The ripple effect of legacy giving locally
More New Zealanders should consider the potential of legacy giving locally says Philanthropy New Zealand CEO Rahul Watson Govindan
Every day we see the good mahi happening in communities all around Aotearoa because of more thoughtful giving by people who care about the future of this country.
Bequests, or gifts in wills, are not only for the rich and famous and they play an important role in shaping our nation.
This month is Wills Month, a reminder for New Zealanders not only to make sure they have a will and keep it updated but also to consider their potential to continue their generosity beyond their lifetime.
Community Foundations of Aotearoa New Zealand members collectively have $260 million in invested funds received from bequests with an anticipated pipeline of many hundreds of bequests, adding up to an additional $1billion.
Many New Zealanders have spent many years creating and building a wonderful community around them that they want to live in and bequests are a powerful way to continue to help the community that you’ve contributed to for so much of your lifetime continues to thrive, along with the people within it.
At Philanthropy New Zealand, we would love more New Zealanders to know about the amazing ripple they can help to create through generosity, beyond the time they’re alive, that can leave an impact for their children and grandchildren.
When making decisions about leaving a legacy gift, people should consider a cause area important to them. For example, local community foundations – 18 of them around Aotearoa NZ - can help people to leave a gift to a cause area to fund groups that are doing great work into the future.
Many people tell us they feel good about leaving a gift in their will. If a particular charity or cause has touched your life you can leave a gift that will always give back to that cause area, through an invested fund. There really is a way to give forever.
Talking with a local community foundation or organisation can be a great opportunity to ask questions and learn more about your cause area of interest. A legacy gift can make the world of difference to local charities and causes, helping them to deliver their work.
Wills Month is also a prompt to have an important conversation with your family about your will.
Talk to your whānau and loved one about your decision, bring them on the giving journey as well, so that there are no surprises later on and they can help to see your wishes through. We see many families express immense pride at their loved ones’ generosity, which stretches beyond their lifetime.
It doesn’t matter if your bequest is small or large with the most important thing being that it’s going to make a difference to a cause area important to you.
Philanthropy New Zealand partnered with Community Foundations of Aotearoa New Zealand this month for Wills Month to raise awareness about the importance of having a will and the impact of legacy giving on our communities