REDUCE INHERITANCE TAX
For some people there is a potential inheritance tax liability on death. Equity Release can be used to take out cash from within a high value home to either spend or give away now. If giving money away you and your loved ones could benefit in 2 ways. On top of the gift being free of any inheritance tax after 7 years, the value of your estate will also be reduced so there could be no inheritance tax to pay at all!
Many of the clients that we have helped have been in asset rich properties and well off themselves so only looked to Equity Release to reduce inheritance tax in the future as much as they could. This should always be done with advice from suitably qualified advisers and in many cases they are directed to us for best advice. A client may for example take money from their property now and either gift straight away, or place into a suitable trust so that they maintain control of the funds themselves. Depending on your situation this can be a very effective tool and you may decide not to repay interest as this reduces the estate too.
EQUITY RELEASE CAN BE USED TO REDUCE POTENTIAL INHERITANCE TAX LIABILITY, BUT WE ALWAYS RECOMMEND DISCUSSING THIS AT LENGTH WITH AN INHERITANCE TAX SPECIALIST IN THE FIRST INSTANCE.