September marks Legacy Month in Ireland, a time to seriously consider the importance of legacy giving. MyLegacy's Chair, Niall O'Sullivan brings the Philanthropy Ireland community an insightful article focusing on on raising awareness about this impactful form of support, encouraging individuals to leave a lasting contribution through their wills or trusts. Legacy giving provides nonprofits with a sustainable source of long-term funding, empowering them to plan for the future and invest in initiatives that create lasting change. For donors, it’s an opportunity to leave behind a meaningful legacy that reflects their values, while ensuring their contributions continue to support the causes they care about for years to come.
Did you know that every year people in Ireland inherit at least €8bn - €10bn. It’s a lot of money - and that figure may be even higher. Each year about one in 20 people who’s Will went to probate leave a gift to charity. The total left was about €80m in 2022.
A new survey for My Legacy shows that over half of people had not considered or been aware they could leave a charity gift in their Will. This suggests there are many more people who could do so in the future.
If Ireland, pro-rata, matched the UK, Irish charities would receive over €300m annually from gifts in wills. Imagine the impact this extra funding could have on cancer research, local communities, tackling educational disadvantage, supporting communities in the poorest communities overseas and much, much more. Gifts from Wills can make magic happen. And more magic could happen. Why? Wealth in Ireland is increasing, more people are passing away, the population is ageing, family sizes are falling, and charities are being more proactive – these are just some of the many factors that could drive an increase in charitable bequests – the starting point is for people to know they can do so.
According to the My Legacy Red C research, just 27% of adults have a Will. 5% are thinking about it. In the UK 44% of adults have made a Will. However, in the Irish survey, 34% said they should make one. We want considerations of gifts in Wills to be a new norm in Ireland.
According to research by Campaign Solutions from public domain information, there have been at least 36 gifts of €1m+ left in Wills. Combined, their value is well over €150m. Philanthropy Ireland member, The Katharine Howard Foundation was established in 1979. After her death in 1989 £1 million was added to the capital through the sale of her house and other assets, while a further $2 million was provided from a family trust.
Wonderful outcome can be achieved from gifts in Wills. A bequest of €3.5 million in 2010/2011 for the study of epilepsy to Trinity College Dublin lead to the creation of the Ellen Mayston Bates Professorship of Neurophysiology of Epilepsy. A new lifeboat at Kilmore Quay, Co Wexford was launched in 2020. It was fully financed from a bequest by Mrs Mary Weeks from Surrey in England who passed away in 2006. The Ryan family are known for their philanthropy – Declan Ryan established the One Foundation. His late brother Cathal Ryan, and son of the late Ryanair founder, Tony Ryan, died in 2007, and left €35 million to charity in his Will. A foundation was later established. Tony Ryan bequeathed €10m of his fortune to a charitable trust in 2007 and it was established in 2009.
Elizabeth O’Kelly in 2017 most famously left €30m+ to five charities, these being: Irish Cancer Society, Irish Heart Foundation, Irish Kidney Association, Irish Society for Autistic Children and the RNLI.
With philanthropy being more focussed on those with greater means, most HNWs have wealth or tax advisers and solicitors in place as a matter of course. While Ireland is seeing a small but steady increase in the number of Donor Advised Funds and foundations, it is still rare to see them established or supported by charitable bequests.
With International Legacy Giving Day fast approaching on Sept 13, My Legacy has also called on Government to make giving to a good cause via Wills more tax efficient. Gifts in Wills are tax free to the charities so you can be certain that 100% will go the cause or charity you support. In our pre-Budget 2025 submission, My Legacy has also called on government to consider tax incentives to encourage more charitable gifts in Wills. Such a move could mean more conversations about charitable gifts with solicitors and ultimately a reduced level of inheritance paid by inheritors – where applicable. Over 20 countries worldwide are now promoting International Legacy Giving Day. From Australia to the UK, Canada to South Korea and many more, publicity campaigns about the importance of legacy giving and events by charities are informing will writers, solicitors and the general public about the benefits.
Close to two-thirds feel unsure about how to make a Will. The reality is that, for most people, making a Will is a very straightforward process. The Red C research also indicated that price was not a reason for not doing so. Only 1/3 said cost was a key reason they don’t have a Will. So, there is huge potential to grow this aspect of giving back, but the starting point is to have a Will. An average will costs c€150 - €200. Charities are also making it easier for people, with an increasing number offering free in-person or online Will-making options.
Research by Campaign Solutions has shown that, even though we make fewer gifts to charities in our Will than our UK counterparts, those who do are as, if not more generous. The median (most common) gift level is €5k, but the average cash gift ranges from €8k - €10k (depending on year of research). Residuary bequests (usually a percentage of the nest assets / estate) are substantially higher – the average is in excess of €60k, but they are often six figure amounts and sometimes €1million+.
The infrastructure around Wills differs from country to country. Ireland is one of only 7 EU countries not to have a Wills Register. There has been some resistance previously from The Law Society and others. Elsewhere, Registers are used by the public and legal profession to register Wills and then search for Wills down the line. My Legacy believes that a register would greatly simplify the process of finding a will, where it’s location or existence might be unknown, thus reducing delays for grieving families.
We think of ourselves as a generous nation – lets more of us be generous in death as well as in life.
About the Author and My Legacy
Niall O'Sullivan runs Campaign Solutions and Legacy Insights (consulting) and is Chair of My Legacy. He previously worked for Community Foundation Ireland and is currently on the Data Sub Group of the National Philanthropy Initiative.
My Legacy is an umbrella group of 90 Irish charities working together to make gifts in Wills the norm in Ireland. It asks people to consider including a gift in their Will to a favourite charity, once family and friends have been taken care of and all other important personal decisions have been made.
Further Information About International Legacy Giving Day
Every year on September 13th, charities and legacy consortia worldwide join forces to celebrate International Legacy Giving Day to honour and thank all supporters who had included a gift in their Will to a good cause.
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