Legacy income has increased year-on-year for the first time since the global credit crisis struck, according to new figures.
The year ending December 2010 saw a per cent increase in legacy value over the previous 12-month period, the first year-on-year rise for two years. This left the 51 member charities of the market tracking Legacy Market Monitor consortium with just under £1bn in legacy income for the year.
Increasing residual legacy values were the engine behind the strong performance last year, as residual legacies increased in worth by 3.1 per cent, year on year.
However, the Legacy Market Monitor authors warned that given the ongoing economic instability, this positive trend may not continue. The authors suggest that there will be a “softening in residual values – and possibly total legacy incomes – over the next few quarters”.
In slightly more positive news, the number of legacies left to charities continues to rise by a long-term average of 2.5 per cent per annum.