A new report is calling on New Zealanders to normalise conversations about leaving charitable gifts in their wills, and to consider how their legacy can shape and improve outcomes for our communities.

JBWere’s 2025 Bequest Report quantifies the size of New Zealand’s inter-generational wealth transfer for the first time. It analyses work from Government agencies, academics and industry experts in New Zealand and compares this with data and information from the UK, Australia and the USA. Offering unique insights into the state of charitable bequests in New Zealand, the report highlights current levels of giving and opportunities to improve outcomes – both for those leaving an inheritance and those receiving them.

According to the report, only 55% of New Zealand adults have a will, and just 6% of wills include a charitable gift through inheritance*. Bequests account for just 1.3% of all charitable income in New Zealand, totalling an estimated $320 million annually, compared to 1.8% in the USA and 4.5% in the UK*.

New Zealand is in the midst of its largest ever inter-generational wealth transfer, with analysis revealing inheritances are estimated to grow from $27 billion in 2024 to $1.6 trillion by 2050. How this inter-generational wealth transfer is planned and managed by the current owners of these assets will reshape society and presents a powerful opportunity to increase legacy giving and improve outcomes for communities. The report identifies that if current levels of legacy giving could increase to 3%, annual figures could reach almost $2.5 billion within 20 years.

JBWere’s Head of Philanthropic Services, John Morrow, says while many Kiwis are generous during their lifetime, few are considering legacy giving as their last gift.

When writing a will, it’s also important for people to think about more than just the money and investment side. A family’s overall wealth and wellbeing also includes the values it holds – and the degree to which it provides a supportive and nurturing environment, a sense of belonging, and a purpose that extends beyond the family. A will can be drafted to acknowledge and foster these dimensions to strengthen the family and provide the opportunity to have a direct impact into the wider community.

“We have an important opportunity to encourage discussions to normalise giving-in-wills, ensuring that future generations and local communities benefit from a culture of giving that goes beyond the present,” he says.

Charitable bequests are a vital income source for purpose-driven organisations, offering a return on investment six times higher than typical fundraising.

Chief Executive of Ronald McDonald House (RMHC), Wayne Howett, says that remembering a charity in your will isn't just for the wealthy; even modest gifts can have a substantial impact on the causes that matter most.

“JBWere’s Bequest Report highlights the significant opportunity that giving through inheritance now presents to our sector, enabling charitable organisations to deliver greater social impact. For RMHC NZ this means we can support more families in need and ensure they can focus on the most important thing - their seriously ill or injured child. Going forward, this report will help to shape our strategy, and it provides us with the confidence to invest in Gifts-in-Wills programmes over the long-term.”

The JBWere NZ 2025 Bequest Report is the latest in a series of research and insights produced by the specialists in the JBWere Philanthropic Services team. This team supports individuals considering the role of charitable bequests in their succession planning, as well as for-purpose organisations in turning the report insights into bequest fundraising strategies.

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.

A copy of the Bequest Report is available here.

*Source: JBWere estimates, Giving USA, Smee and Ford UK, Public Trust, Australian Taxation Office, Australian Charities and Not-for-profit Commission, Charities Services NZ. For further details on these sources, please refer to the full Bequest Report.

About JBWere New Zealand

JBWere New Zealand is a specialised investment firm providing bespoke wealth solutions to New Zealand’s individuals, companies and for-purpose organisations.

Working with charitable and for-purpose clients has been a key cornerstone of the growth of JBWere over its long-standing history.

The JBWere NZ Bequest Report 2025 follows on from the JBWere NZ Corporate Support Report 2022 and the earlier reports in the JBWere NZ Cause and Support Report series. Together these reports provide for-purpose sector data to inform the decisions made by private donors, grantors, charities and other for-purpose organisations.

The author of this report John McLeod co-founded JBWere Philanthropic Services. John researches and produces reports on philanthropy and the operation of the for-purpose sector for both JBWere New Zealand and JBWere Australia.

JBWere uses the ‘JBWere’ brand under licence from JBWere Limited (ACN 137 978 360), a subsidiary of National Australia Bank Limited (ABN 12 004 044 937) (NAB). JBWere is not a member of the NAB group of companies (NAB Group). No member of the NAB Group guarantees, or supports, the performance of JBWere’s obligations to any party

© Scoop Media