The Legacy Foresight’s Legacy Market Outlook 2020–2025 report, which was released on 4th December, forecasts that charitable bequests will spike to record levels in 2021.
According to the Office of National Statistics, the total number of deaths in the UK for 2020 reached just under 615,000.
This, together with ongoing delays faced by probate applications, is likely to result in 2021 seeing charitable bequests increase by up to 50% more than those in 2020.
Across 2020–2025, Legacy Foresight expect a 10% increase on the charitable bequests seen across 2014–2019.
Legacy Foresight’s predictions coincide with HM Courts and Tribunal Services’ recent revelation that an average of more than 5,000 probate grants have been issued each week in 2020, meaning that 2020 now stands to see more probate grants issued than any of the past 5 years.
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