Legacy Giving in Austria: Leaving a Gift That Keeps Growing

Most of us spend our lives building something. A career, a home, a circle of people we care about. At some point, a quieter question appears: what will continue after me? Thinking about this early is a gift to yourself. When you know that what matters most to you is taken care of, you can live today more fully and with a lighter heart. 

Whether you have children, a large family or a small circle of loved ones, the question is the same: what do I want to leave behind to make a difference? Many people choose to give a part of what they have to a cause that reflects their values. For some, it is also a chance to decide freely where their life’s work goes next. Legacy giving is one way to answer this question.

What is legacy giving? 

Legacy giving means including a charitable cause in your will. In Austria, it is often called a Testamentsspende. A legacy can be a share of your estate, a fixed amount, or a specific asset such as property or securities. You can include people and causes side by side. A will can be changed at any time. A legacy gift therefore never limits your freedom during your lifetime. 

Why a will matters

A will lets you decide, in your own words, what happens to what you have built. Without one, Austrian law sets the order: spouses, registered partners and relatives inherit in a defined sequence. If there are no heirs, and no life partner or legatee has a claim, the estate goes to the Republic of Austria. Fewer than a third of people in Austria over 40 have made a will. Yet a will brings real peace of mind. It allows you to care for the people you love and, at the same time, support a cause close to your heart. 

Why education is a legacy that keeps growing

Some gifts are used once. Education works differently. A young person who completes a degree can build a career, support a family and share knowledge with their community. The effect continues long after graduation day. 

In Austria, access to education is largely protected by public systems. In many parts of the Global South, it still depends on opportunity. For a talented student, one scholarship can decide whether potential stays hidden or becomes a profession.This is why education is a natural fit for a legacy. It invests in people, and people pass it on.

Four questions to start with 

1. Which values do I want my legacy to reflect?

2. Which people and causes matter most to me?

3. Do I want to give a share, a fixed amount or a specific asset?

4. Would I like my gift to honour someone’s memory?

Long-term financial planning gives you a clear picture of the future, and that clarity lets you enjoy the present with peace of mind. A trusted financial adviser can help you plan with care. 

A decision that is yours

A legacy is a personal choice. There is no right size and no right moment. What matters is that the decision reflects you. For more than 20 years, Fund for Education (FFE), an Austrian nonprofit association, has helped talented young people in the Global South and Eastern Europe access higher education. If you would like to learn how education creates long-term change, we are always happy to share. 

Sources

oesterreich.gv.at: General information on inheritance law

Vergissmeinnicht – Die Initiative für das gute Testament: survey by MARKET Institute