It really is time we all had a chat

David Christiansen, Executive Officer, Momentum Waikato.

Facts and figures abound these days. Here’s a few more:

• $1.6 Trillion is the estimated total value of inheritances to be transferred via Wills in New Zealand as its population ages over the next 25 years;

• only 55% of New Zealanders have a Will;

• and only 6% of those have any component of charitable giving, well below rates found in similarly wealthy countries globally.

These are just some of the findings contained in the newly launched Bequest Report covering New Zealand by investment managers JBWere, which we explain here.

If the rate of charitable giving in Wills was to grow, even marginally, it would be transformational for the entire not-for-profit sector and the communities and causes they support.

New Zealanders are a generous people, we all know that because so many of us give during our lives. This is not about a lack of generosity, it is about us, as a country, needing to normalise the act of charitable giving when it comes time to consider our Wills.

So, it is time we all had a chat – with our partners, families and friends, and our professional advisors such as our lawyer or accountant.

There are so many ways to give, and a small proportion of a Will, in the form of a charitable bequest, will still leave most of an estate to the remaining family members, while also creating an enduring legacy.

Charitable bequests clearly need to be a routine part of the Will-making process. Which is exactly why we here at Momentum Waikato recently welcomed a new member, Debbie Stevens our Relationship Manager, who is focussing on the promotion of charitable bequests, particularly to professional advisors.

Gifts in our Wills can be transformational. Let’s do it!