After many years of increasing, charitable gifts in Wills are now apparently in decline.
Recent research from Smee & Ford, in their Legacy Trends Report 2020, shows that the number of estates leaving charitable legacies fell from 37,637 to 33,120 between 2018 and 2019. In the past, income from charitable legacies was in the region of £3 billion, but recent years have seen this drop to around £2.9 billion.
It is likely that the impact of the Coronavirus will squeeze charitable giving even further in future, although various Inheritance Tax exemptions do remain for now. You can find out more about leaving a gift in your Will, Inheritance Tax and passing on your assets in our downloadable guide.
If you are thinking of putting a Will in place, either generally or to make charitable gifts, and would like to talk this through with someone then please visit our specialist Wills hub page or contact a member of the team.