Legacy Literature Review

In the UK, the legacy marketplace is currently worth around £3.4 billion or 14% of charities’ voluntary income. Here the average residuary legacy is worth £50,900 and the average pecuniary gift £3,300 (Legacy Foresight, 2021).

As well as being an important source of current income, the value of the legacy marketplace is anticipated to grow dramatically in forthcoming years. Many Western countries anticipate a rise in the number of deaths over forthcoming decades as the baby boom generation (i.e. those born immediately after the Second World War) begin to pass away. In the UK, Legacy Foresight (2014) have estimated that, largely because of the boomers passing, the legacy market will more than double to £5.16 billion by 2050 (in constant prices).