Income from wills increased by almost 10 per cent in the past year

Legacy Foresight figures show its members received combined income of £1.16bn in the year to the end of June, a 9.7 per cent rise on the same period the year before

Wills: income up by 9.7 per cent
Wills: income up by 9.7 per cent

Charity income from gifts in wills has grown by almost 10 per cent over the past year, the highest rate since 2008.

Data from Legacy Foresight, which collects quarterly figures from 67 charities representing more than half of the charity legacy market, show that members received combined legacy income of £1.16bn in the year to the end of June 2014, a rise of 9.7 per cent on the same period last year.

It is the tenth consecutive quarter in which legacy income has grown, with the exception of one small blip in the year to June 2013. This was the largest year-on-year increase during that period.

Legacy Foresight said that 42 of its members experienced an increase in income compared with last year, while 25 reported a fall.

It said that the average residual bequest was worth £56,800, an increase of 8.8 per cent on the previous year. It noted, however, that the average value had been skewed upwards by a few exceptionally large bequests, and a more typical residual legacy was worth between £20,000 and £25,000.

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