The total value of legacy income increased by 4.6 per cent in the year ending 30 September, the fastest rate of growth since mid-2008.

Figures from Legacy Foresight’s quarterly bulletin has found the total value of legacy income for its 61 Legacy Monitor Consortium members was £1.1bn.

The report finds reason for optimism across the board, with increases in both legacy notifications and average gift value – which now sits at £53,600, just £200 below the pre-crash high.

Legacy Foresight concluded: “Following a spate of positive economic indicators, the legacy market is expected to recover still next year.” The company believes that the market will grow to £2.4bn by 2017.