Legacy income set for growth in 2010

Fundraising | Celina Ribeiro | 21 Sep 2010

The value of the legacy market should return to growth in the second half of 2010, according to the latest Legacy Market Monitor.

After announcing less than six months ago that “the legacy market is in the doldrums” the quarterly report said that while the amount raised via legacies in the year ending June 2010 was 1.4 per cent less than in the preceding year, the rate of decline has slowed and charities can look forward to a legacy market worth £2.4bn overall by 2015.

The Legacy Market Monitor is based on the results of 42 consortium members, which combined make up 47 per cent of the total legacy market. In the year up to June 2010, the charities raised £881.4m via legacies, down £12.2m on the year before and £3.8m on the year ending June 2008 – the peak of legacy income.

But despite the slight decline over the first two quarters of 2010, Legacy Foresight predicts that overall 2010 will show an improvement on 2009.

The growth until 2015 is attributed more to an increase in legacy values rather than the number of legacies left, with the organisation predicting that of every extra £100m that is donated via legacies, £61m will be a result of increasing value of individual estates and bequests.

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