Our Legacy Foresight team have published their latest Legacy Market Review for 2023.
In the financial year 2022/23, charity legacy income is estimated to have reached £4bn with nearly 140,000 bequests, marking a 6.5% annual income growth, according to Legacy Foresight’s benchmarking research.
Despite this record growth, the future appears less optimistic due to the current economic climate. A buoyant housing market has contributed to recent growth, but with housing prices expected to fall, Legacy Foresight warns of a potential negative impact on legacy values.
Probate administration delays, with £900m caught in a backlog, present a short-term challenge. The medium-term forecast predicts a 5% fall in legacy income by 2025/26, but long-term projections show accelerated growth, reaching over £6bn by 2050.
However, the market is becoming more crowded, requiring charities to plan, invest, and be creative to maintain their presence. Despite economic challenges, charitable legacies remain valued and crucial for weathering tough times.
Read more and download the full Market Review PDF.