Low uptake of legacy giving
Tax break with gifts in wills
Charity group My Legacy is calling on people in Tipperary to include a gift to a good cause in their Will after a new survey found over a third of Irish people would leave a little something extra to charity if tax breaks were available to beneficiaries.
Published on International Legacy Giving Day (September 13), the poll was carried out by Red C on behalf of My Legacy. It reports that only 27% of over 18s in Ireland have made a Will, with only 14% of those saying they’ve included a charitable gift from their estate.
However, 35% of respondents said they would consider a bequest to charity if it meant there was a tax break available.
Niall O’Sullivan, Chairperson of My Legacy, said: “The report shows a strong public interest to know and understand more about both the process of making a Will, and including a gift to charity. My Legacy represents over 90 Irish charities and public support is crucial to their services. We know that Ireland is one of the most generous nations in Europe and the report states that 40% of people regularly support a charity.
“However, that figure jars significantly with the current low uptake of legacy giving, especially compared with the UK, where pro rata, people leave three times as much in their Wills to charities. This demonstrates the huge potential to increase legacy giving in Ireland. In our pre-Budget 2025 submission, My Legacy is calling on the Government to incentivise and encourage legacy giving.”
Charites benefitting from legacy gifts
The nationally representative survey of 1,007 adults, which was carried out online between August 6 and 11 this year, also found that health-related charities benefit the most from the Irish public’s generosity, with 68% of respondents saying they regularly support organisations like the Irish Heart Foundation and Irish Cancer Society.
Children’s charities are next, with just over half (56%) donating to this sector, while a similar number (51%) donates to homeless groups.
The survey also shows Ireland remains a nation of pet lovers, with 45% helping animal charities with cash donations, while 44% say they prefer to give to humanitarian organisations.
Red C also report that the main reason that 39% of respondents said they would include a gift for charity would be to support the work of an organisation close to their heart, while 27% said it would be to honour the memory of a loved one – with the same figure saying they would want to give something back to their community.
Where there’s a Will, there’s a way
As part of My Legacy Month, umbrella group My Legacy is encouraging people to make a Will. It says there are three simple steps involved:
Make an appointment with a solicitor to discuss your wishes and decisions for the future.
Look after loved ones: a Will provides for those close to you, assigns guardians, protects assets, and can help reduce inheritance tax.
Consider a legacy gift to charity: if you have a cause close to your heart, include a gift to that charity in your Will. A gift may be big or small and is tax free to the charity.
My Legacy Month, the charity’s annual awareness campaign to encourage people to include a legacy gift in their will for a charity that’s important to them, runs throughout September. For more information about Will-making and legacy giving, visit www.mylegacy.ie.