News & Insights

Only 55% of New Zealand adults have a will, and just 6% of wills include a charitable gift as part of the inheritances. Bequests account for just 1.3% of all charitable income in New Zealand, totalling an estimated $320 million annually.

This new report is encouraging New Zealanders to encourage more conversations about leaving charitable gifts in their wills so it becomes normal, and to consider how their legacy giving can support the passing on of values to descendants as well as shape and improve outcomes for our communities.

Key findings 

• Intergenerational wealth transfer: Estimated total inheritances will grow from around the $27 billion passed in 2024, to a cumulative total of $1.6 trillion by 2050.
• Charitable bequests: Currently, only 1.3% of inheritances will be allocated to charities, far below the levels seen in the US and UK. Only 6% of wills in New Zealand include a charitable gift.
• Demographic changes: New Zealand’s population growth is slowing, with a dramatic increase in the number of older age people. Annual deaths are expected to rise from 37,000 to over 66,000 within 50 years.
• Household wealth: New Zealand remains near the top globally for average household wealth, with a more even spread than most countries. The wealth gap between households and individuals still remains significant (exacerbated by decline in home ownership and current cost of living issues.) How the inter-generational wealth transfer is planned and managed by the current owners of assets will reshape society in Aotearoa New Zealand, and presents a powerful opportunity to increase legacy giving and improve outcomes for our communities.
• Bequests as charity income: Charitable bequests are mostly unrestricted in their use and have a return on investment around six times the average for all fundraising. However, bequests account for just 1.3% of all charitable income here, compared to 1.8% in the USA and 4.5% in the UK*.
• Opportunities for growth: Increasing the level of discussion about bequest options by financial and legal advisers, and growing media coverage of peers giving as part of passing on inheritance, can normalise giving in wills. Introducing ‘living bequests’ with a small tax incentive, that can be claimed now while living, for a contractual gift after passing could enhance giving from inheritances.
• Future projections: The report suggests that improving the rate and value of charitable bequests to a level of 3% could result in almost $2.5 billion annually in 20 years – an almost eight fold increase from the current annual level ($320 million).

JBWere thanks Public Trust for partnering with us on the research and for providing ten years of anonymised aggregate bequest data to inform the report’s analysis.

“While many Kiwis are generous during their lifetime, few are considering legacy giving as their last gift. We have an important opportunity to encourage more discussions on giving-in-wills so it becomes normal, ensuring that future generations and local communities benefit from a culture of giving that goes beyond the present.”
John Morrow, Head of Philanthropic Services, JBWere New Zealand.

Helping you use these insights to fulfil your ambitions

This Report is the latest in a series of research and insights produced by the specialists in the JBWere Philanthropic Services team and forms a key part of our commitment to you and your legacy planning.

JBWere advisers, supported by the Philanthropic Services team, are well placed to help guide discussions on family values and philanthropic goals, using insights from our Bequest Report to create a shared vision for your family’s charitable giving—now and in the future. We can also support for-purpose organisations who would like to explore how to turn the insights in our Bequest Report into an enhanced bequest fundraising strategy.

Download The Bequest Report to learn more about how you can shape your legacy, and how bequest strategies can benefit charities and communities.

If you would like to explore the findings for your particular context, contact a JBWere Adviser or John Morrow, Head of Philanthropic Services, on 021 441 087 or email him at John.Morrow@jbwere.co.nz