Half of UK millionaires include charity in their wills, research shows

Half of the UK's high net worth individuals have included a charitable gift in their will, new research has shown.

The findings from Remember A Charity highlight the growing role of philanthropy in estate planning among the wealthiest, with three in four individuals holding estates worth over £5m having pledged a charitable legacy.

Commissioned by Remember A Charity and conducted by Savanta, the study surveyed 500 UK residents with over £1 million in investable assets.

It found that nearly a third (32%) of millionaires have set up a Charitable Will Trust, and 28% have created a Donor Advised Fund (DAF) as part of their giving strategy.

Among those yet to leave a gift, 58% said they are open to doing so in future, and 26% admitted they simply hadn’t thought about it.

Only 26% of participants had pledged a percentage of their estate to charity, despite 40% saying they would consider this approach.

Charitable giving was more common among millionaires with children (50%) than those without (42%), which contrasts with broader trends where child-free individuals are more likely to leave a gift.

However, the research also revealed a surprising gap in will preparation, with just 31% of millionaires holding an up-to-date will.

One third of those aged 55–65 said they don’t have a will at all, and a quarter are currently in the process of creating or updating one.

“Charitable legacies are hugely valued across the sector, no matter the size of the gift or estate. But these insights into the high value legacy market reveal that legacy giving is even more prevalent in this space than many of us will have anticipated," Remember a Charity director, Lucinda Frostick said.

“This also helps to reinforce to professional advisers just how relevant philanthropy is to their client base – and how crucial it is that they can support their clients in achieving their charitable legacy," she added.

Frostick noted that family is “less likely to be seen as a barrier” to legacy giving among the wealthy, presenting a key opportunity for professional advisers to guide clients in achieving philanthropic goals.

To support this, Remember A Charity is launching new resources and training for wealth advisers during Remember A Charity Week, taking place 08–14 September 2025.