Ahead of its annual Legacy Trends report, due out next week, Smee & Ford have revealed that annual legacy income is now more than £3 billion – the highest ever recorded.
This is a 10% increase on last year’s figure of £2.8 billion.
Total legacy income is made up of residual bequests, those based on a portion of the total estate value, and pecuniary bequests, which are usually a defined amount in a Will, as well as conditional bequests, those that occur when specific conditions of a Will are met.
Smee & Ford’s latest annual trends report is currently being finalised, and will bring together details of charitable estates for every charity in the UK, looking at the nature of gifts in Wills over time, particularly the causal area for each legacy.
The full Legacy Trends report will be available on Thursday 13 June. The findings will also be discussed at the Legacy Strategy Summit, held on the same day at the Leonardo Royal Hotel Tower Bridge in London.
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