Not surprisingly, the amount given by legacies to charities is expected to decline due to COVID-19.
Legacies will fall in value due to the drop in the value of assets and also the likely inability to liquidate them in the short term. This is in addition to the drop in income of some charities which, in some cases, is likely to be catastrophic, due to the lack of voluntary giving, exacerbated by the drop in income of those charities with investments. This is set against the vital contribution which charities make which will be needed now more than ever.
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Legacy income could decrease by up to 9% this year because of the coronavirus crisis, according to Legacy Foresight.