Legacies are a vital, albeit somewhat unpredictable, source of income for many charities. The amount charities receive from legacies in the UK is approaching £2bn per year. It is commonly felt, however, that the amount being left to charity is likely to reduce in these difficult economic times.
It is surprising that the majority of people in the UK (the figure is probably somewhere around 70 per cent) die without having made a will. Charities of course receive nothing under the intestacy rules. Of those people who do leave a will, it is estimated that only around one in seven contain a gift to charity.
If these figures are correct, this means that only around four per cent of people leave a legacy to charity. Only a small number of those legacies will be subject to some form of dispute. Nevertheless, we are seeing an increasing number of challenges being made to peoples’ wills, which is bound to have a knock-on effect on the amount ultimately received by charities…
If you are registered and logged in to the site, click on the link below to read the rest of the Mills & Reeve briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Analysis from The Lawyer
The trend for unbundling legal work is advancing through the law firm ranks but there is still resistance in some quarters - namely in-house. We asked why