Let's talk about Legacy Giving...

with Guest Speaker Lucinda Darby!

Charity isn’t a dirty word when talking Wills

The public believes that legal advisors should provide information about leaving money to charity when providing Will-writing services and relevant guidance, and yet many advisors appear more comfortable talking death and taxes than they are about legacy giving. In this month’s webinar, Lucinda Darby, Marketing Manager at campaigning organisation and charity consortium Remember A Charity, gives her insight.

Although according to the Remember a Charity solicitor and Will-writer tracking study, carried out by Future Thinking, indicates that record numbers of advisors are now referencing the tax breaks of gifts in Wills, with 69% always or sometimes advising clients about the inheritance tax benefits of legacy giving - up from 61% in 2009. There are many who still don’t raise the topic of charitable bequests with their clients at all. This is despite the fact that many of their clients care about the work of charities close to their hearts, but have no awareness of how to support them in their Wills.

Why isn’t charity being talked about?

There can be a range of reasons why advisors don’t always reference legacy donations with clients. Some advisors say that they feel awkward or uncomfortable addressing what could be a sensitive issue or they are uncertain what the options are. Many believe that their clients have already made up their minds about who they’re going to leave money to, while others are nervous about seeming to suggest depriving family members of their inheritance. 

This webinar will provide guidance on how to talk to your clients about charitable legacies whilst still encouraging the public to think about their family and friends’ needs foremost, before considering the charities that they care about. It will also highlight how the CTTC legal document drafting software, Countrywide Legacy, simplifies this process, providing prompts for legacy giving. When a client has chosen to leave a gift in their Will to charity the reasoning behind their decision is recorded and automatically populated within the Will Clarity Statement, ensuring the client's wishes are always clearly documented and their intentions clearly recorded for their family.

A charitable nation

Typically, in the UK around two thirds of us give to charity regularly in our lifetime, over one third (35%) would be happy to leave a gift to charity in their Will and yet only around a fraction (6%) currently leave a charitable bequest. This highlights a disconnect and shows the difference that providing good advice to a client can potentially make.

Gifts in Wills play a massive role in supporting the work of many of Britain’s much-loved and valued charities. The latest annual figures from Legacy Foresight values legacies at ￡2.96 billion annually. Just a small increase in the number of people that leave charitable bequests could make a significant difference in vital funding for charitable services across the UK.

Of course, solicitors and Will-writers aren’t fundraisers – it certainly isn’t what they are meant or expected to do. They do however, have a duty to provide clients with all the options when it comes to writing a Will. Many potential supporters don’t realise that they can leave a gift to any charity and it doesn’t have to be a huge sum. So, just by including a reference to the option of including a charity in a Will, research from the Behavioural Insights Team has shown that advisors can double the amount of people that choose to leave a donation.

Making legacy giving a social norm

Legal advisors have an opportunity to make a huge difference to the satisfaction of their clients, especially for those where a charity has played a key role in their family’s life. The benefit to charities would also be significant and it is estimated that just a four per cent increase in people leaving a charitable legacy would raise an extra ￡1 billion for good causes. Gifts in Wills already fund more than half of Marie Curie hospices and one in six children in NSPCC care. Just imagine what a difference it could make if legacy giving were to become a social norm.

The Supermen Webinar 58 will focus on the following:

• The importance of legacy giving and why it matters
• Why you should talk to your clients about it
• How to talk to your clients about it
• What to advise your clients when they want to leave a bequest to a charity
• The options for leaving a bequest to a charity
• How CTTC software can help you to achieve your client’s wishes

To ensure that every client is made aware that they have the option of leaving a gift in their Will and to ask for donations to charity in lieu of flowers at their funeral, we have adapted our legal document drafting, Countrywide Legacy, to provide prompts for legacy giving.

When a client has chosen to leave a gift in their Will to charity, the reasoning behind their decision is recorded and is automatically populated within the Will Clarity Statement, ensuring the client's wishes are always clearly documented.

This FREE webinar will ensure you are providing your clients with complete and best advice, whilst maximising your profits.

Register your place NOW on our FREE webinar!

All Webinars commence at 10:00am and finish at 11:00am

Register for: Friday 18th October

Register for: Monday 21st October

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01926 514 390 Ext 9170

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