Legacy income for charities in the UK increased to £4.5bn last year despite “a challenging external environment”, according to a new report.
Today, Smee & Ford and Legacy Futures published their inaugural Legacy Giving Report 2025, which shows that overall legacy income grew by 9.2% in 2024, compared to a 1.3% rise to £4.1bn reported in 2023.
One of the key drivers behind last year’s record growth was a 15% rise in the number of charitable bequests, mostly due to the unwinding of the probate backlog at HM Courts & Tribunals Service, the report says.
Record number of bequests
The report shows that bequests reached an estimated 145,000 last year, the highest number ever recorded.
The average value of residuary bequests (a percentage share of an estate) reached £65,600 last year, a 5% decrease on 2023, while the average value of pecuniary bequests (a specific sum of money left in a will) remained unchanged at £4,500.
Meanwhile, the average estate size for those leaving a charitable gift was £599,000, compared to £394,000 for non-charitable estates.
The largest proportion of legacy income went to health charities (39%), followed by animal (16%) and conservation (8%) organisations.
Armed forces and children’s charities each received around 3% of the total pool of legacy income.
The 10 charities that received the most legacy income – including Cancer Research UK, the British Heart Foundation, Macmillan Cancer Support and RNLI – accounted for over 23% of all legacy income.
Legacies represented 30% of all fundraising and 14% of total income for the 1,000 charities in England and Wales that received the most money from legacies.
Longer term, legacy income for UK charities is forecast to exceed £5bn by 2030, £7.5bn by 2040 and £11bn by 2050.
Charity supporters
The report shows that over the last decade, the number of people who say they have written a charitable will has risen by 43%, with now one in five individuals saying they have done so.
It finds that the south coast and London remain the strongest regions for charitable bequests, with almost 18% of probated estates in the south coast containing a legacy gift.
Baby boomers, born in 1946-1964, now make up one-fifth of all legators and are set to dominate legacy giving by 2035, it says.
Ashley Rowthorn, executive director of Legacy Futures and Smee & Ford, said: “This report represents an important step in improving our shared understanding of the legacy giving landscape.
“By bringing together data, analysis and real-world examples, we hope it’ll help charities of all sizes to better navigate current challenges and plan for the future.
“Legacy income is a long-term, resilient source of support for the sector, and having access to clear, evidence-based insights is vital for organisations looking to grow or sustain this important form of giving.”
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