Can equity release be used to pass wealth to the next generation?
There are many common reasons for accessing your property wealth, with paying off the mortgage and making home improvements just two of the main motivations. But did you know that gifting money to family members, or ‘intergenerational wealth transfer’ has long been a top reason for homeowners to access their tax-free cash?
After working all your life to pay off your home, the thought of selling up can be upsetting should you want or need to access your property wealth. If you’d like to provide some financial help to your children or grandchildren, but can relate to being ‘asset-rich, cash-poor’, perhaps equity release could be an option.
To help you decide if a plan could help you to achieve your financial goals in supporting your family financially, we’ll be discussing:
- What is equity release?
- What is intergenerational wealth transfer?
- How do equity release and intergenerational wealth transfer work together?
- Is equity release an effective way to transfer wealth to my family?
- Benefits of equity release and intergenerational wealth transfer
- Drawbacks of equity release and intergenerational wealth transfer
- Speak to an equity release specialist
After you have read our guide to equity release and intergenerational wealth transfer, you’re welcome to call us on 0800 096 2215, or request a call back and we’ll be happy to help further. Alternatively, check your eligibility and get an initial indication of how much tax-free cash you could unlock.