Legacy income was down in the first half of 2018, compared to the previous year, according to figures published yesterday by Legacy Foresight.
Income for the year to the end of June 2018 was up 4.5 per cent on the previous year, Legacy Foresight figures show.
But the figures also show that there was sharp growth in the first half of that period, followed by six months which were down on the preceding year.
Legacy Foresight, a consortium of 83 member charities which monitors legacy income, says this is down to lower bequest numbers at the end of last year and a slower economy over the first half of 2018.
Fall in average value of a residual bequest
The largest legacies are residual bequests – when charities get the remainder of a will after fixed-value gifts. The average value of a residual bequest fell from £59,700 to £57,800.
Bequest values are driven by the performance of house prices and the stock market, and were affected by a static or falling housing market in the first half of this year.
The average value of cash gift values were worth just under £4,000 each.
Legacies are also highly dependent on the weather, with adverse conditions leading to more deaths and therefore more legacies. These are usually seen later in the year because it takes some time to notify a charity of a legacy.
The unusually cold weather of the Beast from the East had an effect earlier this year, and the summer heatwave is likely to do the same.