Online wills more likely to include a charitable gift, research reveals

Legacy Futures’ latest Digital Legacy Insights research highlights the growing role of online wills, with nearly one in ten wills now created digitally – a number expected to rise in the coming years. 

Key findings show that online will makers are more likely to include charitable gifts, and they tend to be younger, have higher household incomes, and be more digitally engaged. However, challenges remain, including consumer confusion over a charity’s role in the process, a lack of differentiation between online will providers, and a long decision-making journey from consideration to execution.

For charities, the report underscores the need for clarity, strategic stewardship of younger supporters, and careful risk management when partnering with online will providers.

Almost one in ten wills made are now made online, a figure that is set to grow over the next few years as online channels become increasingly viewed as a more convenient and affordable way to make a will. For a large number of charities, online wills are being used to attract and engage would-be donors, providing an effective, scalable and measurable way to generate legacy gifts.

The research revealed that nearly one in ten (9% of) people who have created a will have done so online, and one in five who have yet to make a will plan to do so online.

What’s more, online will makers are more likely to be younger, have a higher household income, be working, single and have children than the average will maker; however, a significant proportion are aged 65+.

Confusion exists around the role of the charity in the online will making process, with some people unsure whether they are ‘supporting’ the charity just by using the service, or believing the service is part of the charity’s provision.

Many consumers assume that all online will products are broadly the same. When carrying out research to decide which provider to use, their focus is more likely to be on ensuring the company is reputable and that the process of making the will is smooth rather than the finer details and terms and conditions of the individual product and whether it fits their requirements and circumstances.

The research also found that a consumer’s journey to making an online will is not linear; long time lags were reported between the initial consideration (to leave a legacy gift) and the action (to commit to the gift in a will).  Anna Turner, head of research and insight at Legacy Futures, said:

“These findings provide valuable insight into how consumers are using online wills and highlight their growing significance in legacy fundraising. As more people opt for digital will creation and providers enhance their offerings, this trend is set to continue, shaping the future of charitable giving through online wills. This is potentially very exciting for charities, for whom the trend presents further opportunities to garner legacy supporters.

With younger people being increasingly digital first and more likely to turn to the internet for advice and conduct their financial affairs online, it is likely that a significant proportion of new people entering the will making market will gravitate towards an online option.”