Most people see legacy fundraising as a double taboo subject – death and money – and we certainly shouldn’t talk about those things. We’re British for goodness sake.
But the fact is, legacies aren’t about death, they are about life. Professor Russell James refers to them as a the final chapter in a person's autobiography. A reflection of their life, values and experiences.
And every day, thousands of lives are changed thanks to gifts in Wills. So I believe legacies are something we should all be proud of.
We must remember that when we talk about legacies. We’re not talking about the mechanics of Will making and death and dying, instead we’re asking people to think about the things they are passionate about in life and to help them continue into the future.
Naturally we need to talk about Wills because that is how we ensure our wishes are carried out after we are gone. But do not get confused about our role – we are fundraisers not legal advisers – so keep the practicalities clear and simple and focus on inspiring your supporters.
And that is true not just for us fundraisers, but everyone in our charity, from the volunteers on the ground to the Chief Executive at the top. Make sure your stories remind them how important gifts in Wills are to your charity – the lives they have saved, the groundbreaking research they have funded, the projects they have stopped from closing – and how much you need them for your future.
Building a positive legacy culture is something that is worth spending time on, because the more people that you can get to talk about gifts in Wills, the more people you will reach and the more money you will raise.
Tribute funds… public dedications… places of remembrance… it’s all going on with charities’ in-memory products. Some of these offers work well for supporters who aren’t yet ready to close the door on their giving or fundraising after they first connect.
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The Autumn Budget has brought some big changes to the UK’s tax system, particularly in the areas of inheritance tax, capital gains tax, and pensions—all likely to have an impact on legacy giving. With charitable legacy giving exceeding £4bn in 2023/24, these changes and their possible affects are certainly worth reviewing.
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A UK charity has received £1.8 million in a landmark legal decision, after winning a contested will case with the specialist help of Legacy Link, part of the Legacy Futures Group.
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