After 30 years in the legacy business I hope I know a lot BUT one of the biggest problems we face is sorting the fact from the fiction. That is why I get more and more intrigued by legacy giving every year.
Did you know:
- on average you die 6.8 years after your last Will? A fact but also fiction. Most Wills are either quite new, or ages old and probably do not reflect current wishes. Also this average is different for different causal areas
- The average legacy in the UK (and many other countries) is about £19,000, A fact but a dangerous one, Each sector, region, and charity does not have the same average. The main exceptions are the education sector, arts sector and some animal charities. Also…….
- the average value each type of legacy (a cash sum or a % legacy) varies in every cause, region etc
- 0ver 90% of people with a legacy in their Will are never going to tell you about their legacy because it is none of your business and they might change their mind.
- somewhere around only 2% to 65% will fulfil their “pledge” – it all depends on the quality of their trust, confidence and engagement with your charity
- Smaller charities and niche charities are growing their legacy income well above the norm
- That this is one way of giving which absolutely relies on a combination of passion AND logic. Heart and brain need to act in unison
- MOST legacy prospects do not have a clue as to the sources of funds which are received by their favourite charity which means they do not think of leaving you a legacy