Charity legacy income grew by 6.3 per cent in the 12 months to March 2017, underpinned by rising death rates, according to a Legacy Monitor Consortium review published today.
In the 12 months to March 2017, 83 Legacy Monitor Consortium members received £1.43bn in legacy income and 53,800 bequests. Compared to the same period last year, total income is up by 6.3 per cent.
The rise comes on the back of a continuing increase in death rates, which rose by 3.6 per cent in the past 12 months.
According to the quarterly review produced by Legacy Foresight, legacy income grew strongly in the first half of 2016 – climbing from £1.3bn to £1.4bn. However, since then growth has flattened off, suggesting the impact of Brexit may be having an effect as economic uncertainty continues, dampening legacy value growth.
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In the year to March 2017, average residual values – the amount given when someone leaves the remainder of their estate to charity – rose by just 3.4 per cent to reach £58,600.
Despite this, Legacy Foresight said that it does not expect a fall in overall legacy income in the next five years, but it does not expect high growth rates either.
The Legacy Monitor Consortium members account for 55 per cent of the legacy market. The next review will be available in August 2107.