The total income from legacies in the 12 months to the end of September 2016 was up by 8.5 per cent, according to the latest overview from Legacy Foresight.
The 78 members of the Legacy Monitor Consortium received legacy income of £1.4bn and 51,600 legacy notifications – an increase of just 0.3 per cent.
According to the overview, residual legacy notifications are continuing in a “steady upward trend”, which has been evidenced over the last 4 years from 18,000 to more than 20,000 per annum. Residual’s share of total notifications has risen to 40 per cent now.
This quarter has seen a dip in average residual values however, down from a high of £60,300 in June this year to £58,500 in the year to September. Legacy Foresight put this down to an adjustment from June’s record high, rather than a fundamental weakening of residual values post referendum.
For the third quarter running, the average cash gift in a legacy has grown, now standing at a record £4,120.
Legacy Foresight said however that Brexit has not had any measurable impact on legacies this year, yet at least.
“Even against an uncertain economic backdrop the increase in legacy notifications and recent strong growth in values bodes well for the coming year” said Meg Abdy, director of Legacy Foresight.
The next quarterly overview will be published by Legacy Foresight in February 2017.
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