Legacy income for charities rises for the fifth consecutive quarter

Latest figures from Legacy Foresight show that member charities of the Legacy Monitor Consortium received £1.048bn from gifts in wills in the year to June

Charity income from gifts in wills has grown for the fifth consecutive quarter, according to the latest figures from Legacy Foresight, which analyses the legacy market.

Data from the 61 members of the Legacy Monitor Consortium, which accounts from more than half the UK charity legacy market, shows their combined legacy income was up 0.4 per cent in the year to June to £1.048bn. 

Legacy Foresight, which provides a quarterly benchmarking bulletin, said the latest growth is slow compared with recent updates, but "still suggests that legacy incomes are recovering".

The number of legacy notifications received by member charities grew by 1.5 per cent over the 12 months, the data shows. Most of this increase came from pecuniary, or cash, gifts, rather than residuals, which is the remainder of the estate left after bequests and specific legacies have been distributed and all debts cleared. Residual bequests represent almost 87 per cent of legacy income, the figures show.

"We expect house prices to grow more strongly – and evenly – across the UK this coming year," says the latest Legacy Foresight bulletin. "This will undoubtedly feed through into higher residual legacy values.

"However, we don’t expect a return to the bumper growth rates experienced before the recession began, when legacy incomes were growing at around 8 per cent per annum."

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