Giving from the grave is expanding rapidly, say Liz Gibbs, chief executive of Philanthropy New Zealand, and Andrew Barnes, chief executive of Perpetual Guardian.
Philanthropy New Zealand unveiled its Giving New Zealand report at a Who’s Who philanthropy event at Auckland’s Museum of Transport and Technology on Wednesday.
It revealed a boom in people leaving money to charities in their wills, with a 29 per cent growth in the value of bequests to charities, up from $122 million in 2011 to $157m in 2014.
Liz Gibbs, Philanthropy New Zealand’s chief executive, said bequests had grown quite significantly. She identified the greying of the population as a major factor.
Andrew Barnes, from the country’s largest wills, trusts and estates company Perpetual Guardian, expected the boom to continue over the coming decades. “The death rate is going to double over the next 15 years,” he said.
That would see an enormous amount of wealth transferred between generations. Barnes said people were more socially-aware than ever before, so the country could expect to see a portion of that wealth directed towards charitable activities.
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