A nation of givers: Co-op Legal Services reveals huge increase in charitable gifts left in Wills

09 September 2024

Co-op Legal Services business data* reveals that 2023 saw a 40% increase in the number of cases where a charitable gift had been included in a Will
The legal services provider shares that £64.8m worth of charitable gifts were pledged in Wills last year, a 27% increase on the previous year
Cancer charities were the most popular charity type included in Wills in 2023, followed by animal charities
Some of the most unusual items left in Wills included an adapted bicycle, a collection of vinyl records, a rare 18 carat Welsh gold diamond engagement ring, a collection of guitars, and a collection of diving artefacts
Co-op Legal Services is encouraging people to consider leaving a gift to charity in their Will as part of Remember a Charity Week (9-15th September)

Business data collated by Co-op legal Services, the UK’s largest regulated provider of wills, estate planning and probate services, reveals that charitable gifts included in Wills increased by a 40% in 2023 compared to the previous 12 months.

The value of the charitable gifts has also increased as £64.8m was pledged in Wills last year, a 27% increase on the previous year.

The data revealed the top ten charity categories Co-op Legal Services’ clients chose to leave gifts to in 2023:

Cancer charities
Animal charities
Other health charities
International Aid & Development charities
Emergency Rescue charities
Mental health & disability charities
Advancing religion charities
Environmental charities
Children's charities
Homelessness charities

As with previous years, cancer charities have remained at the top of the list, and this year animal charities have jumped from fourth to second highest ranked.

This year’s Remember a Charity Week campaign is celebrating the unique hobbies of loved ones and some of the quirkier items left behind that encapsulated their personality. Co-op Legal Services’ clients have gifted a range of unusual items in their Wills, such as an adapted bicycle, a collection of vinyl records, a rare 18 carat Welsh gold diamond engagement ring, a collection of guitars, and a collection of diving artefacts.

James Antoniou, Head of Estate Planning for Co-op Legal Services said:

“Many charities rely on legacy gifting in order to keep doing their amazing work, so it is encouraging to see that more people each year are choosing to pledge money and personal items to charities in their Will. Remember a Charity Week is a time for people to reflect on what is important to them and how they want to be remembered, and Co-op Legal Services can help you put a legally valid will in place in order to plan ahead.”

Top five things people need to know when leaving a gift to charity in a will, according to Co-op Legal Services Head of Estate Planning James Antoniou:

What should you consider when choosing a charity?

“There are no set rules to follow when choosing which charity or charities a person would like to benefit in their Will. Typically though, people are either passionate about a particular cause or they have been impacted either directly or indirectly in some way by the charity.”

Are consumers taxed on the money they leave to charity?

“Generally speaking, a gift to charity in someone’s Will is exempt from Inheritance Tax. However, anyone considering doing it needs to ensure that the charity is a qualifying charity. This can be confirmed by asking the charity for their tax-exempt reference number.”

Is it just money that can be left to charity or can other personal belongings be left instead?

“It’s possible to leave anything that’s in a person’s estate to a charity including their property, land, shares or a specific item such as an item of jewellery or a piece of art for example. If you would like the charity to use the inheritance for a particular purpose, then you should discuss this with them in advance to make sure it’s feasible.”

How many charities can someone leave a gift to?

“There isn’t a limit on the number of charities a person can leave a gift in their Will to. However, it is important to consider which items or the amount of money they would like to give to each charity.”

Is there a set list of charities which people need to choose from?

“Anyone thinking about leaving a gift to charity in their will can visit the Charity Commission's website for a full list of all charities registered in England and Wales.”

For further information about Co-op Legal Services, please visit: https://www.co-oplegalservices.co.uk/making-a-will/

Visit the following page to find out more information: https://www.co-oplegalservices.co.uk/making-a-will/will-writing-and-donating-to-charity/

ENDS

Notes to the Editor

*Taken from Co-op Legal Services business data from 12 months trading activity in 2023 compared to prior year.

About Co-op Legal Services

Co-op Legal Services is authorised and regulated by the Solicitors Regulation Authority, providing legal services in England and Wales. It is one of the largest providers of estate planning and probate services in the UK, with specialist practices in family law, serious injury and medical negligence.

Co-op Legal Services’ mission is to help people understand the law, to use the law to protect their future and that of their loved ones. It achieves this by providing accessible, engaging, professional legal advice and support through a blend of digital and 1-2-1 specialist advice.

Co-op Legal Services is part of the Co-op Group

Co-op is one of the world’s largest consumer co-operatives with interests across food, funerals, insurance and legal services. Owned by millions of UK consumers, the Co-op operates over 2,500 food stores, over 800 funeral homes and provides products to over 5,000 other stores, including those run by independent co-operative societies and through its wholesale business, Nisa Retail Limited.

Employing almost 60,000 people, the Co-op has an annual turnover of over £11billion and is a recognised leader for its social goals and community-led programmes. The Co-op exists to meet members’ needs and stand up for the things they believe in. For further information, please contact pressoffice@coop.co.uk