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The growth in charitable giving through wills
1. The Growth in Charitable
Giving Through Wills
Connolly Suthers
MP Building, 416 Flinders Street, Townsville, QLD, Australia 4810
07 4771 5664
2. A comprehensive estate plan includes a will, a trust and several other documents that provide a
person’s relatives with concrete directions on how to distribute their assets after their death. These
instructions include healthcare directives, power of attorney and end-of-life wishes.
But while a lot of wills and trusts distribute a person’s assets within the family, there is a growing trend
among Australians of allocating assets to charities.
Charity Donation in Australia
The 2016 Giving Australia report states that over the course of 12 months, between 2015 and 2016, 14.9
million or 80.8 per cent of Australian adults gave a total of $12.5 billion to charities and non-profit
organisations. The average donation was $764.08, while the median was $200.
While a vast majority of Australians donate to charities in their lifetime, that number dramatically
drops to 7.4 per cent when it comes to them leaving money to charity in their will. However, this is
bound to double in the coming years according to UK-based research agency Legacy Foresight.
3. Including Charities in Estate Planning
“In the UK, 15 per cent of people leave money to charity in their wills, which is more than double the
rate of Australia and I think it mainly comes down to awareness. In the UK, giving to charity in wills has
been promoted for 25 years. However, it’s only being pushed in Australia as of 10 years ago. It will take a
while to get to UK levels. However, the signs are that it is improving,” says Meg Abdy, Legacy Foresight’s
director.
Commissioned by the Include a Charity campaign, Legacy Foresight’s research estimates that by 2040,
the value of money left in wills will more than double, especially after inflation. This is mainly because
people in their 50s and 60s are asset-rich baby boomers.
What’s more, there is a growing proportion of people passing away without children to bequeath their
assets to. According to Legacy Foresight, childless couples and individuals are four times more likely to
leave donations to charities in their wills.
Helen Merrick, campaign director for Include a Charity, emphasises the impact of charity-giving, no
matter the value. She says, "It's not just wealthy people who give, with the average gift being left in
their will of about $53,000, and many are smaller. Charities are grateful for gifts, big and small, it all
helps.”