Most charities are targeting the over 60’s in their legacy programmes.
But is this too late? Firstly it depends what you’re looking for. Undoubtedly you’ll find more legacy ‘pledgers’ in the older segments on your database. For one, they are more likely to have written a will.
And of course it’s important to understand who your legacy pledgers are in order to aid forecasting and also to ensure you can nurture them. But isn’t the real potential for a legacy fundraiser in speaking to those that that haven’t yet decided what charity to leave a gift to; those that haven’t yet written their final will?
Look at the graph below. A study by Xtraordinary in 2012 shows that more 23-49 year olds are considering leaving a legacy to charity than the 50+ age group. At 70+ the percentage of people considering a legacy gift drops significantly.
This is something we’ve seen when speaking with supporters on the phone too: the graph below shows a clear decline in interest with age. The older the donor the less likely they are to be open to consideration, to change their will.
The lesson here is to start the legacy conversation earlier, before your supporters have written their will, before they have decided which charity[s] to give to.