Legacy income for charities could fall by more than a quarter this year because of the pandemic, forecasters suggest
According to research firm LegacyForesight, charity income that is derived from legacies left in wills could fall by up to 27 per cent in 2020.
A month ago at the end of March, the firm published its five-year forecast predicting only a 9 per cent fall on the previous year.
It has now updated its forecast taking into account the latest information and the deterioration in factors such as covid-19 related deaths, economic projections and administrative delays.
However, the firm expected the negative impact to be short-lived, forecasting only a 5 per cent decline on pre-covid-19 estimates of legacy income from 2021 to 2024
It said the short-term decline will reflect the economic impact of covid-19 and a “pessi...