Legacy gifting remains resilient but the number of people who give to charity is falling, particularly amongst the younger generation, according to the latest legacy giving report from Legacy Futures and Smee & Ford. The drop amongst younger people could pose a risk to future charity income, the report warns.
The Legacy Giving Report 2026, which will be published on Thursday (21st May), provides “a clear, evidence-led view of the legacy market,” its author Ashley Rowthorn, executive director at Legacy Futures and Smee & Ford, says.
The report reveals the legacy gifting market has a total estimated income of £4.4 billion in 2025. The figure represents a slight fall since the peak of £4.6 billion in 2024, which was driven by the unlocking of probate backlogs across 44,000 charitable estates in 2025 – just over one in six probate estates. While some correction was expected in 2025, probate volumes and gift values held up better than had been forecast, the report notes.
The importance of legacy gifting cannot be understated, Rowthorn said. Gifts in wills account for around 30% of fundraised income among the top 1,000 legacy supported charities, with even higher reliance in some sectors. The long-term annual growth rate of legacy gifting is 4.3%, and the report predicts legacy income could reach £5 billion by 2029 and £10 billion by 2046.
An estimated 104,000 charitable bequests were made in 2025, down 11% on 2024 following the clearing of the probate backlog. Average gift values reached £44,000 overall, with residual gifts averaging £98,000 and pecuniary gifts £6,100. Health charities remain the largest recipients, accounting for 34% of legacy income.
Geographically the south east, south west and London combined account for 44% of all legacy giving.
But within the data is a stark warning that the number of people giving to charity and engagement among younger generations is declining. As legacy gifts often reflect decisions made decades earlier, this trend could pose risks to future income, the report explains.
According to the Charities Aid Foundation (CAF), the number of charity supporters has dropped by an estimated six million people since 2016. The decline was steepest during the pandemic, with a cumulative loss of nearly four million donors throughout 2020 and 2021. According to CAF, one in three young people said they were “not engaged with or interested in charities”.
At the same time, upcoming policy changes and pension reforms are expected to increase estate complexity and may slow the flow of legacy income in the short term. The freezing of the IHT nil rate band means nearly twice as many estate fall into the IHT bracket now (31,000), than in 2009/10 (fewer than 15,000)
Rowthorn explained: “This year’s report highlights both stability in the present and uncertainty ahead. Legacy income remains a cornerstone of charity funding, and the outlook is positive in the medium term, with steady growth forecast over the next decade.
“However, the decisions that will shape legacy income in the 2030s and beyond are being made today. Charities that invest in insight, strengthen supporter connections and adapt to changing behaviours will be best placed to realise the full potential of legacy giving in the years to come.”
Claire Routley, consultancy director at Legacy Futures, added: “Legacy giving continues to show remarkable resilience, even as charities face wider economic and societal pressures. What stands out in this year’s data is the strength of the underlying market, with income, estate numbers and gift values all holding up well despite an anticipated correction.
“But the report also makes clear that future growth cannot be taken for granted. Charities need to understand who their supporters are, how motivations are evolving, and how to build lasting relationships that translate into long-term support through gifts in wills.”
Commending the report’s content, Lucinda Frostick, director at Remember A Charity, said: “At a time when charities are facing economic uncertainty and donor behaviours are changing, having access to strong, reliable insight really matters.
“The Legacy Giving Report 2026 brings together essential data and insights to help charities understand the trends shaping gifts in wills and make confident decisions about their future. We’d encourage charities large and small to dig into the report and use the findings to strengthen their legacy fundraising strategies for the years ahead.”
