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Charities can expect to see a surge in their legacy income over the next 10 years, according to a report from the charity legacy consortium Legacy Foresight.
The consortium is predicting an “exceptional period of growth” in the coming decade, suggesting charity legacy income is likely to hit £43bn over the period.
In a statement released to coincide with Remember A Charity Week (6-12 September), Legacy Foresight said: “Appetite for legacy giving is growing and, despite recent delays at probate, the number of charitable bequests is predicted to rise by 30 per cent over the decade.”
Data from the legacy information company Smee & Ford meanwhile shows that more than one million gifts totalling over £23bn were made to charities between 2010/11 and 2019/20.
Commenting on the figures, Rob Cope, director of Remember A Charity, said: “Legacy giving can be transformational for UK charities and it’s wonderful to see such scope for growth.
“Donations have long been on the rise, but the global pandemic has accelerated that growth, shining a spotlight on the critical role of charities in our communities and the importance of will-writing.
“This funding will be vital for the sector as we strive to build back and strengthen resilience for whatever the future brings.”
Remember A Charity Week, now in its 12th year, encourages people to consider leaving a gift to charity in their wills