Legacy income rises 6.3 per cent

Legacy income for charities grew by 6.3% in the twelve months to March 2017, according to a benchmark survey published today. Legacy Monitor Consortium published a review today revealing their 83 members received £1.42bn in legacy income and 53,800 bequests. Income has risen by 6.3% compared to the same period last year. Rising death rates continue to boost numbers of legacies, which rose by 3.6% in the past 12 months. According to the quarterly review produced by Legacy Foresight, income from gifts in Wills grew strongly in the first half of 2016 – increasing from £1.3bn to £1.4bn. However, many UK economic indicators are now starting to slow as Brexit negotiations get under way. This is having a slight impact on residual legacy values. In the same year to March 2017, average residual values rose by just 3.4% to reach £58,600. Despite this, Legacy Foresight said that over the next five years it does not expect a fall in legacy income, nor a high growth rate. The Legacy Monitor Consortium members account for 55 per cent of the legacy market. The next review will be shared in August 2107.