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Legacy income falls under Brexit ‘fog’
Melanie May | 6 March 2019 | News
Legacy income fell 2.3% among Legacy Foresight’s consortium members last year, it has revealed.
Its latest Legacy Bulletin shows that its 80 Legacy Monitor members received £1.46 billion in legacy income in 2018, with an almost even split between those that experienced an increase, and those that saw a decrease, at 41 versus 39.
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Bequest numbers have also dropped over the last three quarters, with numbers now totalling 54,325 for 2018.
Legacy Foresight puts the decline in growth down to a number of factors, including the ‘fog of Brexit’ continuing to hamper economic activity. It is warning that a no-deal Brexit could see legacy incomes drop to £1.2bn lower over the next five years than it would if a deal is reached.
Other reasons identified for the decline are a slowdown in the growth of the number of deaths, which has resulted in a slowdown in bequests numbers, along with a slight change in the bequest ‘mix’, with residual numbers lagging cash gifts (pecuniaries).
- Sector bodies unite in joint letter to Justice Minister on probate fee concerns (12 March 2019)
- Legacy stewardship gaining more prominence, Legacy Foresight research reveals (21 March 2019)
- Dogs Trust, National Trust & Cats Protection top league for charities perceived as most in need of legacies (29 April 2019)
About Melanie May
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 thepurplepim.com.