People in the UK left £2.85bn to charity via gifts in wills last year – the largest amount ever recorded. The noteworthy figure is the equivalent of the money raised from 39 Red Nose Days!
Health and cancer charities were the biggest beneficiaries with Cancer Research UK, Macmillan Cancer Support and the British Heart Foundation in the top five, according to data from 260,000 wills in 2016/2017. Other popular charities include the Royal National Lifeboat Institution and the RSPCA. The increase has been driven by the rising interest among wealthy entrepreneurs in philanthropy, both during their life and on death. To fund major charitable donations or bequests, entrepreneurs may sell their business or a stake in their business.