Posted on 14th January 2010
Nearly one in four (23%) of the population plans to leave money to a charity in their will, according to new research published by Standard Life.
More people in the 18-24 age group (40%) plan to do so than any other group, with the rate dipping to 18% for those aged 35-44 and to 17% for the 45-54 group. Only 25% of respondents over 65 intend to leave a legacy. However, it is worth noting that the question is about intention, rather than actual fact: not all of the respondents had made a will.
In terms of social groupings, those in social class AB are the most likely to say they intend to leave a charitable legacy (31%), with the rate decreasing steadily through to 17% of people in the DE grouping.
Respondents were also asked if they volunteered for a charity. 21% of people said they did, including 23% of women and 18% of men. Older people were more likely to volunteer than younger people; just 17% of 18-24-year-olds said they volunteered, compared to 25% of people over 65. Whilst the number of people volunteering decreased with social class, the level of commitment was significantly higher among the less well-off volunteers – 23% of those in social class DE who volunteered did so for more than 20 hours a month, compared to 10% of individuals in the AB group.
The survey also found that those who devote time to a charity are more likely to leave money in their will to a charity than those who do not (35% compared to 20%). Julie Hutchison, head of estate planning, Standard Life says, “It is encouraging to see the correlation between giving time and the intention to leave a legacy.”
Meanwhile, Sue Ryder Care has decided to promote legacy giving through its 354 shops. The health and social care charity receives around £6m in legacies each year, a relatively small amount compared to Marie Curie Cancer Care’s £24m and Macmillan Cancer Support’s £40m.
Gill Cannon, manager of the charity's legacy and history department, told Third Sector that the majority of the shops' volunteers and donors were over 50, the ideal demographic group for the poster and bookmark campaign.
She said the charity had considered a direct-mail campaign to promote legacy giving but decided to use its shops because the approach was more personal and cost-effective.
