Income from wills increases

Charity income from gifts in wills has grown by almost 10 percent over the past year, the highest rate since 2008, according to data from Legacy Foresight.

Legacy Foresight, which collects quarterly figures from 67 charities representing more than half of the charity legacy market, shows that its members received combined legacy income of £1.16billion in the year to the end of June 2014, a rise of 9.7 percent on the same period last year.

It is the 10th consecutive quarter in which legacy income has grown, with the exception of one small blip in the year to June 2013. This was the largest year-on-year increase during that period.

Legacy Foresight state that 42 of its members experienced an increase in income compared with last year, while 25 reported a fall.

It said that the average residual bequest was worth £56,800, an increase of 8.8 percent on the previous year. It noted, however, that the average value had been skewed upwards by a few exceptionally large bequests, and a more typical residual legacy was worth between £20,000 and £25,000.

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