Legacy Sector Discussions Set For Today’s Wills And Probate Round Table
The charity sector has been forced to confront the wrath of governmental reform in recent months; all of which had huge ramifications on the charity sector and their ability to accrue legacy gifts.
Firstly, the changes to the Non-Contentious Fees Bill have the potential to cause a loss of £10 million per year in legacy gifts to UK charities.
Secondly, experts have predicted that Brexit outcomes could play a significant factor in legacy giving over the next five years, with some potential outcomes costing the legacy sector over £1 billion in lost legacy income.
Finally, the abrupt regulatory change concerning the Wills Notification Service has the potential to massively disrupt the legacy sector when changes come into force at the end of July 2019.
With all these issues in mind, Today’s Wills and Probate thought it pertinent to gather experts from Wills, Estate Planning and Legacy giving together in order to discuss the issues, impacts and potential solutions.
The round table will take place on Wednesday 29th of May 2019 at the Metrobank, 1 Southampton Row, Holborn, London, WC1B 5HA.
Michael Clarke, of Remember A Charity, will be on hand to discuss how the sector can convince the 74% of people who currently support charitable giving in their lifetime to better the mere 6.3% of the UK population currently leaving a legacy gift in their Will.
Research from Remember a Charity suggests that at least a third of adults would be willing to leave a legacy gift in their Will once they have made provision for friends and family; delegates in attendance will discuss the ways the charity sector, solicitors and will writers can collaborate to improve these figures.
Barristers Chambers, 3PB, will initiate discussions on inheritance disputes with the round table discussing issues that are leading to an increase in contested Wills and predictions for the future.
After the invaluable networking time that can be enjoyed over lunch, delegates will look at the changes to the Wills Notification System.
Having made the unexpected announcement in February that the current Smee & Ford system is to be replaced by the end of July, Her Majesty’s Courts and Tribunals System (HMCTS) is still to announce what these changes will look like.
Will this uncertainty create short-term delays and upheaval to a vital system? As HMCTS remain unclear on the final iteration, what impact will this have on legacy giving?
If you feel strongly about changes to the legacy sector, contact Karen Babington, Managing Director of Today’s Wills and Probate, to express your interest in attending the round table by emailing [email protected].