Profile of a bequester:
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14% of Australians aged 60 and over have left a bequest to charity in their Will*
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41% of people do not leave a bequest as they say they “do not have enough money” *
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Key drivers to leaving a bequest are personal experience with a cause and having no immediate family°
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High affluence doesn’t translate to greater chance of leaving a bequest its more about values, charitable instinct and social responsibility*
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40% of Australia’s over 60s who leave a bequest say it is the ‘Right thing to do’*
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If leaving a bequest, on average people leave a bequest to 1.5 charities
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80% of bequests are fixed dollar amounts, with 14% a share of the estate*
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The majority of solicitors say that clients raise the issue of charitable bequests around 10% of the time+
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NSW residents are more likely than those in other states to say they ‘would consider leaving a bequest to charity in their Will’
* Instinct & Reason Consumer Research
+ Instinct & Reason Solicitors Research
° Heartbeat Research
¹ Pareto Fundraising
² Genesis Creative
Charity giving in general
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Only 9% of Australians aged 60 and over do not contribute to charities in some way*
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Across the whole population, the age group most likely to donate is 45 to 54
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A greater percentage of women donate (81%) than men (73%)
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Generally the wealthy in Australia are not contributing as generously as they could and arguably as they should³
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The Australian population as a whole also gives at a far lower rate than comparable countries, especially Americans³
Wills
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91% of over 60s have a Will*
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71% of solicitors have a Will+
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The incidence of Wills is higher amongst people without children*
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80% of people use a solicitor to write their Will*
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Apathy is the main cause for not having a Will*
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Triggers to writing or updating a Will include: a health scare, travel overseas and death of someone close°
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76% of solicitors interviewed wrote more than four Wills per month with an average of 7.5+
Solicitors:
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50% of solicitors donate money on a regular basis (15% more than the over 60s)+
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45% of solicitors never raise the issue of bequests when writing Wills with clients
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Solicitors are 18% less likely to buy charity products compared to over 60s+
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More solicitors than the average person volunteer their time+
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27% of solicitors who raise the issue of bequests do so because it is their policy+
* Instinct & Reason Consumer Research
+ Instinct & Reason Solicitors Research
° Heartbeat Research
¹ Pareto Fundraising
² Genesis Creative
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