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Charities are set to benefit from an upsurge in legacy gifts over the next 25 years, research suggests.
In its report entitled Giving Tomorrow: Legacy and In-Memory 2045, Legacy Foresight offers predictions about how legacy and in-memory giving will change.
The organisation suggests the number of gifts left in wills to charities will grow from 120,000 today to 200,000 in 2045 as the Baby Boomer generation (born between 1946 and 1964) looks to share money with causes it supports.
Meg Abdy, development director at Legacy Foresight, said: “There’s no doubt UK society will see some fundamental shifts over the next two decades, including many more people living into their 90s, a new generation of child-free donors and the biggest intergenerational transfer of wealth ever seen.”
In addition, the report suggests the way in which charities interact with their supporters will change, with virtual reality and other digital innovations allowing donors to gain insights into the impact of their gift while they are alive.
Ms Abdy commented: “People will choose to split their giving between more causes and technology will help to level the playing field, enabling the smallest charities and community groups to reach and inspire supporters. This all means that competition is going to increase for donors’ money. It will be a challenging new world, but one that charities and fundraisers should start to harness now.”