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Most Britons want to leave a legacy, but less than half have drafted a will
Many Britons aspire to leave a positive mark on the world, yet a significant number have not formalised their wishes through a will, new research reveals.
A survey by Great Ormond Street Hospital Charity (Gosh Charity) found that while 61 per cent of people hope to be remembered for their contributions, only 39 per cent have actually drafted a will.
The figures are even lower for charitable bequests, with just 14 per cent including a gift in their will. A further 11 per cent expressed an intention to donate to charity but have not yet updated their will, and 19 per cent are considering it.
Over half (52 per cent ) of respondents emphasised the importance of their lifetime actions benefiting future generations.
The research was carried out by Opinium and released at the start of Free Wills Month.
- Death of a loved one
- Becoming a parent or grandparent
- Reaching a life milestone
- Experiencing a serious illness
The research also found that two-fifths (41 per cent ) of people said they are not currently considering leaving a gift to charity in their will, rising to more than half (51 per cent ) of Baby Boomers (aged 62 to 80) and 44 per cent of Gen-X (aged 46 to 61).
The survey also explored the life moments that prompt people to reflect on the legacy they want to leave behind.
The death of a loved one was the biggest trigger (14 per cent ), followed by becoming a parent or grandparent (12per cent ), reaching a life milestone (10 per cent ) and experiencing a serious illness (9 per cent ).
The research suggests there may be some uncertainty about how accessible legacy giving can be, Gosh Charity said.
Nearly two-thirds (65 per cent ) of people were aware it is possible to leave a gift of any size to charity in a will, while just over a third (35 per cent ) were unaware of this.
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When asked about leaving a small financial gift of up to £100, nearly half (46 per cent ) of people surveyed believe it would make little difference to a charity, and 8per cent believe would make no difference at all.
Gabi Field, deputy director of public fundraising at Gosh Charity, said: “Every legacy gift, no matter the size, helps Gosh Charity fund vital support for families at the hospital as well as ground-breaking research. Together, these gifts ensure seriously ill children get the best chance and childhood possible, now and for generations to come.”
Gosh said patient Ary Patel and his family have seen the impact of that support first-hand. Ary, who is approaching his 10th birthday this year, underwent heart surgery at the hospital when he was six months old.
This month, he is starring in a Gosh Charity TV advert encouraging people to consider leaving a gift in their will.
Ary’s mother Shiva said: “To see Ary approaching his 10th birthday is truly incredible, and something we will never take for granted. When Ary needed surgery, the care we received at Great Ormond Street Hospital was extraordinary – not just the life-saving treatment, but the support and kindness shown to us every step of the way.”
Opinium Research surveyed 2,000 people across the UK in February.