Value of charity legacies is up one per cent, says Legacy Foresight

Figures show rise in monetary bequests, while residual bequests remain steady over past eight years

Rise in legacy giving
Rise in legacy giving

The value of legacies left to charities has risen almost 1 per cent in the 12 months to March 2011, according to Legacy Foresight.

The 51 members of the Legacy Foresight consortium, which together account for 53 per cent of the charity legacies market, received legacy income in that period totalling £981.3m.

This was almost £8m more than in the year to March 2010. But it was £10m less than in the 12 months to December 2010.

The report notes that this "softening" of the legacy market was expected, and has probably been driven by the gradual fall in house prices since last summer.

It also says that the number of bequests has increased in the last 12 months compared with the same period last year, with most of the growth in bequests of specific sums of money.

It says that the number of residual bequests - a percentage of someone's estate - has remained relatively stagnant over the past eight years. The proportion of legacies that are residual bequests, which are often the largest bequests because they may include property, has fallen from 40.5 per cent in 2003 to 39 per cent over the last year.

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