The total amount of legacy income to charities hit an all-time high of an estimated £3.7bn last year, according to research.
The Legacy Trends report by legacy information provider Smee & Ford found that 37,053 wills included donations to one or more charities in England and Wales.
The figure was out of a total 269,699 estates processed during the year, meaning 14 per cent of probated wills were charitable – down from 16 per cent in 2021.
There was a significant increase in the value of charitable estates, from £19.9bn in 2021 to £21.2bn in 2022 – growth of 7 per cent, and the first time the total has exceeded £20bn.
In a press release, Smee & Ford said: “Estate value growth is important to legacies because growth in estate values translates to growth in the values of residual bequests.
“In recent years, we have seen growth in the average value of charitable estates, from £496,000 in 2017 to £576,000 in 2022. Over the past year, the average value of a charitable estate has increased by 8 per cent.”
Polly Avgherinos, managing director of Smee & Ford, said: “It is encouraging to see total legacy income for charities reach a record high in 2022, as well as a new milestone reached for the value of charitable estates.
“We hope that legacies will remain resilient in the face of the current economic climate and remain committed to supporting the sector with valuable market insight throughout this year and beyond.”
The report also revealed that in 2022 one will contained bequests to 79 different named charities.