Many Wealthy Americans Plan to Make Charity Bequests

By Suzanne Perry

Almost half of the wealthiest Americans plan to leave part of their estate to charity when they die, with academic institutions the most popular beneficiary, according to a new survey.

Those surveyed plan to leave most of their estates to spouses or children, but will give an average of 9 percent of their assets to charity in the event that there is no living spouse.

The annual survey, conducted by U.S. Trust Company, an investment-management company in New York, polled 150 people who are among the wealthiest 1 percent of Americans — that is, with household incomes of at least $300,000 or net worth of at least $5.9-million.

Forty-six percent said they plan to leave some assets to charity. Of those, 48 percent will donate to academic institutions, 44 percent to health-related organizations, 36 percent to religious institutions, 30 percent to public-policy groups, and 17 percent to libraries or museums.

Some of those gifts could amount to millions of dollars: When asked to estimate how much their estates would be worth when they died, 32 percent said at least $10-million, while another 31 percent said between $5-million and $10-million.

A majority of the respondents have taken action to protect their estates from taxes, including establishing a trust (67 percent), giving money away (55 percent), and setting up a foundation (18 percent).

Copies of the report, “U.S. Trust Survey of Affluent Americans,” are available free from U.S. Trust; call (212) 852-1129.