Mitigating your liability for inheritance with an equity plan
With house prices having risen so dramatically over recent years, more and more people are now finding that their estates will fall within the grasp of the Government's treasury department when they eventually pass away. In fact, anybody who passes away leaving an estate worth in excess of £285,000 will be subject to inheritance tax.
Currently, any assets that amount to more than this figure is taxed at 40%. For example, if your estate is worth £500,000 when you pass away, £80,000 of this will generally be paid in inheritance tax before it reaches your beneficiaries.
For many people, equity release can be a means of reducing the amount of inheritance tax that is paid. This is because, for the majority of people, much of their wealth is tied up in the value of their home. By freeing up this wealth with equity release, you can have a say in what happens to it before it's too late. In order to find out more about how you could benefit from equity release, call us on freephone 08080 555 222.
Call us today on freephone 08080 555 222 or use our equity release calculator to find out how much equity you could release.