fundraising please contact us and talk to Phil and our expert fundraisers.

References:

Remember a Charity 
Institute of Fundraising 
Images courtesy of istock 

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