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Legacy income up 10% in 2016

Legacy income up 10% in 2016

Total legacy income rose 10.3% in the 12 months to December 2016, according to Legacy Foresight’s first Legacy Bulletin of 2017, with no signs of slowing.

Legacy Foresight’s 83 Legacy Monitor Consortium members received £1.43bn in legacy income during this period, and 52,300 bequests: a slight decrease of 0.8%.

Legacy Insight is attributing the growth in income to a higher number of deaths than expected, coupled with and a better than anticipated economic performance. According to Legacy Insight, while deaths did drop last year following a spike in 2014/15, they did not drop as far as had been predicted. Annual deaths now stand at 600,000; 9% higher than at the start of the decade.

The UK’s economy, the Bulletin says, has seen UK house prices rise by 2.5% since the Brexit referendum, while UK share prices have also risen: by 11% since July, due to a rise in British exports. This, Legacy Insight says, has been caused by a 10% fall in the value of Sterling, which has made exports cheaper. Residual legacy values are also up, according to the figures, and now stand at £58,400.

Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com.

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