Co-op calls for rise in legacy giving this Remember a Charity Week
11 September 2017
- 1 in 10 people with wills opt to make charity donation
- Poverty, homelessness and cancer charities most popular beneficiaries
- Co-op is offering customers up to 20% off¹ wills to encourage charitable bequests
Co-op Legal Services is urging the nation and will providers to take action as national Remember A Charity in your Will Week 2017 commences (11th – 17th September).
According to recent research, over half of UK adults (56%²) have a will, yet Co-op’s business data from the past year reveals that only 9%³ of those who make a will opt to include a gift to a charity.
Gifts left in Wills are vital to charities, with Cancer Research UK stating it makes up over a third of its income⁴.
Co-op plans to encourage charitable bequests this year, offering a discount of up to 20% off their will writing services through their partnership with the 190-strong charity consortium, Remember A Charity, encouraging UK adults to consider charities when recording their final wishes.
Co-op’s latest business data highlights that whilst Co-op clients are leaving gifts most frequently to charities which tackle poverty and cancer, animal charities are pulling on our heartstrings with over a tenth (14%) of all legacy gifts being given to them.
Community initiatives and local causes also hold a lasting place in our hearts as people seek to give back to the community where they have lived. Almost 13% of legacy gifts have been pledged to these over a 12 month period.
Full break down of the charity categories Co-op’s clients have chosen to leave gifts to are as follows:
1. Poverty and Homelessness
2. Cancer charities
3. Animal charities
4. Local causes / community
5. International charities
6. Children's charities
8. Rescue Organisations
9. Help for elderly
10. Religious causes
However, it isn’t just money that’s left to charity, people also choose to give more personal items to charitable causes. Cancer Research UK’s generous supporters have left a range of interesting items, including houses, land, part of a river, paintings, football programme collections, jewellery, books, and a stunning pair of antique Chinese vases which were sold on their behalf at auction for nearly £60k.
James Antoniou, Head of Wills for Co-op Legal Services said:
“We work with a number of large and smaller charities offering affordable will writing services to their supporters. As such we understand that there is certainly a desire for clients to leave charitable gifts of all types in wills, for a variety of reasons and this is something that the charities heavily rely on. These gifts can be small or large and they don’t necessarily have to be financial.
“We’re delighted to be partnering with Remember A Charity for the fifth year running, as we share their aim to make will writing and considering leaving a gift to charity the social norm.”
Rob Cope, Director of Remember A Charity, commented:
“We’re delighted that Co-op Legal Services is continuing to champion and drive legacy giving forward on behalf of our charities. Gifts in Wills are the lifeblood of so many vital services that are provided by charities all over the UK.
‘’We hope this Remember A Charity Week will encourage even more people to consider how they can have their say on the world they want to pass on. If everyone left just a small amount to good causes, once they’ve taken care of loved ones, it could make an enormous difference for future generations.”
What we can offer:
- Case studies on those who have left to a charity in their will
- 5 pointers from Head of Wills, James Antoniou when considering leaving a gift to charity
- 5 celebrities who are leaving their wealth to charity
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For further information about Co-op Legal Services, please visit: https://www.co-oplegalservices.co.uk/about-us/
Notes to Editor
¹With the Remember A Charity discount, customers can get up to 20% off Co-op’s Will Writing Services with prices starting from only £99 + VAT (£118.80) for a standard single Will or £169 + VAT (£202.80) for standard mirror Wills. For more information visit this link: Co-op Legal Services website Customers accessing the service via phone will need to quote ‘Remember a Charity’
²Research conducted on behalf of Co-op by Atomik among 2,000 UK adults in May 2017
³Co-op Legal Services business data, from May 2016 – April 2017
⁴Figures provided by Cancer Research UK. For further information please visit http://www.cancerresearchuk.org/about-us/how-we-are-run/annual-report-and-accounts.
Co-op members taking out a Will will have the opportunity to give back to their local community in more ways than one, Co-op will give 1% back to local community causes. Members can choose the local cause they want to support from a list of up to three in each of 1,500 communities across the UK. They will also receive 5% of what is spent back into their membership account to spend with Co-op.
About the Co-op
The Co-op is one of the world’s largest consumer co-operatives and has a clear purpose of championing a better way of doing business for you and your communities. Owned by millions of UK consumers, the Co-op operates a total of 3,750 outlets, with more than 70,000 employees and an annual turnover of over £9 billion.
Home to the UK’s leading funeral provider, Co-op Funeralcare conducts almost 100,000 funerals annually across over 1,000 funeral homes. Combined with its leading legal services business, the Co-op is also a national provider of later life products and services ranging from funeral plans, through to wills and probate.
About Remember A Charity
Remember A Charity (www.rememberacharity.org.uk) was formed in 2000 as a consortium of charities and has over 190 members working together to encourage more people to leave a gift to charity in their Will. The campaign, which aims to help make legacy giving a social norm, is hosted by the Institute of Fundraising. Find out more at https://www.rememberacharity.org.uk.