Research findings in 2018 shows more than 4 in 10 members of the public donate less money as a result of lack of trust in charities – how will this effect legacy giving?
Researcher Populas, on behalf of The Charity Commission, investigated overall public trust and confidence in charities which found it had decreased over the past two years.
Scandals reported in the media in relation to charities that have been hit over staff conduct is the main reason why trust in charities had dropped in the last few years – and overall trust and confidence in charities remains at similar levels to 2016 today.
The Law Society states ‘legacy income is currently worth more than £2.8 billion a year and is the largest single source of voluntary income to the charities sector’.
During this time of political and economic uncertainty, charities are increasingly competing with each other over fundraising, making legacy income an important part of their income strategy.
There is light at the end of the tunnel as Populas research indicates 58% think charities play an ‘essential’ or ‘very important’ role in society today which shows charities are still highly valued.
Legal Professionals understand legacy giving is a sensitive issue and some people are against the idea of individuals being encouraged to leave money to charities in their Wills. Nevertheless, charities cannot afford to ignore this important income stream.
Ian Bond, chair of the Law Society’s Wills and Equity Committee, stated…..”both charities and solicitors have a role to play in educating the public on the purpose and value of a will”
As a professional Will-Writer, has legacy giving to charities reduced? Do you think public perception of charity giving has changed?
