Scottish legal firm Gibson Kerr believes that many charities across the country are likely to receive less money from legacies over the coming years - as more people in Scotland choose to dramatically cut down donations after reassessing their personal wealth in the wake of the economic downturn.
The firm says that with investments, such as share portfolios, savings and property, falling in value, many people will choose to change their wills to ensure family members are not left out of pocket in favour of charities. Edinburgh-based Gibson Kerr believes that many charities that rely on vital funding from donations left in wills could be seriously hindered in the future – as more and more legacy donations are reduced in people's wills.
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