More New Zealanders leaving a gift to charity in their will – Wills Week shines the spotlight on “willanthropy”
Media release
June 2024
Whether it’s the community cause you support, the animal shelter you love, or the cancer charity you’re involved with – leaving a gift in your will can be transformative for New Zealand charities. With bequests to good causes on the rise, Public Trust’s Wills Week urges New Zealanders to think of their will as a powerful tool.
Wills Week is coming up, 15-21 July. This year, New Zealanders are being encouraged to make or update their will and, after taking care of family and friends, consider including a charitable gift.
Public Trust Chief Executive Glenys Talivai says making a bequest is a way people can create a lasting legacy. “Your will is not only important for planning for the future. Leaving a gift in your will can be a wonderful and meaningful way to give back to the causes, charities and community organisations in that matter most to you.”
Industry experts anticipate a rise in bequests, fuelled by New Zealand’s ageing population and intergenerational wealth transfer. The trend has been dubbed “willanthropy”.
“While we’re seeing more people leaving a gift in their will, it’s still not something that’s widely known. This means there is a big opportunity for New Zealanders to make a positive impact. You don’t need to be wealthy to leave a gift in your will. Whatever you’re able to give can make a big difference,” says Talivai.
Did you know…
8% of wills written with Public Trust in the last three years have a gift to a charity.
The average value of the gift is $10,000.
The most common types of charities provided for are those focused on cancer, children, education, medical research and protecting New Zealand’s environment and wildlife.
Philanthropy New Zealand is joining forces with Public Trust to share stories about the positive impact legacy giving can make.
“Bequests play an important role in Aotearoa’s philanthropic sector and every day we see the good mahi happening in communities all around Aotearoa because of giving,” says Philanthropy New Zealand Chief Executive Rahul Watson Govindan.
Having the opportunity to choose a charity that aligns with personal values can mean so much to the person leaving a charitable gift, he says. “We know that many New Zealanders don’t fully understand their ability to make a positive difference. There is so much need out there and there are so many opportunities for New Zealanders to make a positive difference, including by leaving a bequest.”
Your will is a powerful tool
A will is a legal document that outlines your wishes for what you’d like to happen to your assets when you die. A will can also include gifts to loved ones, a charity or causes close to you.
These special gifts are called bequests and they are a vital source of funding enabling charities and not-for-profits to sustain their programmes, expand their activities and reach their goals. Making a bequest, big or small, ensures your generosity continues beyond your lifetime, helping to provide care and support, aiding scientific research, promoting education or enriching the arts.
www.publictrust.co.nz/willsweek2024
About Public Trust
Public Trust is New Zealand’s largest provider of trustee and estate administration services.
Our unique role is to empower all New Zealanders to build and protect their legacies. To achieve this, we are focused on delivering products and services that are compelling, relevant and accessible to all Kiwi.
Public Trust provides trustee and comprehensive estate administration services for individuals through our Retail business, and corporate trustee, supervisory and custodial services through our Corporate Trustee Services business. We also have an important part to play in the charitable trust sector. Our investment team manages around $1.4 billion of funds, primarily for charities, estate beneficiaries and students (through our Fee Protect service).
Established 150 years ago, Public Trust is a self-funding autonomous Crown entity. We employ over 400 people across our national network of customer centres and corporate offices. www.publictrust.co.nz
About Philanthropy New Zealand
The purpose of Philanthropy New Zealand Tōpūtanga Tuku Aroha o Aotearoa is to celebrate and grow effective giving in Aotearoa through providing the philanthropy and grantmaking sector with leadership, education, professional development, training, resources, research, advocacy, industry representation and collaboration opportunities, along with raising awareness and promoting the importance of giving.
Philanthropy New Zealand was founded in 1990 by the late philanthropist Sir Roy McKenzie and its membership and network includes over 200 organisations and philanthropic leaders from around Aotearoa.
All information, content, and materials referred to, in this document are for general informational purposes only. Information in this document is not intended to be a substitute for professional advice. You should not act in reliance on the content of this document without first obtaining professional advice relevant to your particular circumstances. While Public Trust has made every effort to ensure that the content of this document is up to date and error-free, Public Trust does not give any guarantee or other assurance as to the accuracy, completeness, timeliness or fitness for any particular purpose of the content.
