Despite a COVID-19 dip the long-term outlook for gifts in wills remains optimistic. With Include a Charity Week underway, here’s 6 tips to boost your bequest income.[caption id="attachment_375917" align="alignnone" width="1240"] Legacy Foresight reviewed trends data from a consortium of 45 Australian charities, which in 2019 accounted for $226 million of income from gifts in wills.[/caption]
Originally published September 2020
Charity income from gifts in wills could stall in 2020 and 2021, because of the coronavirus crisis, says Include a Charity, a group of 80+ charities that encourages Australians to consider charitable bequests.
The charity group, working with consultancy Legacy Foresight, has revised its 20-year forecast of the Australian gifts in wills market to consider the economic disruption caused by the pandemic.
But longer term, the situation is better. The Outlook for Australian Gifts in Wills report found the number of charitable gifts in wills is expected to be approximately 1.7 times higher in 2040 compared to 2019, thanks to increasing numbers of affluent and generous baby boomers passing away, as well as a growing proportion of deaths attributable to child-free women, a demographic that is…