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Forward strides made in legacy giving campaign

Minister for culture: 'Legacy giving is fundamental to the future of the cultural sector'

27 October 2015

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The number of law firms who have committed themselves to discussing legacy giving with their clients when they come to draw up their will has surpassed 1000 firms.

A collaborative effort involving the charities, legal industry bodies and the government during the 'remember a charity in your will week' (7-13 September) helped add a further 230 new firms to the roll.

Research carried out by the charity, Remember A Charity, has previously shown that 35 per cent of people in the UK would be happy to leave a donation to a charity in their will, but only 7 per cent of people actually do.

This was mirrored by findings from a research commissioned by the British Heart Foundation earlier this year, which found 43 per cent of respondents would want to leave money to a charity.

Rob Cope, director of Remember A Charity, highlighted that active engagement from advisers can, in some cases, increase legacy giving threefold.

'Solicitors and professional advisers are hugely important in advising clients about all the options they should consider when it comes to making decisions about what to do with their estate.

'Their role in highlighting the opportunity and tax benefits of leaving money to charity has been shown to double (and in some circumstances treble) the number of legacy gifts made. That is why we are working hard to get more firms on board each year and are so grateful to the government for its continued support.'

Legacy income in the UK is worth around £2bn a year to charities and forms an integral part of many charities' financing structure.

Minister of state for culture, media and sport, Ed Vaizey, commented: 'Legacy giving is fundamental to the future of the cultural sector. Charitable legacies are the foundation for many good causes in the UK and are vital in continuing their work.'

Binyamin Ali is editor of Private Client Adviser

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Wills, Trusts & Probate