Remember A Charity coins term ‘Willanthropy’
Remember A Charity, a consortium of almost 200 charities, is calling on dictionaries to recognise a new term to celebrate the generous acts of everyday people that are on the rise. ‘Willanthropy’, the act of giving to charity in your Will, seeks to overcome a big misconception: that you need to be wealthy to do something wonderful and make a difference for good causes in your Will.
The number of adults aged 40+ who have left a gift to charity in their Will has risen by 43% in the past decade – a steady increase in the proportion of people choosing to give from their Will over time. After taking care of family and friends, even leaving a small gift in a Will could help to make a huge impact on charities big and small.
And it matters now, more than ever, with 81% of charities revealing that service needs increased compared to last year and just over a third (38%) confident they can afford to meet this. This is why Remember A Charity, is coining the new term to inspire more everyday people to consider leaving a gift to charity in their Will.
When you leave a donation to a charity in your will, that amount is free of inheritance tax, effectively increasing the tax-free allowance. Not only do donations enable people’s passions and values to live on through their favourite charities’ work – but they can also offer generous tax incentives. And if you donate 10% or more of your estate, the inheritance tax rate is discounted from 40% to 36%, which can make a considerable difference.
Meet some UK Willanthropists
Willanthropy comes in all shapes and sizes – from small but no less meaningful donations to sizeable and transformative gifts, anyone can be a Willanthropist. Celebrating the impact of those donations, Remember A Charity has pulled together the stories behind some of the nation’s Willanthropists.
Much loved television personality, Angela Rippon CBE, is an ambassador for Brooke Action for Working Horses and Donkeys, – an international charity that protects and improves the lives of working horses, donkeys and mules which gives people in the developing world the opportunity to work their way out of poverty. She says:
“Getting your Will organised can give you an enormous sense of satisfaction that after you've gone, you'll still be there for those who are most important to you. I know that by supporting Brooke in my Will, I’m going to be helping working horses, donkeys, and mules for many, many years to come.”
Terence Taylor and Pancreatic Cancer UK
Terence shared his life with his partner and soulmate David for over 62 years. His was shattered when both David and sister Gillian – the two people he loved the most – passed away shortly after being diagnosed with pancreatic cancer. The gift in his estate gives him joy knowing the significant impact it will have on the charity and preventing other families and couples from being torn apart by this terrible disease.
Joan Davis and The Elizabeth Foundation
Joan aged 91 is leaving a heartfelt gift in her Will to The Elizabeth Foundation. Her three nieces were born profoundly deaf, and Joan vividly remembers the immense anguish her family experienced when they couldn’t communicate with them. She says, “my sister-in-law’s dream was to hear her daughters say, “I love you Mum”. Now, The Elizabeth Foundation can make that cherished dream a reality for families with young deaf children.”
Laurie Teague and Courtyard Centre for Arts
After local sports reporter for the Hereford Times and passionate theatre lover, Laurie, left £76,000 in his Will when he passed away in 2019 at the age of 84, the Centre was able to launch Transform the Yard, a development project – meaning the Centre is now more prominent, better, and busier than ever before.
Willanthropy – it’s official!
To mark the launch of Willanthropy, Remember A Charity is calling on dictionaries to recognise this as an official term and encouraging the public to celebrate and share their own stories of Willanthropy, using #Willanthropy on social media.
Across the UK, Willanthropists are making a big difference to charities now and long into the future.
Lucinda Frostick, Director of Remember A Charity, said: “Charities play such a huge part in our communities all over the UK. By remembering those close to our hearts with a gift in our Will, we can ensure that their work lives on long beyond our lifetimes. We’re delighted to be celebrating the nation’s Willanthropists and hope to inspire people across the country to consider those causes that have touched their lives – and what a difference a gift in their Will could make.
“So, if there is a charity that you’re passionate about in your community, please consider remembering them in your Will, once you’ve taken care of your loved ones.”